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, Minnesota is a medium-sized city with a population of 24,714 people. According to the most recent Census, 73% of Faribault residents are White, 14% Black and 2% 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.
Whether you’re relocating to a new city to be closer to family, friends or for a new job, living in Faribault could be a positive experience compared to other cities in Minnesota if you know where to look. Don't forget to determine what matters most to you in a neighborhood. Consider factors such as safety, proximity to work or school, access to amenities (like parks, fitness facilities, grocery stores, restaurants), public transportation options, community atmosphere and the overall vibe you're looking for. Finding the best places to live in Faribault and nearby areas is a much easier task when you can rely on information and data from the livability score, which includes amenities, commute, health & safety and other important metrics.
The livability score in Faribault is 76 out of 100 and the city is ranked in the 88th percentile of all cities across America. Based on this score, Faribault would be considered a very livable city! There are nine total categories that create the livability score. Faribault scores well for crime (B-), cost of living (A) and housing (A+)
For home buyers, real estate will be the largest purchase they will ever make and it will also be their most valuable asset. For renters, the monthly rent paid on their Faribault apartments will most likely be their largest expense. Based on tangible metrics like home and rental affordability and appreciation rates, housing in this area has received a score that is well above the average of every other US city. A thriving real estate market can also generate strong local economic activity and job creation.
Certain items on your wish list like shopping, restaurants, nightlife, parks and proximity to public transportation are all important things to look for. Having said that, perhaps the most important metric to consider when contemplating a move to Faribault is real estate affordability. Median real estate prices in Faribault come in at $300,435, which is 11.4% 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 3.7, which is 0% lower 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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