City profile
Faribault, MN
Rice County · Population 24,631
Faribault is a town in Rice County, MN with about 24,631 residents and a typical home value near $242,000. It is 45 miles from Rochester, MN, which shapes its climate, healthcare access and amenities.
Climate
Climate type
Four seasons
Winter avg
15°F
Summer avg
72°F
Sunny days / yr
195
Home prices & cost of living
Median home price
$241,500
Typical monthly housing
$1,523
Cost of living (100 = U.S.)
88
Taxes
- Property tax
- 1.05%
- State income tax (top)
- 9.85%
- Social Security
- Taxed (with exemptions)
- Pensions
- Partly exempt
- Sales tax (state + avg. local)
- 8.04%
FEMA natural hazard risk
Relatively Low · county score 75/100
Top hazards: Strong wind, Hail, Tornado
Nearest major airport
40 mi to Minneapolis–Saint Paul International Airport / Wold–Chamberlain Field (MSP)
Political lean (2024 county vote)
Competitive / purple · 48% Democratic / 50% Republican
Community
Population
24,631
Black population
16.6%
County
Rice County
Detailed crime figures are available for our 201 hand-researched cities.
2025–2026 trends
2026 market trends
- ▸Home insurance premiums are rising quickly here
- ▸Home prices are still rising in 2026 — good for long-term value, less room to negotiate
- ▸Climate/cost risks to check: hail, extreme cold
Highlights
- About 24,631 residents
- Typical home value about $242,000
- 45 miles from Rochester, MN
Trade-offs
- Scores for this place are estimated from Census data and the nearest major city
Figures are estimates from public sources (see How we match). Verify before making decisions.