Market Overview
Home Prices in Faribault, MN
The median home value in Faribault, MN is $308,774 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.9% compared to a year ago and up 4.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Faribault are priced25% below average. Faribault is part of the Faribault-Northfield, MN metro area.
Over the past five years, Faribault home values have risen by approximately25.0%, reflecting strong long-term appreciation in this market.
Price History
Faribault Home Price Trend
City Comparison
Faribault vs. National Median
At $308,774, homes in Faribault cost 25% below the national median of $410,000. This makes Faribault a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Faribault?
20% Down Payment
$61,755
on $308,774
Monthly P&I
$1,610/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,045/mo
incl. taxes & insurance
Income Needed
$81,800
gross annual (30% rule)
10% Down Option
$30,877
+ PMI applies
Loan Amount (20% dn)
$247,019
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Faribault, MN?
The median home value in Faribault is $308,774 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.9% year-over-year.
How much have home prices changed in Faribault?
Over the past year, home values in Faribault have increased by 2.9%. Over five years, prices have risen approximately 25.0%.
How much do I need to earn to buy a home in Faribault?
To comfortably afford the median home price of $308,774 with a 20% down payment ($61,755) at today's rates (6.8%), you'd need a gross annual income of approximately $81,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Faribault compare to the national average home price?
The national median home value is approximately $410,000. At $308,774, homes in Faribault are 25% below the national average.
What metro area is Faribault part of?
Faribault is part of the Faribault-Northfield, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.