Side-by-side comparison of home prices, mortgage payments, and housing costs between Faribault and Winona, Minnesota. Using Minnesota's 1.12% property tax rate and $2,100/year insurance. Updated for 2026.
Winona edges out Faribault in affordability, saving you roughly $70/month on total housing costs. Both cities are in Minnesota, so property tax rates and insurance costs are the same — the difference comes down to home prices and what you get for your money in each market.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Minnesota's 1.12% property tax rate.
Buying in Winona saves you approximately $70/month ($840/year) compared to Faribault, based on median home prices with identical loan terms.
Winona is the better choice for first-time buyers, with a median price of $215K versus $225K in Faribault. That's $10K less to save for a down payment. You'd need roughly $8K for an FHA 3.5% down payment in Winona, compared to $8K in Faribault. Minnesota offers the Minnesota Housing Start Up program (Up to $18,000 deferred loan) which applies in both cities.
Winona has the better price-to-rent ratio at 19.5x versus 19.7x in Faribault. A lower ratio generally signals better rental income relative to purchase price. Average rent in Winona is $920/month on a $215K median home, making it a stronger candidate for buy-and-rent investors.
Winona (pop. 26,232) offers more amenities, schools, and services typical of a larger city, while Faribault (pop. 23,913) may offer a quieter, more community-oriented lifestyle. Winona offers both more options and lower housing costs, making it attractive for families who want urban amenities without a premium price.