Cost of Living in Faribault, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
102.5
100 = national avg
+2.5 vs national average
Living Wage (1 Adult)
$45,096
per year
Living Wage (Family of 4)
$106,591
per year
Cost Index by Category
Housing116.2
Food97.1
Transportation88.0
Healthcare97.7
Utilities101.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$905
per month
2 Bedroom
$1,187
per month
The overall cost of living index in Faribault is 102.5, which is 2.5% above the national average. Housing costs are above the national average at an index of 116.2. A single adult needs to earn approximately $45,096 per year to cover basic expenses.