Commercial Real Estate Market in Faribault, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
23 active listings and 712 off-market properties in Faribault, MN.
Market Trends
Faribault, MN spans 177.0 square miles in Rice County, Minnesota. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Faribault, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Faribault, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
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%.
Multifamily
Multifamily space in Faribault, MN has a median asking sale price of $125/SF (based on 4 listings). Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
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
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.
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.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Faribault?
What zoning applies to commercial property in Faribault?
Where does Realmo's Faribault market data come from?
Methodology & data sources
- Asking prices and medians
- There are 14 active for-sale and 9 active for-lease listings in Faribault, MN. The sale median is based on 5 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- 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 October 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 October 2026 · How Realmo checks market page data · Report a data issue
