Eveleth, MN vs Fairmont, MN

Eveleth is moderately more affordable than Fairmont, with a 8.3% lower cost of living index. Eveleth scores 63 compared to 69 for Fairmont, where the US average is 100. This difference means residents of Fairmont can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Eveleth is $839/month compared to $717/month in Fairmont — a 17% difference. Interestingly, home values tell a different story: while Fairmont has cheaper rent, Eveleth actually has lower median home values ($91,800 vs $168,800).

Median household income in Eveleth is $47,721 compared to $59,228 in Fairmont (-19.4%). While Fairmont is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Eveleth spend roughly 21.1% of their income on rent, more than the 14.5% in Fairmont.