Living in Fairmont, Minnesota
Cost of living, income, home prices, rent and demographics of Fairmont · Census data 2020–2024
Fairmont has 10,296 residents with a median age of 46.6. The median household income is $53,084 (40% lower than the Minnesota median), the median home value is $169,900, the median rent is $738/month.
Fairmont at a glance
- Population
- 10,296
- Median age
- 46.6State: 38.8
- Median household income
- $53,084State: $89,062
- Median home value
- $169,900State: $329,300
- Median rent
- $738/moState: $1,280
- Homeowners
- 60.9%
- Bachelor's degree or higher
- 25.7%
- Average commute
- 13 min
Is Fairmont a good place to live?
Pros: Home values 48% lower than the state median; an average commute of 13 minutes; unemployment of 3.1%.
Cons: Median household income 40% lower than the Minnesota median; a poverty rate of 15.3%.
The weather is best in June to September.
Cost of living in Fairmont
Housing is the biggest part of the cost of living. In Fairmont the median home value is $169,900, 49% lower than the U.S. median. Renters pay a median of $738 per month, which is 31.2% of household income. Homeowners with a mortgage pay $1,254 a month in housing costs.
Fairmont median household income
The median household income in Fairmont is $53,084 and the income per person is $37,825. 15.3% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Fairmont: homes for sale and rent
- Housing units
- 5,285
- Owner-occupied
- 60.9%
- Renter-occupied
- 39.1%
- Vacant
- 7.6%Includes seasonal homes
- Median year built
- 1966
- Average household size
- 2.06
Fairmont demographics
- Population
- 10,296
- Median age
- 46.6
- Under 18
- 21.2%
- 65 and older
- 26.1%
- Households
- 4,884
- Foreign-born
- 2.4%
- Veterans
- 9.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Fairmont ›
Education in Fairmont
25.7% of adults 25 and older in Fairmont have a bachelor's degree or higher (Minnesota: 39.4%), and 9% have a graduate or professional degree.
Jobs and commute in Fairmont
- Unemployment rate
- 3.1%State: 4.1%
- Average commute
- 13 minState: 23 min
- Work from home
- 6.7%
- Drive alone
- 79.6%
- Public transit
- 0%
- Walk to work
- 4.9%
- Homes with broadband
- 85.1%
Fairmont vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Fairmont | 10,296 | $53,084 | $169,900 | $738 |
| Northrop | 240 | $67,083 | $136,300 | $700 |
| Granada | 243 | $70,000 | $93,800 | $579 |
| Welcome | 978 | $49,167 | $101,600 | $882 |
| Ceylon | 259 | $40,208 | $43,500 | — |
| Truman | 1,212 | $61,188 | $106,400 | $1,052 |
| Sherburn | 1,015 | $59,777 | $106,900 | $739 |
| Dolliver | 161 | $90,000 | $59,000 | — |
| Trimont | 546 | $49,196 | $98,800 | $622 |
More for people moving to Fairmont
Fairmont ZIP code ›Weather and climate ›Living in Fairmont: FAQ
What is the median household income in Fairmont, MN?
The median household income in Fairmont is $53,084, 40% lower than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Fairmont?
The median home value in Fairmont is $169,900, compared with $329,300 in Minnesota.
How much is rent in Fairmont?
The median gross rent in Fairmont is $738 per month, about 31.2% of household income.
Is Fairmont, MN a good place to live?
Pluses: home values 48% lower than the state median; an average commute of 13 minutes; unemployment of 3.1%. Minuses: median household income 40% lower than the Minnesota median; a poverty rate of 15.3%.
What is the median age in Fairmont?
The median age in Fairmont is 46.6 years (Minnesota: 38.8).
How long is the commute in Fairmont?
The average commute to work in Fairmont is 13 minutes; 6.7% of workers work from home.
What is the unemployment rate in Fairmont?
The unemployment rate in Fairmont is 3.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Fairmont?
25.7% of adults in Fairmont have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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