Housing costs in Fairmont?
A typical home costs
$156,000, which is 53.9% less expensive than the national average of
$338,100 and 49.6% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Fairmont costs
$870 per month, which is 39.2% cheaper than the national average of
$1,430 and 42.5% cheaper than the state average of
$1,240.
Can I afford Fairmont?
To live comfortably in Fairmont (zip 56031), Minnesota, a minimum annual income of
$29,880 for a family, and
$26,400 for a single person is recommended.
What does A.I. say about Fairmont?
The cost of living in 56031 Fairmont, MN is lower than that of the national average, making it an attractive place to live. In terms of housing costs, the median home price in Fairmont is approximately $165,000, which is just over half the national median home price. Property taxes are low as well at 1.6 percent and rental prices are even more reasonable at a median monthly rate of $734. When it comes to other expenses such as groceries, utilities, and health care costs, they too remain below the national average which helps keep consumer prices in check. All things considered the cost of living in Fairmont is very affordable for anyone looking for an affordable and pleasant place to settle down.