Housing costs in Faribault?
A typical home costs
$254,600, which is 24.7% less expensive than the national average of
$338,100 and 17.7% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Faribault costs
$880 per month, which is 29.0% cheaper than the national average of
$1,240 and 21.6% cheaper than the state average of
$1,070.
Can I afford Faribault?
To live comfortably in Faribault (zip 55021), Minnesota, a minimum annual income of
$48,960 for a family, and
$26,800 for a single person is recommended.
What does A.I. say about Faribault?
The cost of living in 55021 Faribault, MN is quite reasonable. The median home prices are around $105,000 which is very affordable compared to larger cities. The median rental price for a two-bedroom apartment is around $750 per month, and groceries and other necessities are all quite reasonable as well. Gas prices are typically lower than the national average, making it a great place for people to live without having to spend too much each month. In addition, the job market in Faribault is booming with plenty of opportunities for employment. All in all, living in 55021 Faribault, MN can provide an affordable and comfortable lifestyle to those looking for a friendly and welcoming community.