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Real Estate Prices & Overview

Faribault Southwest median real estate price is $342,563, which is more expensive than 51.1% of the neighborhoods in Minnesota and 48.8% of the neighborhoods in the U.S.

The average rental price in Faribault Southwest is currently $1,068, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 90.4% of Minnesota neighborhoods.

Faribault Southwest is a suburban neighborhood (based on population density) located in Faribault, Minnesota.

Faribault Southwest real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Faribault Southwest neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Faribault Southwest are 4.0%, which is lower than one will find in 73.2% of American neighborhoods. Demand for real estate in Faribault Southwest is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Faribault Southwest neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 58.1% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 95.4% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Diversity

Did you know that the Faribault Southwest neighborhood has more Norwegian and Czechoslovakian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.0% of this neighborhood's residents have Norwegian ancestry and 0.7% have Czechoslovakian ancestry.

Faribault Southwest is also pretty special linguistically. Significantly, 12.2% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.8% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Faribault Southwest neighborhood in Faribault are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 57.1% of the neighborhoods in America. With 13.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 56.7% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Faribault Southwest neighborhood, 37.1% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 30.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.3%), and 15.7% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Faribault Southwest neighborhood is English, spoken by 69.4% of households. Other important languages spoken here include Spanish and African languages.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Faribault Southwest neighborhood in Faribault, MN, residents most commonly identify their ethnicity or ancestry as Mexican (25.3%). There are also a number of people of German ancestry (22.7%), and residents who report Sub-Saharan African roots (13.6%), and some of the residents are also of Norwegian ancestry (12.0%), along with some English ancestry residents (4.3%), among others. In addition, 18.2% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Faribault Southwest neighborhood spend under 15 minutes commuting one-way to work (58.1% of working residents), one of the shortest commutes across America.

Here most residents (81.6%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (10.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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