Faribault-Northfield Metro Area, MN Housing

The housing market in the Faribault-Northfield, MN Metro Area is thriving. According to the data, the median value of a home in this area is $309,900 – lower than the national median of $338,100. However, this market has seen strong appreciation over the past year with an increase of 11.31%, compared to 8.27% nationally. This marks a strong trend for the region and shows that there is continued demand for housing in Faribault-Northfield.

The median home cost in Faribault-Northfield Metro Area is $309,900. Home appreciation the last 10 years has been 93.7%. Home Appreciation in Faribault-Northfield Metro Area is up 12.2%.

Average Age of Homes

- The median age of Faribault-Northfield Metro Area real estate is 40 years old

The Rental Market in Faribault-Northfield Metro Area

- Renters make up 22.5% of the Faribault-Northfield Metro Area population
- 0.5% of houses and apartments in Faribault-Northfield Metro Area, are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Faribault-Northfield, Minnesota	United States
	24,930.0	139,647,020.0
	44	42
	$309,900	$338,100
	12.2%	16.6%
	47.8%	57.0%
	93.7%	101.1%
	$10.71	$10.98
	$2,574	$2,690
	69.3%	57.4%
	7.4%	11.2%
	23.2%	31.4%
Vacant Housing
	0.5%	1.9%
	0.2%	0.4%
	0.1%	0.7%
	0.2%	0.4%
	3.0%	3.6%
	3.3%	4.1%
Value of Owner-Occupied Housing
	3.4%	2.6%
	1.9%	2.4%
	0.4%	2.8%
	0.6%	3.9%
	2.5%	4.5%
	11.0%	11.3%
	17.2%	13.0%
	30.0%	20.1%
	18.8%	13.6%
	7.5%	8.3%
	4.8%	9.7%
	0.8%	3.9%
	0.8%	2.2%
	0.0%	0.8%
	0.3%	1.1%
Housing Units by Year Structure Built
	0.1%	0.2%
	17.6%	13.6%
	17.6%	13.6%
	13.2%	13.6%
	8.6%	13.2%
	15.7%	14.8%
	13.2%	13.6%
	8.3%	10.0%
	3.9%	4.7%
	19.6%	12.2%

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