Faribault, MN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2022-04-07
92
Faribault's Overall Cost Of Living
0.9x
Lower Than The National Average
18 out of 147
In Minnesota
1,974 out of 6,412
In America
The cost of living index is set to 100 for the average place in America. An index above 100 means Faribault is expensive, while a number below 100 means it's a relatively cheap place to live.

What is the cost of living in Faribault, MN?

According to the most recent data on the cost of living, Faribault has an overall cost of living index of 92 which is 0.9x lower than the national index of 100.

Compared to only Minnesota, Faribault has a cost of living index that's 0.9x lower than Minnesota's index of 104.

The standard of living in Faribault ranks as #1,974 most affordable out of the 6,418 places we measured in Minnesota. By definition, that implies Faribault ranks as the #4,444 most expensive place in the North Star State.

For more reading on life in Faribault, check out:

Faribault Cost Of Living Vs. Minnesota

Living Expense Faribault Minnesota National Average
Overall 92 104 100
Services 95 106 100
Groceries 102 102 100
Health 122 113 100
Housing 76 101 100
Transportation 99 102 100
Utilities 94 98 100
For more reading on cost of living around Minnesota, check out:
Faribault Cost of Living Vs. MN

Faribault, MN Housing Cost Breakdown

Housing swings affordability the most between places in Minnesota, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

$169,900
Median Home Value
$914
Median Rent
$54,832
Median Income
Statistic Faribault Minnesota United States
Median Home Value $169,900 $235,700 $229,800
Median Rent $914 $1,010 $1,096
Median Income $54,832 $73,382 $64,994
Home Value To Income 3.1x 3.2x 3.5x
Rent To Monthly Income 0.2x 0.17x 0.2x

Detailed Faribault Services Costs Vs. Minnesota

Item Faribault Minnesota
Shampoo $0.92 $1.06
Movie $8.83 $10.68
Bowling $9.17 $14.67

Detailed Faribault Groceries Costs Vs. Minnesota

Item Faribault Minnesota
Ground Beef $4.86 $4.22
Fried Chicken $1.64 $1.39
Milk $2.14 $2.05

Detailed Faribault Health Costs Vs. Minnesota

Item Faribault Minnesota
Haircut $21.16 $18.62
Beauty Salon $30.55 $39.05
Toothpaste $2.27 $2.34

Detailed Faribault Transportation Costs Vs. Minnesota

Item Faribault Minnesota
Potatoes $3.84 $3.29
Pizza $11.66 $10.62
Beer $8.98 $9.38
Optometrist $125.17 $108.57
Doctor $204.33 $116.17
Dentist $101.0 $99.13

Detailed Faribault Utilities Costs Vs. Minnesota

Item Faribault Minnesota
Gasoline $2.2 $2.22
Tire Balancing $47.72 $50.07
All Electricity $157.58 $167.67
Phone $182.1 $175.64

Faribault SnackAbility

6
/10
Overall SnackAbility
Jobs
6/10
Housing
8
Affordability
7
Diversity
8.5
Safety
6
Amenities
8.5
Education
6
Commute
8.5

Cost Of Living In Cities Around Faribault

City Population Cost Of Living Vs. Faribault
Woodbury, MN 71,298 122 1.3x
Lakeville, MN 65,710 116 1.3x
Eden Prairie, MN 64,481 121 1.3x
Minnetonka, MN 53,760 121 1.3x
Apple Valley, MN 53,728 112 1.2x
Edina, MN 52,215 135 1.5x
Owatonna, MN 25,716 92 1.0x
Golden Valley, MN 21,611 116 1.3x
Northfield, MN 20,399 105 1.1x
Mendota Heights, MN 11,339 125 1.4x

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