Median Income
$64,000
15% lower than US avg
Home Value
$360,000
28% higher than US avg
Bachelor's+
10.6%
69% lower than US avg
Median Rent
$900
23% lower than US avg
Unemployment
17.8%
394% higher than US avg
Poverty Rate
16.6%
34% higher than US avg
How Faraday Compares to the U.S. Average (100% = U.S. avg)
People
Population1,612
Median Age57.2 yrs
Density19/mi²
Male / Female50% / 51%
Largest GroupWhite 99%
Economy
C+
Median Income$64,000
Per Capita$42,760
Unemployment17.8%
Poverty16.6%
Commute23 min
Housing
B+
Home Value$360,000
Rent$900
OwnershipN/A
Housing Units755
Rent Burden16.2%
Climate
Avg TempN/A
Elevation1,224 ft (373 m)
Education
D
Bachelor's+10.6%
High School+27.8%
Graduate+2.5%
Is Faraday a Good Place to Live?
Based on current data, Faraday receives an overall livability score of 2.6 out of 5.0, earning a grade of C+. Areas to be aware of include above-average unemployment, an elevated poverty rate. Faraday has some notable strengths but also faces challenges that prospective residents should consider.
Economy & Jobs
The median household income in Faraday is $64,000, 15% below the national average of $75,149. At 17.8%, unemployment is notably high. The poverty rate of 16.6% exceeds the national average of 12.4%, indicating economic hardship for a significant portion of the population. Workers commute an average of 23 minutes.
Cost of Living & Housing
The median home value in Faraday is $360,000, 28% above the national median. Renters pay a median of $900 per month, below the national average — a plus for affordability. The price-to-income ratio of 5.6x means housing costs are stretched relative to local earnings.
Education
10.6% of residents hold a bachelor's degree, below the national average of 33.7%. 27.8% have completed high school.
Faraday has a population of 1,612 with a density of 19 people per square mile. The median age is 57.2 years, 47% older than the national median of 38.9. The city is predominantly White (99%).
Population
57.2yrs
Median Age
47% above US avg
Language Spoken at Home
| English Only | 94.4% |
| 20% above US avg |
| Spanish | 1.2% |
| 91% below US avg |
| Other Languages | 4.4% |
The median household income in Faraday is $64,000, which is 15% below the national average of $75,149. The unemployment rate is 17.8% (above the 3.6% US average). 16.6% of residents live below the poverty line. Workers commute an average of 23 minutes.
Income
| Median HH Income | $64,000 |
| 15% below US avg |
| Per Capita Income | $42,760 |
Employment & Poverty
| Unemployment | 17.8% |
| 394% above US avg |
| Poverty Rate | 16.6% |
| 34% above US avg |
Commute & Transportation
| Commute Time | 23.4 min |
| Drive Alone | 84.3% |
| Public Transit | 0.0% |
| Work from Home | 32.5% |
The median home value in Faraday is $360,000, 28% above the national average. Monthly rent averages $900 (23% below US avg).
Home Values
| Census Median | $360,000 |
| 28% above US avg |
Real Estate Market (Redfin)
Rental Costs
| Census Median Rent | $900 |
| 23% below US avg |
| Rent Burden | 16.2% |
Ownership & Property
| Owner-Occupied | 90.1% |
| Renter-Occupied | 9.9% |
| Housing Units | 755 |
Property Tax