Austin, MN vs Fairmont, MN

Austin, MN and Fairmont, MN have a very similar cost of living, with only a 4.7% difference in their overall index. Austin scores 72 while Fairmont scores 69 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Austin is $860/month compared to $717/month in Fairmont — a 20% difference. Interestingly, home values tell a different story: while Fairmont has cheaper rent, Austin actually has lower median home values ($155,100 vs $168,800).

Median household income in Austin is $66,488 compared to $59,228 in Fairmont (+12.3%). While Austin is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Austin spend roughly 15.5% of their income on rent, more than the 14.5% in Fairmont.