Faribault, MN Real Estate
According to census data in the year 2000 there were 7,667 housing units in Faribault.
This represents a 15.9% growth from 6,618 in 1990.
Of those housing units, 7,553 were located in either urbanized areas or urban clusters, and 114 were located in what is classified as a rural area.
Homeownership rate in Faribault is about 73.1%.
Faribault's vacancy rate, including seasonal lodging, is about 2.5%.
Average household size is 2.54 people.
The majority of houses, apartments or condos in Faribault were built after 1963.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1.80% |
| One Bedroom | 14% |
| Two Bedrooms | 25.40% |
| Three Bedrooms | 41.90% |
| Four Bedrooms | 14.60% |
| Five Bedrooms or more | 2.20% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.57 |
| Median year structure was built | 1962 |
| Median Value of occupied units | $105,600 |
| Median Price asked for vacant units | $116,100 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.44 |
| Median year structure was built | 1965 |
| Median Monthly Rent asked for vacant units | $389 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.30% |
| Second Mortgage | 9.20% |
| Home Equity Loan | 8.40% |
| Simple Mortgage | 54.90% |
| Debt Free | 27.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 18.8% |
