What percentage of people rent in Faribault, MN?

Name: Renters and owners in Faribault, MN, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

33.9% (±3.7 points) of the occupied homes in Faribault, MN are rented (2020–2024 American Community Survey).

That is 3,033 renting households against 5,905 that own their home.

In Faribault, the share of households that rent went from 36.0% in 2015–2019 to 33.9% in 2020–2024 (−2.1 percentage points), not a measurable change.

Figures last updated on November 12, 2026.

Households that rent: 33.9% (±3.7 points)
Renting households: 3,033 (±345)
Median renter income: $34,724 (±$2,645)

Who rents and who owns in Faribault

Tenure, estimate (90% margin of error)
	Faribault	Rice County	Minnesota	United States
Renter-occupied share	33.9% (±3.7 points)	23.7% (±2.0 points)	27.8% (±0.2 points)	34.8%
Renting households	3,033 (±345)	5,575 (±465)	641,268 (±4,528)	45,017,354
Owning households	5,905 (±426)	17,918 (±521)	1,666,687 (±7,556)	84,210,142
Average renter household size	2.5 (±0.3)	2.3 (±0.2)	2.0 (±0.0)	2.3
Average owner household size	2.5 (±0.1)	2.6 (±0.1)	2.6 (±0.0)	2.6
Median renter household income	$34,724 (±$2,645)	$42,068 (±$6,105)	$51,080 (±$531)	$52,966
Median owner household income	$83,795 (±$7,254)	$97,004 (±$3,756)	$108,214 (±$476)	$100,009

In Faribault, the renter share is higher than in Rice County (23.7%).

It is also higher than in Minnesota (27.8%).

It is not measurably different from the national figure (34.8%).

In Rice County, Faribault ranks 1 of 20 places with a published estimate, from highest to lowest renter share.

Statewide, it ranks 185 of 2,628.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How renting in Faribault has changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Households that rent	36.0% (±3.5 points)	33.9% (±3.7 points)	−2.1 percentage points	Not a measurable change
Median gross rent	$822 (±$59)	$1,074 (±$100)	+30.7%	No measurable change after inflation
Median household income	$50,702 (±$7,217)	$61,449 (±$3,728)	+21.2%	No measurable change after inflation

The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.

Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.

The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.

Households that rent in places near Faribault

Nearest places with a published estimate, compared with Faribault
Place	Distance	Households that rent	Compared with this place
Faribault	—	33.9% (±3.7 points)	—
Wells Township	4.0 mi	10.5% (±7.1 points)	Lower
Cannon City Township	4.3 mi	6.1% (±3.5 points)	Lower
Warsaw Township (Rice County)	5.4 mi	3.0% (±1.8 points)	Lower
Walcott Township	5.5 mi	8.4% (±4.0 points)	Lower
Forest Township (Rice County)	8.4 mi	8.7% (±5.5 points)	Lower
Bridgewater Township	8.8 mi	1.9% (±1.6 points)	Lower
Wheeling Township	8.9 mi	5.2% (±3.5 points)	Lower
Medford Township	9.0 mi	6.6% (±5.3 points)	Lower

Nearby places with a measurably lower figure: Wells Township, MN (10.5%), Cannon City Township, MN (6.1%), Warsaw Township (Rice County), MN (3.0%).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Households that rent across Rice County, place by place

Rank	Place	Households that rent
1	Faribault	33.9% (±3.7 points)
2	Northfield	30.7% (±3.8 points)
3	Morristown	23.3% (±10.5 points)
4	Morristown Township	14.7% (±8.0 points)
5	Shieldsville Township	11.2% (±6.4 points)
6	Richland Township	10.6% (±7.1 points)
7	Wells Township	10.5% (±7.1 points)

Showing 7 of 20 places in Rice County, ranked from highest to lowest.

Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.

Margins of error are at the 90% confidence level.

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Questions about Faribault

How many renters are there in Faribault?

Faribault has an estimated 3,033 (±345) renting households, 33.9% of its occupied homes (2020–2024 American Community Survey).

Is renting growing in Faribault?

In Faribault, the share of households that rent went from 36.0% in 2015–2019 to 33.9% in 2020–2024 (−2.1 percentage points), not a measurable change.

How big are renting households in Faribault?

A renting household in Faribault has 2.5 people on average, against 2.5 in an owned home.

How much do renters earn in Faribault?

The median renting household in Faribault, MN has an income of $34,724 (±$2,645) a year, against $83,795 for households that own their home.

Sources

To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Faribault city, Minnesota (place:20546, in state:27).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are DP04_0047PE, DP04_0047PM, B25064_001E, B25064_001M, B19013_001E, B19013_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0047PE, DP04_0047PM, DP04_0047E, DP04_0047M, DP04_0046E, DP04_0046M, DP04_0049E, DP04_0049M, DP04_0048E, DP04_0048M, B25119_003E, B25119_003M, B25119_002E, B25119_002M

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.