Fairfax, MN vs Wood Lake, MN

Fairfax is moderately more affordable than Wood Lake, with a 14.9% lower cost of living index. Fairfax scores 51 compared to 60 for Wood Lake, where the US average is 100. This difference means residents of Wood Lake can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Fairfax is $410/month compared to $650/month in Wood Lake — a 37% difference. Interestingly, home values tell a different story: while Fairfax has cheaper rent, Wood Lake actually has lower median home values ($85,000 vs $99,800).

Median household income in Fairfax is $53,750 compared to $68,958 in Wood Lake (-22.1%). While Wood Lake is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Fairfax spend roughly 9.2% of their income on rent, less than the 11.3% in Wood Lake.