Zip 55021 (Faribault, MN) Housing

The housing market in 55021 Faribault, MN is relatively affordable compared to the national median. The median value of a house in Faribault is $254,600, which is much lower than the US median of $338,100. Over the past year, the US has seen an 8.27% increase in housing appreciation while Faribault saw a 6.66% increase - slightly under what we've seen nationally. The housing market in this area provides a great opportunity for homebuyers looking for an affordable option that may not be available elsewhere.

The median home cost in Faribault (zip 55021) is $254,600. Home appreciation the last 10 years has been 94.0%. Home Appreciation in Faribault (zip 55021) is up 12.2%.

Average Age of Homes

- The median age of Faribault (zip 55021) real estate is 45 years old

The Rental Market in Faribault (zip 55021)

- Renters make up 25.0% of the Faribault (zip 55021) population
- 0.6% of houses and apartments in Faribault (zip 55021), 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, Minnesota	United States
	12,330.0	139,647,020.0
	48	42
	$254,600	$338,100
	12.2%	16.6%
	47.9%	57.0%
	94.0%	101.1%
	$9.90	$10.98
	$2,079	$2,690
	66.0%	57.4%
	7.5%	11.2%
	26.5%	31.4%
Vacant Housing
	0.6%	1.9%
	0.2%	0.4%
	0.1%	0.7%
	0.3%	0.4%
	3.3%	3.6%
	3.0%	4.1%
Value of Owner-Occupied Housing
	4.0%	2.6%
	2.7%	2.4%
	0.5%	2.8%
	1.1%	3.9%
	3.4%	4.5%
	16.0%	11.3%
	19.4%	13.0%
	27.2%	20.1%
	15.1%	13.6%
	5.2%	8.3%
	3.3%	9.7%
	0.4%	3.9%
	1.2%	2.2%
	0.0%	0.8%
	0.4%	1.1%
Housing Units by Year Structure Built
	0.2%	0.2%
	14.6%	13.6%
	14.6%	13.6%
	12.8%	13.6%
	7.8%	13.2%
	15.0%	14.8%
	12.8%	13.6%
	10.9%	10.0%
	4.4%	4.7%
	20.8%	12.2%

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