Cost of Living in Fairmont, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
86.8
100 = national avg
-13.2 vs national average
Living Wage (1 Adult)
$38,200
per year
Living Wage (Family of 4)
$90,292
per year
Cost Index by Category
Housing82.3
Food95.3
Transportation74.3
Healthcare96.2
Utilities93.6
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$803
per month
2 Bedroom
$973
per month
The overall cost of living index in Fairmont is 86.8, which is 13.2% below the national average. Housing costs are below the national average at an index of 82.3. A single adult needs to earn approximately $38,200 per year to cover basic expenses.