Faribault, MN vs Thief River Falls, MN

There is a significant gap in the cost of living between these two cities. Thief River Falls is 19.2% cheaper than Faribault. With a cost index of 71 vs 84, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Thief River Falls to Faribault should plan for substantially higher expenses across most categories.

On the housing front, median rent in Faribault is $1,041/month compared to $884/month in Thief River Falls — a 18% difference. Home values follow the same pattern: Thief River Falls is more affordable at $169,300 median vs $233,900.

Median household income in Faribault is $61,662 compared to $65,244 in Thief River Falls (-5.5%). Thief River Falls offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Faribault spend roughly 20.3% of their income on rent, more than the 16.3% in Thief River Falls.