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Faraday, ON

Full City Profile · Ontario

2.6 /5.0
C+ Fair
1,612 Population 19/sq mi density
$64,000 Median Income $42,760 per capita
$360,000 Home Value
$900 Median Rent 16.2% income on rent
40°F Avg Temperature 270 sunny days/yr
C+
Overall
2.6 / 5.0
Fair overall score based on economy, affordability, safety and education
C+
Economy
2.5 / 5.0
$64,000 median income, 17.8% unemployment
B+
Affordability
3.5 / 5.0
$360,000 home value, $900/mo rent
C+
Safety
2.5 / 5.0
D
Education
1.8 / 5.0
10.6% bachelor's degree or higher

Faraday, ON

At a Glance

Median Income
$64,000
15% below
$42,760 per capita
Home Value
$360,000
28% above
Median Rent
$900/mo
23% below
16.2% of income on rent
Bachelor's Degree+
10.6%
69% below
27.8% high school+
Unemployment
17.8%
394% above
16.6% poverty rate
Avg Temperature
40°F
270 sunny days/yr

How Faraday Compares to the U.S. Average

Each bar shows Faraday's value as a percentage of the national average (100% = U.S. avg)

Income
85%
Home Value
128%
Rent
77%
Poverty
134%
Bachelor's
31%
Unemployment
494%
Thin vertical line = U.S. national average (100%)

Is Faraday a Good Place to Live?

C+
2.6 / 5.0 - Fair
Based on economy, affordability, safety, and education metrics compared to national averages.

Economy & Jobs

Faraday residents earn a median household income of $64,000 , which is 15% below the national average of $75,149. Per capita income is $42,760. The unemployment rate stands at 17.8% (394% above the U.S. rate of 3.6%). 16.6% of residents live below the poverty line. The area is home to 50 business establishments.

Housing & Cost of Living

The median home value in Faraday is $360,000 , 28% above the national median of $281,900. Median rent is $900/month, with 16.2% of renters spending more than 30% of income on housing.

Education

10.6% of adults in Faraday hold a bachelor's degree or higher (69% below the national average). 27.8% have completed high school.

Climate & Weather

Faraday has an average annual temperature of 40°F (4°C). Winters average 12°F in January while summers reach 65°F in July. The area gets 270 sunny days per year. Annual precipitation totals 36.7 inches.

Data Overview

People

Population1,612
Median Age57.2 yrs
Density19/mi²
Male / Female50% / 51%

Economy

C+
Median Income$64,000
Per Capita$42,760
Unemployment17.8%
Poverty16.6%
Avg Weekly Wage$822

Housing

B+
Home Value$360,000
Rent$900
Ownership90.1%
Housing Units755
Rent Burden16.2%

Crime

C+
Property3,500/100K
Burglary484/100K

Climate

Avg Temp40°F
Sunny Days270/yr
Rain36.7 in/yr
Elevation1,224 ft

Education

D
Bachelor's+10.6%
High School+27.8%
Graduate+2.5%

Community

Commute23 min

Did You Know?

32.5% work from home.