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These days, finding an affordable place to live in the Fairmont area can be challenging. Home prices in Fairmont are now at a median cost of $201,822, lower than the Minnesota average of $345,793.
The average cost of rent is $852/mo in Fairmont, primarily driven by the current value of real estate in the Fairmont area. In Fairmont, 37.06% of households rent, and 51.46% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Fairmont is $5,118 per month. Households that rent pay about 16.64% of their income on rent here. Fairmont’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Imogene, MN: higher priced homes
- Wilbert, MN: higher priced homes
- Northrop, MN: less expensive homes
- Granada, MN: less expensive homes
- Welcome, MN: less expensive homes
- Ceylon, MN: less expensive homes
- Guckeen, MN: higher priced homes
- Truman, MN: less expensive homes
- Pilot Grove, MN: higher priced homes
- Huntley, MN: equally priced homes
Cities with Similar Populations
- East Bethel, MN: higher priced homes
- Chipley, FL: less expensive homes
- Clay, AL: higher priced homes
- Concord, MA: higher priced homes
- Conway, FL: higher priced homes
- Delavan, WI: higher priced homes
- Dobbs Ferry, NY: higher priced homes
- Dudley, MA: higher priced homes
- Duson, LA: equally priced homes
- Cheval, FL: higher priced homes
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