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These days, finding an affordable place to live in the Fairfax area can be challenging. Home prices in Fairfax are now at a median cost of $148,101, lower than the Minnesota average of $345,793.
The average cost of rent is $647/mo in Fairfax, primarily driven by the current value of real estate in the Fairfax area. In Fairfax, 17.82% of households rent, and 57.37% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Fairfax is $5,399 per month. Households that rent pay about 11.99% of their income on rent here. Fairfax’s most expensive areas are in the northern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Franklin, MN: equally priced homes
- Gibbon, MN: equally priced homes
- Evan, MN: higher priced homes
- St. George, MN: higher priced homes
- Morgan, MN: equally priced homes
- Morton, MN: equally priced homes
- Hector, MN: equally priced homes
- Essig, MN: higher priced homes
- Buffalo Lake, MN: higher priced homes
- Sleepy Eye, MN: equally priced homes
Cities with Similar Populations
- Toulon, IL: less expensive homes
- Elkader, IA: higher priced homes
- Elkhorn, CA: higher priced homes
- Ewing, KY: less expensive homes
- Fenwick, MI: higher priced homes
- Wardsville, MO: higher priced homes
- Wagon Wheel, AZ: higher priced homes
- Vinita Park, MO: less expensive homes
- Village of the Branch, NY: higher priced homes
- Union Springs, NY: higher priced homes
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