Fairmont, MN Cost Of Living

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Updated: 2020-03-08
Fairmont's Overall Cost Of Living
Lower Than The National Average
The cost of living index is set to 100 for the average place in America. An index above 100 means Fairmont is expensive, while a number below 100 means it's a relatively cheap place to live.

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 89 which is 0.9x lower than the national index of 100.

Compared to only Minnesota, Fairmont has a cost of living index that's 0.9x lower than Minnesota's index of 104.

The standard of living in Fairmont ranks as #1524 most affordable out of the 6522 places we measured in Minnesota. By definition, that implies Fairmont ranks as the #4883 most expensive place in the North Star State.

For more reading on life in Fairmont, check out:

Fairmont Cost Of Living Vs. Minnesota

Living Expense Fairmont Minnesota National Average
Overall 89 104 100
Services 98 109 100
Groceries 103 106 100
Health 118 110 100
Housing 63 100 100
Transportation 99 100 100
Utilities 97 98 100
For more reading on cost of living around Minnesota, check out:
Fairmont Cost of Living Vs. MN

Fairmont, MN Housing Cost Breakdown

Housing swings affordability the most between places in Minnesota, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

Median Home Value
Median Rent
Median Income
Statistic Fairmont Minnesota United States
Median Home Value $121,600 $211,800 $204,900
Median Rent $646 $944 $1,023
Median Income $48,826 $68,411 $60,293
Home Value To Income 2.5x 3.1x 3.4x
Rent To Monthly Income 0.16x 0.17x 0.2x

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Cost Of Living In Cities Around Fairmont

City Population Cost Of Living Vs. Fairmont
Mankato, MN 41,701 96 1.1x
North Mankato, MN 13,704 97 1.1x
New Ulm, MN 13,248 91 1.0x
Spencer, IA 11,092 86 1.0x
Estherville, IA 5,859 85 1.0x
Algona, IA 5,455 89 1.0x

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