Faribault, MN home prices
Typical home $350,912 · +2.2% in a year · income needed $100,600
The Faribault, MN metro area ranks 221 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +2.2% in a year and +20.4% over five years. With 20% down at 7.11%, the typical home costs about $2,348 a month including 0.97% property tax (Rice County rate).
Mortgage on the typical Faribault home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $70,182 | $280,730 | $1,888 | $0 | $460 | $2,348 | $100,600 |
| 10% down | $35,091 | $315,821 | $2,125 | $132 | $460 | $2,716 | $116,400 |
| 5% down | $17,546 | $333,367 | $2,243 | $139 | $460 | $2,841 | $121,800 |
| 3.5% down (FHA) | $12,282 | $344,556 | $2,318 | $155 | $460 | $2,933 | $125,700 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.97% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Faribault area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Rice County, MN | $350,912 | +2.2% | 0.97% |
What can you afford in Minnesota on your salary? · Minnesota home prices · Salaries in Minnesota
Frequently asked questions
How much is a house in Faribault?
The typical home in the Faribault, MN metro area is worth $350,912 (Zillow, September 2026).
What salary do you need to buy a house in Faribault?
About $100,600 a year for the typical home with 20% down at 7.11%.