Medical Billing and Coding Specialist Salary in Faribault, MN: $16,378 (2026)
Quick Answer:A full-time medical billing and coding specialist in Faribault, MN earns a median $16,378/year (≈ $7.88/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 29-2072). Once you factor in Faribault's price level (1% below national, BEA RPP 98.5), that paycheck buys what $16,627 would nationally. Nominal pay sits 5.5% below the Minnesota state average.
Based on BLS state-level estimates · View source
In 2026, the medical billing and coding specialist salary in Faribault, MN, median annual pay is projected to be $16,378, considerably lower than the national average of $30,349. The local salary range spans from $12,110 at the 10th percentile to $24,954 at the 90th percentile, reflecting a diverse landscape influenced by various coding specialties. Those specializing in inpatient coding (CCS) typically command higher wages than those focused on outpatient coding (CPC) or risk adjustment specialties, particularly as healthcare facilities seek proficient individuals who can navigate complex coding systems expertly. The figures provided are estimates based on 2025 BLS data, adjusted for regional cost considerations, and they reveal the competitive dynamics of Faribault's job market for aspiring medical coders.
About the Faribault Market
Salary estimated from Minnesota average ($54,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $12,110 | $5.82 |
| Lower Range (P25) | $13,879 | $6.67 |
| Median (P50)(typical) | $16,378 | $7.88 |
| Upper Range (P75) | $20,570 | $9.89 |
| Top Earners (P90) | $24,954 | $12.00 |
Median Salary Position
46.03% below the national average
2026 Salary Percentile Distribution in Faribault
In Faribault, MN, the medical billing and coding specialist salary spread from the 10th to 90th percentile is $12,844 (2026 est.). At $16,378, the local median is 46.03% below the national median of $30,349.
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At 40 hours/week in Faribault: You'd be in the lower-middle range
How Faribault Medical Billing and Coding Specialist Pay Compares
Faribault median: $16,378/year (2026)
| Compared To | Median Salary | Faribault Pays |
|---|---|---|
| Minnesota Average | $17,332 | -5.50% less |
| National Average | $30,349 | -46.03% less |
Medical Billing and Coding Specialists in Faribault, MN earn a median of $16,378 per year (2026 est.), which is 46.03% lower than the national median of $30,349 and 5.50% below the Minnesota state average of $17,332.
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 medical billing and coding specialist earning $16,378 nominally has purchasing power equivalent to $16,627 in an average-cost city — an effective 1.52% boost.
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2021 BLS Actual
$14,605
2025 BLS Actual
$16,007
2026 Current Est.
$16,378
2021–2027 Growth
+14.7%
Salary Trajectory for Medical Billing and Coding Specialists in Faribault (2021–2027)
2021–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 2.32% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2021 | $14,605 | Actual |
| 2022 | $14,768 | Actual |
| 2023 | $15,268 | Actual |
| 2024 | $50,245 | Actual |
| 2025 | $16,007 | Actual |
| 2026(current) | $16,378 | Estimated |
| 2027 | $16,758 | Projected |
Based on 5 years of BLS OEWS data for the Faribault metropolitan area, the median medical billing and coding specialist salary grew 9.6% from $14,605 (2021) to $16,007 (2025). At a 2.32% compound annual growth rate, salaries are projected to reach $16,758 by 2027 — a total increase of $2,153 (14.74%) from 2021.
Note: Historical values (2021–2025) 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 2.32% CAGR derived from 5-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) | $12,110 – $13,879 |
| 3-5 years (Mid Career) | $13,879 – $16,378 |
| 5+ years (Experienced) | $16,378 – $20,570 |
| 10+ years (Top Earner) | $20,570 – $24,954 |
MBS salary ranges estimated from BLS percentile data. Individual medical billing and coding specialist compensation varies by employer, certifications, and specialization.
Medical Billing and Coding Specialist Job Market in Faribault
Currently, there are six medical billing and coding specialists working in Faribault, influenced by a cost-of-living index of 98.5, which is slightly below the national average. This factor impacts take-home pay, emphasizing the need for locally competitive compensation strategies. Among the primary employers, hospitals and third-party coding companies are likely to offer the most competitive salaries, particularly in roles that require remote work flexibility. The earnings potential significantly varies based on specialization and credentials; thus, pursuing additional certifications like CPC, CCS, or CRC can enhance salary prospects. Factors such as compliance auditing requirements and productivity bonuses also contribute to pay differences. For those entering or advancing in the field, gaining expertise in high-demand areas, such as risk adjustment coding, can provide a solid pathway to maximize earnings in Faribault's evolving job market.
More salary data for Faribault, MN:
Frequently Asked Questions
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Written by Amina Patel, CPC
Career Analyst
Amina has 10 years of experience in medical billing. She specializes in outpatient coding for multi-specialty practices.
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 $16,007 for medical billing and coding specialistsin the Faribault metropolitan area. A 2.32% 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 2.32%, derived from historical BLS wage trends for medical billing and coding specialists (SOC 29-2072).
Compiled and verified by Amina Patel, CPC, a licensed medical billing and coding specialist with 10+ years of clinical experience. · View source data at BLS.gov