Fairmont, MN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2021-02-06
89
Fairmont's Overall Cost Of Living
0.9x
Lower Than The National Average
9 out of 147
In Minnesota
1,523 out of 6,399
In America
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 #1,524 most affordable out of the 6,522 places we measured in Minnesota. By definition, that implies Fairmont ranks as the #4,883 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.

$123,700
Median Home Value
$621
Median Rent
$47,876
Median Income
Statistic Fairmont Minnesota United States
Median Home Value $123,700 $223,900 $217,500
Median Rent $621 $977 $1,062
Median Income $47,876 $71,306 $62,843
Home Value To Income 2.6x 3.1x 3.5x
Rent To Monthly Income 0.16x 0.16x 0.2x

Detailed Fairmont Services Costs Vs. Minnesota

Item Fairmont Minnesota
Shampoo $0.99 $1.01
Movie $9.75 $10.72
Bowling $10.0 $13.86

Detailed Fairmont Groceries Costs Vs. Minnesota

Item Fairmont Minnesota
Ground Beef $3.43 $3.9
Fried Chicken $2.73 $1.4
Milk $1.73 $1.96

Detailed Fairmont Health Costs Vs. Minnesota

Item Fairmont Minnesota
Haircut $22.5 $17.49
Beauty Salon $27.6 $38.17
Toothpaste $2.23 $2.32

Detailed Fairmont Transportation Costs Vs. Minnesota

Item Fairmont Minnesota
Potatoes $3.24 $3.18
Pizza $11.99 $10.39
Beer $8.99 $9.23
Optometrist $111.3 $106.34
Doctor $204.33 $115.25
Dentist $101.0 $98.38

Detailed Fairmont Utilities Costs Vs. Minnesota

Item Fairmont Minnesota
Gasoline $2.64 $2.59
Tire Balancing $47.33 $48.9
All Electricity $161.1 $167.6
Phone $179.21 $163.42

Fairmont SnackAbility

6
/10
Overall SnackAbility
Jobs
6/10
Housing
5
Affordability
8.5
Diversity
6
Safety
6
Amenities
7
Education
8
Commute
10

Cost Of Living In Cities Around Fairmont

City Population Cost Of Living Vs. Fairmont
Mankato, MN 42,093 96 1.1x
North Mankato, MN 13,778 97 1.1x
New Ulm, MN 13,242 91 1.0x
Spencer, IA 11,052 86 1.0x
Estherville, IA 5,796 85 1.0x
Algona, IA 5,447 89 1.0x

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