Faribault, MN vs Waseca, MN

There is a significant gap in the cost of living between these two cities. Waseca is 15.6% cheaper than Faribault. With a cost index of 73 vs 84, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Waseca 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 $796/month in Waseca — a 31% difference. Home values follow the same pattern: Waseca is more affordable at $185,600 median vs $233,900.

Median household income in Faribault is $61,662 compared to $61,546 in Waseca (+0.2%). Faribault does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Faribault spend roughly 20.3% of their income on rent, more than the 15.5% in Waseca.