What is the cost of living in Fairmont, MN?
According to the most recent data on the cost of living, Fairmont has an overall cost of living index of 94, which is 0.9x lower than the national index of 100.
Compared to Minnesota, Fairmont has a cost of living index that's 0.9x lower than Minnesota's index of 101.
The standard of living in Fairmont ranks as #17 most affordable out of the 151 places we measured in Minnesota. By definition, that implies Fairmont ranks as the #134 most expensive place in the North Star State.
For more reading on life in Fairmont, check out:
Fairmont Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Fairmont. Here is how it fares on each of the criteria:
The Services index in Fairmont is 98.
The Groceries index in Fairmont is 102.
The Health index in Fairmont is 73.
The Housing index in Fairmont is 97.
The Transportation index in Fairmont is 105.
The Utilities index in Fairmont is 100.
| Living Expense | Fairmont | Minnesota | National Average |
|---|---|---|---|
| Overall | 94 | 101 | 100 |
| Services | 98 | 101 | 100 |
| Groceries | 102 | 99 | 100 |
| Health | 73 | 99 | 100 |
| Housing | 97 | 101 | 100 |
| Transportation | 105 | 103 | 100 |
| Utilities | 100 | 101 | 100 |
Fairmont Cost Of Living Compared To Minnesota Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Minnesota, check out:
Protect your home budget Compare home warranties in Fairmont Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Fairmont, MN Housing Cost Breakdown
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Fairmont is $168,288.
The Median Rent in Fairmont is $738.
The Median Income in Fairmont is $53,084.
The Home Value To Income in Fairmont is 3.2x.
The Rent To Monthly Income in Fairmont is 0.17x.
Fairmont, MN Costs By Category
Detailed Fairmont Services costs vs. Minnesota
Detailed Fairmont Groceries costs vs. Minnesota
Detailed Fairmont Health costs vs. Minnesota
Detailed Fairmont Transportation costs vs. Minnesota
Fairmont SnackAbility
Cost Of Living In Cities Around Fairmont
The cost of living varies in the cities and towns around Fairmont. Here's a quick look at the cost of living in the most populous nearby places:
Mankato, MN has a cost of living index of 99, 1.1x Fairmont.
North Mankato, MN has a cost of living index of 104, 1.1x Fairmont.
New Ulm, MN has a cost of living index of 94, 1.0x Fairmont.
| City | Population | Cost Of Living | Vs. Fairmont |
|---|---|---|---|
| Mankato, MN | 45,473 | 99 | 1.1x |
| North Mankato, MN | 14,211 | 104 | 1.1x |
| New Ulm, MN | 14,056 | 94 | 1.0x |
| Spencer, IA | 11,400 | 89 | 0.9x |
| Estherville, IA | 5,839 | 87 | 0.9x |
| Algona, IA | 5,377 | 95 | 1.0x |
