Cost Of Living
The cost of living in this region is notably lower than the national average, encompassing everyday goods, housing, utilities, transportation and health care expenses.
Housing
High scores in the housing category are attributed to this area, possibly pointing to a favorable home affordability ratio, robust appreciation rates or elevated home values.
Health & Safety
Achieving a high health and safety score relies on factors including great air quality and convenient access to vital health facilities such as hospitals, doctors, clinics and police stations.
Commute
Access to public transportation in this particular area may be limited, which can result in longer-than-average commute times to reach workplaces.
Faribault is a medium-sized city located in the state of Minnesota. The city has a population of 23,853 people. The majority of Faribault residents report their race to be White; this is followed by Black and Asian. If you are not a fan of long commutes, you will enjoy living in Faribault. With an average one way commute time of only 20 minutes, getting to and from work is a breeze compared to the national average of 26 minutes.
If you’re considering moving to any new city, it could be a very daunting task. However, it could also be a great experience if you are willing to get to know the area before actually living in Faribault, Minnesota. When searching for a new neighborhood, several key items should be considered. Safety is of utmost importance, ensuring a secure environment with low crime. Proximity to your workplace or school helps reduce commuting time and offers convenience. Access to amenities such as parks, grocery stores, and healthcare facilities enhances your daily life. Public transportation options contribute to easy mobility. A sense of community fosters a supportive and engaging environment. Lastly, the overall atmosphere should align with your desired lifestyle, ensuring a fulfilling living experience. Considering these items will guide you towards finding the perfect neighborhood that fits all your needs. With useful information like cost of living, commute, education, employment and other key data points, finding the best places to live in Faribault and in the areas around Faribault is a much easier task.
Faribault, MN receives 75 out of 100 for its livability score; this results in a ranking of #133 in Minnesota and #3,325 in the USA. Based on this score, Faribault would be considered a very livable city! If we probe a little deeper into each category within the livability score, we see that Faribault has higher than average scores for the following: crime (B-), cost of living (A+) and housing (A+).
A healthy real estate market serves as a key economic indicator. It could signify overall local economic strength, stability and reflects consumer confidence in the area. Based on multiple factors including: median home and rental prices, appreciation rates and home affordability, Faribault has received high marks in the housing category. Based on these calculations, the apartment rental and real estate market appears to be very healthy.
There are many factors that go into deciding if an area is the right fit for your lifestyle. Certain “must haves” like low crime, great schools and nearby amenities are all at the top of most people's lists. But before even considering if those options are attainable, we'll need to know if the real estate in Faribault is actually affordable. Median real estate prices in Faribault come in at $169,900, which is 11.3% lower than the Minnesota average. The home price to income ratio compares the median home prices to the median household income. In Faribault, the home price to income ratio is 3.1, which is 3.3% higher than the Minnesota average.
| Statistic | Faribault | Minnesota | National |
| Average one way commute | 20min | 23min | 26min |
| Workers who drive to work | 83.3% | 78.0% | 76.4% |
| Workers who carpool | 11.0% | 8.7% | 9.3% |
| Workers who take public transit | 0.4% | 3.5% | 5.1% |
| Workers who bicycle | 0.4% | 0.8% | 0.6% |
| Workers who walk | 1.0% | 2.8% | 2.8% |
| Working from home | 3.1% | 5.3% | 4.6% |
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