HomeMinnesotaRice CountyFaribault city
Faribault city, Minnesota: commercial real estate data.
Faribault city is a Census city of 24,631 people across 15.71 square miles of land, in Rice County. Median household income is $61,449, 66.1 percent of occupied homes are owned, and the SBA record carries 26 7(a) approvals to borrowers here worth $23.5 m.
77 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Faribault
What Faribault is
- Census place typecity
- Land area15.71 sq mi
- Water area0.28 sq mi
- Population per square mile of land1,568
- County holding the largest share of its areaRice County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Faribault
How many people live in Faribault
- Population24,631
- Median age38.7
- Population under 185,300
- Share under 1821.5 percent
- Population 65 and over4,113
- Share 65 and over16.7 percent
- Households8,938
- Family households5,088
- Share of households that are families56.9 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Faribault
Income and work in Faribault
- Median household income$61,449
- Per capita income$33,225
- Civilian labor force11,699
- Employed11,063
- Unemployed636 plus or minus 291
- Unemployment rate5.4 percent plus or minus 2.5
- Adults 25 and over17,289
- Adults 25 and over with a high school diploma or higher87.9 percent
- Adults 25 and over with a bachelor degree or higher17.6 percent
- Adults 25 and over with a graduate degree6.1 percent plus or minus 1.4
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Faribault
Housing in Faribault
- Housing units9,341
- Occupied units8,938
- Vacant units403 plus or minus 203
- Vacancy rate4.3 percent plus or minus 2.2
- Owner occupied5,905
- Renter occupied3,033
- Ownership rate66.1 percent
- Median owner-occupied home value$241,500
- Median gross rent, monthly$1,074
- Annual rent as a share of median income21.0 percent
- Single family units6,421
- Share single family68.7 percent
- Units in buildings of two or more2,498
- Share in buildings of two or more26.7 percent
- Mobile homes422 plus or minus 150
- Median year structure built1974
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Faribault
How Faribault gets to work
- Workers 16 and over who commute10,314
- Commuting under 15 minutes5,547
- Share commuting under 15 minutes53.8 percent
- Commuting 30 minutes or more2,272
- Share commuting 30 minutes or more22.0 percent
- Drove alone71.1 percent
- Carpooled15.8 percent plus or minus 4.2
- Public transport0.1 percent plus or minus 0.1
- Walked2.7 percent plus or minus 1.3
- Worked from home5.9 percent plus or minus 1.8
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Faribault
SBA loans in Faribault (7(a))
- Approvals26
- Gross approval$23,464,000
- Average approval$902,462
- Median approval$390,200
- Ninetieth percentile approval$3,075,000
- Largest approval$3,718,500
- Jobs supported811
- Jobs per approval31.2
- Loans with a final outcome7
- Paid in full7
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more15.4 percent
- Share to franchises19.2 percent
- Distinct lenders12
- Distinct industries by NAICS16
A charge-off rate is not published here. only 7 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Faribault
SBA loans in Faribault (504)
- Approvals29
- Gross approval$23,467,000
- Average approval$809,207
- Median approval$368,000
- Largest approval$5,500,000
- Jobs supported249
- Loans with a final outcome11
- Charged off0
- Charge-off rate over resolved loans0.0 percent
- Median term240 months
- Distinct CDCs4
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Rice County, not Faribault
Rice County context, not Faribault figures
These are Rice County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Faribault measurements.
- Establishments in Rice County1,600
- Employment at those establishments, Rice County25,126
- Covered employment, Rice County26,196
- Average annual pay, Rice County$60,604
- Average weekly wage, Rice County$1,165
- Housing units permitted, Rice County96
- Of those, single family, Rice County88
- County product, 2024, Rice County$4,083,370,000
- County product change over the prior year, Rice County8.3 percent
- Average income of an arriving household, Rice County$70,255
Every figure in this section is published for Rice County as a whole and is not a measurement of Faribault. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Faribault questions, answered from the record.
How many people live in Faribault, Minnesota?
24,631, in 8,938 households. Faribault city covers 15.71 square miles of land, which is 1,568 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Faribault in?
Rice County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Faribault?
$61,449. The median owner-occupied home is valued at $241,500. Median gross rent is $1,074 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Faribault businesses?
26 7(a) approvals totalling $23.5 m, across 12 lenders, median approval $390,200, plus 29 504 approvals worth $23.5 m. These count approvals to borrowers whose address is in Faribault, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Faribault borrowers get paid back?
No rate is published for Faribault. only 7 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page Faribault figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Rice County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Faribault.
Is zoning published for Faribault?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.
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