Faribault, Minnesota.
Typical home $303,037 (+2.0% in a year), asking rent $1,360 . Faribault-Northfield, MN metro.
to buy the typical home at today's mortgage rate — +$832 (+110%) since Jan 2020.
- 1 year
- Up $6,005 +2%
- $297,032$303,037 since Sep 2025
- 5 years
- Up $53,175 +21%
- $249,862$303,037 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Faribault$1,591
- Minnesota$1,831
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 18 years.
Typical home values in Faribault, MN rose 2.0% over the past year — faster than the nation's +1.2%.
Living in Faribault, Rice County, Minnesota
Faribault is a city of 24,453 people in Rice County. Half its households earn more than $61,449 a year and half less, against $83,181 across Rice County; 16% of its people live below the poverty line. 66% of its homes are lived in by their owners and 34% are rented. Unemployment in Rice County was 4.9% in August 2026, and the county had 1.0% more jobs in 2025 than the year before. The most residents work in manufacturing, then schools and health care.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Faribault is a small city in Rice County where people tend to be around the age of the typical American. Most homes are lived in by their owners, though the city has more renters than many small towns of its size. Household incomes run well below the county's, and a smaller share of adults hold a four-year degree than you might expect, so this is a place where much of the work is practical and hands-on. Winters are cold and snowy, with January the coldest month, and summers are warm.
Work. Residents work mostly in manufacturing, in schools, hospitals and social care, in shops, and in restaurants, hotels and entertainment. Among the largest workplaces in Faribault are Jennie-O Turkey Store, the MN Department of Corrections and Daikin Applied. Unemployment across Rice County is higher than it was a year earlier, though the county still has slightly more jobs than the year before, and a typical commute is short.
Things to do. The Straight River runs in or beside town, and River Bend Nature Center is also close, a protected area good for a walk. The Paradise Center for the Arts, a theatre, is in or beside town as well. For more room to roam, Nerstrand Big Woods State Park is a short drive away.
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- 8,938households
- 18%of adults have a degree
- 16%below the poverty line
- 19 mintypical commute
- 6%work from home
What residents work in
Employed residents by industry, from the Census survey. Rice County had 26,450 jobs in 2025, 1.0% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 23° and lows near 5°; warmest in July, with highs near 82° and lows near 61°. About 43 inches of snow and 35 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Faribault weather station, under a mile away (NOAA).
Largest workplaces in Faribault
- Jennie-O Turkey StoreTurkeys, processing, fresh, frozen, canned, or cooked911
- MN Department of CorrectionsCorrectional institutions599
- Daikin Applied - Faribault SouthHeating and air conditioning combination units manufacturing555
- Faribault Public School DistrictSchool district531FTE
- Rice CountyExecutive offices, federal, state, and local469
- Daikin AppliedAir-conditioning and warm air heating combination units manufacturing460
- Faribault FoodsCanning fruits and vegetables350
- Trystar FaribaultInsulated wire or cable made from purchased copper in wire drawing plants329
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 45 workplaces with 20 or more staff, 6,685 people in all. School districts come from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Strong windVery high
- TornadoesRelatively high
- Cold wavesRelatively high
- Winter weatherRelatively high
- Hailrelatively high in parts of FaribaultRelatively moderate
- Inland floodingrelatively high in parts of FaribaultRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Faribault’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Rice County and the Faribault-Northfield, MN metro.
Faribault home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Faribault$303,037
- Minnesota$348,778
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 4 Faribault listings, and the typical home goes pending in 38 days — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Faribault28.36%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Faribault38
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Faribault128
New listings per month
Sellers arriving at the market.
- Faribault34
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Faribault$284,454
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Faribault98.54%
Zip codes with a Faribault address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Faribault — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.