Fairmont, MN vs Norwood Young America, MN

There is a significant gap in the cost of living between these two cities. Fairmont is 24.4% cheaper than Norwood Young America. With a cost index of 69 vs 92, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Fairmont to Norwood Young America should plan for substantially higher expenses across most categories.

On the housing front, median rent in Fairmont is $717/month compared to $1,032/month in Norwood Young America — a 31% difference. Home values follow the same pattern: Fairmont is more affordable at $168,800 median vs $289,400.

Median household income in Fairmont is $59,228 compared to $67,857 in Norwood Young America (-12.7%). The higher salaries in Norwood Young America partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Fairmont spend roughly 14.5% of their income on rent, less than the 18.3% in Norwood Young America.