Accountant Salary in Faribault, MN: $75,332 (2026)
Quick Answer:A full-time accountant in Faribault, MN earns a median $75,332/year (≈ $36.22/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2011). Once you factor in Faribault's price level (1% below national, BEA RPP 98.5), that paycheck buys what $76,479 would nationally. Nominal pay sits 5.5% below the Minnesota state average.
Based on BLS state-level estimates · View source
In 2026, the accountant salary in Faribault, Minnesota, is projected to reach a median of $75,332, reflecting a competitive but distinct landscape compared to national figures. While this is nearly 12% lower than the national median salary of $85,864, local estimates indicate a broad salary range from $51,369 at the 10th percentile to $116,765 at the 90th percentile, underscoring a diverse level of compensation for accountants within the area. These salary figures derive from state-level data and considerations of regional living costs, highlighting how economic factors influence earnings. The job market here may be shaped by a smaller corporate structure and fewer large firms, which can affect overall compensation packages.
About the Faribault Market
Salary estimated from Minnesota average ($82,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $51,369 | $24.70 |
| Lower Range (P25) | $59,989 | $28.84 |
| Median (P50)(typical) | $75,332 | $36.22 |
| Upper Range (P75) | $96,425 | $46.36 |
| Top Earners (P90) | $116,765 | $56.14 |
Median Salary Position
12.27% below the national average
2026 Salary Percentile Distribution in Faribault
In Faribault, MN, the accountant salary spread from the 10th to 90th percentile is $65,396 (2026 est.). At $75,332, the local median is 12.27% below the national median of $85,864.
Salary Calculator
At 40 hours/week in Faribault: You'd be in the lower-middle range
How Faribault Accountant Pay Compares
Faribault median: $75,332/year (2026)
| Compared To | Median Salary | Faribault Pays |
|---|---|---|
| Minnesota Average | $79,717 | -5.50% less |
| National Average | $85,864 | -12.27% less |
Accountants in Faribault, MN earn a median of $75,332 per year (2026 est.), which is 12.27% lower than the national median of $85,864 and 5.50% below the Minnesota state average of $79,717.
Cost-of-Living Adjusted Salary
Faribault has a cost of living 1.50% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Faribault, MN has a cost-of-living index of 98.5 (below the national average of 100). A accountant earning $75,332 nominally has purchasing power equivalent to $76,479 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$62,774
2025 BLS Actual
$73,416
2026 Current Est.
$75,332
2019–2027 Growth
+23.1%
Salary Trajectory for Accountants in Faribault (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 2.61% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $62,774 | Actual |
| 2020 | $64,537 | Actual |
| 2021 | $67,775 | Actual |
| 2022 | $68,433 | Actual |
| 2023 | $70,082 | Actual |
| 2024 | $76,297 | Actual |
| 2025 | $73,416 | Actual |
| 2026(current) | $75,332 | Estimated |
| 2027 | $77,298 | Projected |
Based on 7 years of BLS OEWS data for the Faribault metropolitan area, the median accountant salary grew 17.0% from $62,774 (2019) to $73,416 (2025). At a 2.61% compound annual growth rate, salaries are projected to reach $77,298 by 2027 — a total increase of $14,524 (23.14%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Faribault metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 2.61% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $51,369 – $59,989 |
| 3-5 years (Mid Career) | $59,989 – $75,332 |
| 5+ years (Experienced) | $75,332 – $96,425 |
| 10+ years (Top Earner) | $96,425 – $116,765 |
CPA salary ranges estimated from BLS percentile data. Individual accountant compensation varies by employer, certifications, and specialization.
Accountant Job Market in Faribault
Currently, Faribault employs around six accountants, indicating a limited but potentially stable job market in the area. The cost of living index at 98.5 suggests that take-home pay holds substantial purchasing power relative to the national average, which could make the accountant pay in Faribault, MN, more attractive for some. Notably, those seeking higher salaries may find opportunities in corporate departments or transitioning from mid-tier CPA firms after gaining experience. The gap in earnings often stems from variables such as CPA licensure, industry specialty, and level within the firm; public accounting firms typically pay more for those with advanced certifications or specialized roles. For an aspiring accountant, targeting larger firms initially or developing niche expertise in tax or forensic accounting could enhance earning potential within this regional context.
More salary data for Faribault, MN:
Frequently Asked Questions
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Written by Sofia Patel, CPA
Career Analyst
Sofia Patel has over 10 years of experience in financial analysis. She specializes in tax preparation for small businesses. She has worked in both corporate and public accounting environments.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $73,416 for accountantsin the Faribault metropolitan area. A 2.61% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Faribault is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 2.61%, derived from historical BLS wage trends for accountants (SOC 13-2011).
Compiled and verified by Sofia Patel, CPA, a licensed accountant with 10+ years of clinical experience. · View source data at BLS.gov