Cost Of Living
The cost of living in this region is notably lower than the national average, encompassing everyday goods, housing, utilities, transportation and health care expenses.
Housing
High scores in the housing category are attributed to this area, possibly pointing to a favorable home affordability ratio, robust appreciation rates or elevated home values.
Amenities
A large portion of amenities are not ideally situated within walking distance, potentially requiring residents to utilize a vehicle or public transportation.
Commute
Access to public transportation in this particular area may be limited, which can result in longer-than-average commute times to reach workplaces.
Fairmont, Minnesota is a medium-sized city with a population of 10,438 residents. According to the most recent Census, 96% of Fairmont residents are White, 1% Asian and 0% Black. If you are not a fan of long commutes, you will enjoy living in Fairmont. With an average one way commute time of only 14 minutes, getting to and from work is a breeze compared to the national average of 26 minutes.
Living in Fairmont can be a fulfilling experience for anyone moving to the town. Having said that, in the state of Minnesota, there are many incredible places to live, so choose wisely! When searching for a new neighborhood, several factors play a vital role in determining its suitability. Safety should be a top priority, ensuring a secure environment with low crime rates. Proximity to your workplace or school helps minimize commuting time and allows for a better work-life balance. Availability of essential amenities such as parks, coffee shops, restaurants, grocery stores, and healthcare facilities contributes to convenience and well-being. Access to reliable public transportation options facilitates easy commuting and connectivity. Additionally, considering the sense of community and the overall atmosphere that resonates with your lifestyle and preferences fosters a harmonious living experience. With useful information like amenities, health & safety, employment and other key data points, finding the best places to live in Fairmont and in the areas around Fairmont is a much easier task.
Fairmont, MN receives 68/100 for its livability score; this results in a ranking of #350 in Minnesota and #8,505 in the USA. If we dig down a little deeper into each category within the livability score, we see that Fairmont has higher than average rankings for the following: crime (B+), cost of living (A+) and housing (A+). The bad news for Fairmont, there are some categories for which it does not rank well, this includes: amenities (F).
A healthy real estate market serves as a key economic indicator. It could signify overall local economic strength, stability and reflects consumer confidence in the area. Based on multiple factors including: median home and rental prices, appreciation rates and home affordability, Fairmont has received high marks in the housing category. Based on these calculations, the apartment rental and real estate market appears to be very healthy.
Being close to public transit, grocery stores, parks and other conveniences are all important when weighing your options for a new home in Fairmont. Before you determine if any of these amenities are available in the area, you will also want to know if the real estate prices in Fairmont are affordable. Median real estate prices in Fairmont come in at $241,017, which is 28.9% lower than the Minnesota average. The home price to income ratio compares the median home prices to the median household income. In Fairmont, the home price to income ratio is 3.3, which is 10.8% lower than the Minnesota average.
| Statistic | Fairmont | Minnesota | National |
| Average one way commute | 14min | 23min | 26min |
| Workers who drive to work | 81.9% | 78.0% | 76.4% |
| Workers who carpool | 6.9% | 8.7% | 9.3% |
| Workers who take public transit | 0.6% | 3.5% | 5.1% |
| Workers who bicycle | 0.7% | 0.8% | 0.6% |
| Workers who walk | 2.1% | 2.8% | 2.8% |
| Working from home | 6.8% | 5.3% | 4.6% |
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