Commercial Real Estate Market in Faribault, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
29 active listings and 712 off-market properties in Faribault, MN. Commercial property asks $574/SF to buy and $10.40/SF/Yr to lease.
Market Trends
Faribault, MN spans 177.0 square miles in Rice County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Faribault, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Faribault, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Faribault, MN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Faribault, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 44%
- Commercial 29.6%
- Industrial 13.2%
Largest Zones share of zoned land by district
Low Density Residential
Agriculture And Open Space
Transitional Urban Development
Single Family Residential
Highway Commercial
Faribault, MN zones 10,182 acres across 15 districts. Commercial zoning covers 29.6% of zoned land, residential 44% and industrial 13.2%. The largest single district is Low Density Residential at 20.9%. For commercial buyers the practical constraint is that only 42.8% of land carries a commercial or industrial designation.
Agriculture And Open Space (O)
The intent of the open space/agricultural district is to accommodate open space, parks, outdoor recreation, agriculture, and agricultural business uses within the city. The district may also accommodate airport, public services, and utility uses
Market overview
Demographics & Economy
Faribault, MN has 30,636 residents in 12,421 households. Density runs 173 people per square mile. Median household income here is $70,296 and median gross rent $1,044 a month.
30,636
Population
12,421
Households
2.5
Avg Household Size
40
Median Age
20%
College-Educated
90%
High-School Grad
177 sq mi
ZIP Area
173
Density / Sq Mi
$70,296
Median Household Income
$39,914
Median Earnings
$1,044
Median Rent
$267,600
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Douglas | — | — |
| Warsaw | — | — |
| Deerfield | — | — |
| Medford | — | — |
Commercial property in Faribault, MN asks $574/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Faribault?
Commercial property in Faribault, MN asks an average of $574 per square foot. The 5 most recent recorded sales traded at a median of $310/SF, so asking sits 85% above the achieved median.
How much does it cost to lease commercial space in Faribault?
Asking lease rates in Faribault, MN average $10.40 per square foot per year.
What zoning applies to commercial property in Faribault?
Faribault, MN zones 10,182 acres across 15 districts, of which 29.6% is commercial and 13.2% industrial. The largest single district is Low Density Residential at 20.9% of zoned land. Residential zoning covers 44% and open space 0%.
Where does Realmo's Faribault market data come from?
Realmo compiles Faribault, MN figures from 6 recent recorded sales, 25 active sale listings, 4 active lease listings, 712 tracked off-market properties, the current Faribault zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 25 active for-sale and 4 active for-lease listings in Faribault, MN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 10,182 zoned acres across 15 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
