Faribault County, Minnesota Income Statistics
Faribault County Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
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B
Faribault County Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Faribault County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,234 | $89,852 | $80,455 |
| Median Personal Income | $50,555 | $67,028 | $60,758 |
| Average Yearly Income Growth | 4.1% | 4.4% | 4.8% |
| Six-Figure Earners | 8.7% | 15.1% | 13.9% |
| $200k+ Households | 5.7% | 13.8% | 13.2% |
The median household income in Faribault County is about 25% lower than in Minnesota. Income has been growing slower in Faribault County (4.1%/yr) than in Minnesota (4.4%/yr).
About 9% of adults in Faribault County earn six figures ($100,000 or more) a year, lower than the Minnesota average of 15%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Faribault County, Minnesota grew by 66.0% from 2009 to 2024, reaching $67,234 in 2024. That's an average of about 4.1% per year.
Income Inequality and the Gender Pay Gap in Faribault County
| Metric | Faribault County | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.493 | 0.507 | 0.552 |
| Male Median Income | $60,839 | $74,898 | $69,667 |
| Female Median Income | $46,936 | $62,922 | $56,850 |
| Gender Pay Gap | 22.9% | 16.0% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Faribault County, it is 0.493, lower than Minnesota's 0.507, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 30% more than women's income in Faribault County, Minnesota. Over a 35-year career, a 30% wage gap accumulates to roughly $486,605 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Faribault County, Minnesota has narrowed from about 24% to 23% in 2024. Over that period the gap was widest at 27% in 2015, and was narrowest at 16% in 2011. In dollar terms, the gap has widened by $5,142 since 2009.
Employment
| Metric | Faribault County | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 4.1% | 5.2% |
| Working from Home | 8.2% | 17.6% | 15.0% |
| Commute time (minutes) | 15 | 20 | 22 |
Approximately 239 people are unemployed in Faribault County, Minnesota.
The average commute time in Faribault County is 15 minutes, shorter than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Faribault County, Minnesota has fallen from 5.4% to 3.4% in 2024. Over that period the rate peaked at 5.7% in 2013 and fell as low as 2.8% in 2017.
Faribault County, MN Wealth Compared With Nearby Counties
Faribault County, MN is the 5th largest of the 6 counties compared here, 13,914 residents against a local median of 18,885. Faribault County, MN sits close to the middle of its own neighbourhood. No measure below is more than 15% off the local median, so the choice between these counties turns on things this data does not capture.
The largest of those small differences is unemployment, 11% above the local median at 3.4% against 3.0%. Faribault County, MN has the 4th lowest unemployment of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Faribault County, MN | 13,914 | $67,234 #5/6 | 4.1%/yr #5/6 | 3.4% #4/6 | 0.493 #3/6 |
| Winnebago County, IA | 10,583 | $67,930 | 4.2%/yr | 3.0% | 0.492 |
| Blue Earth County, MN | 69,837 | $74,407 | 4.5%/yr | 4.9% | 0.521 |
| Waseca County, MN | 18,885 | $76,286 | 4.1%/yr | 2.5% | 0.508 |
| Kossuth County, IA | 14,516 | $67,165 | 2.6%/yr | 1.9% | 0.481 |
| Freeborn County, MN | 30,623 | $70,120 | 4.6%/yr | 4.6% | 0.495 |
Conclusion
Considering all these factors, Faribault County, Minnesota has an overall wealth index grade of B, making it somewhat worse than Minnesota, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Faribault County, Minnesota.
How Rich Is Faribault County, Minnesota?
Faribault County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $67,234, about 25% lower than the Minnesota average of $89,852.
How fast is household income rising in Faribault County, Minnesota?
Between 2009 and 2024, the median household income in Faribault County, Minnesota rose 66%, from $40,494 to $67,234. Over the same years, income here outpaced Minnesota as a whole: +66% against +57%.
What was the median household income in Faribault County in 2023?
In 2023, the median household income in Faribault County, Minnesota was $63,662, down 1% from $64,016 in 2022. The Minnesota median that year was $88,324.
What was the median household income in Faribault County in 2020?
In 2020, the median household income in Faribault County, Minnesota was $54,644. By 2024 it had risen 23% to $67,234.
What is the Gini coefficient in Faribault County, Minnesota?
The Gini coefficient in Faribault County is 0.493. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Faribault County, Minnesota?
Since 2009, the income gap between men and women in Faribault County, Minnesota has narrowed from about 24% to 23% in 2024. Over that period the gap was widest at 27% in 2015, and was narrowest at 16% in 2011. In dollar terms, the gap has widened by $5,142 since 2009.
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