Faribault city, Minnesota demographics and economy

Census American Community Survey 2023 5-Year Estimates for Faribault city, Minnesota.

Population
24,458
Median HH Income
$61,662
Median Home Value
$233,900
Median Age
38.4

Workforce

Unemployment rate
5.7%
634 unemployed of 11,082 in labor force
Bachelor's degree or higher
11.7%
of population age 25+ (16,790 total)
Below poverty line
15.9%
3,547 of 22,285 surveyed

Housing & cost of living

Median home value
$233,900
owner-occupied housing units
Median gross rent
$1,041/mo
renter-occupied units, all bedrooms

Related resources

Federal contracts in Minnesota
GovBids — SAM.gov opportunities and award data filtered by state.
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NewFilings — fresh business registrations from Secretary of State filings.
Federal & state grants
FindGrants — 60,000+ grant opportunities indexed and matchable.
Minnesota business markets by county
Establishments, employment, and payroll by NAICS sector.
Market size estimator
Estimate TAM/SAM/SOM for any NAICS code and geography.
Opportunity index
Composite score of growth, market size, and demographic signal.

Similar-sized Minnesota places

Data source: U.S. Census Bureau American Community Survey 2023 5-Year Estimates (Table B). Geography: place (incorporated city/town/CDP). Public domain (USA.gov).

Indicators: B01003 (population), B19013 (median household income), B25077 (median home value), B01002 (median age), B25064 (median gross rent), B23025 (labor force/unemployment), B15003 (educational attainment), B17001 (poverty).

Generated 2026-05-27. Census applies suppression rules to small populations; some values may be unavailable.