Fairmont, MN vs Owatonna, MN

There is a significant gap in the cost of living between these two cities. Fairmont is 17.1% cheaper than Owatonna. With a cost index of 69 vs 83, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Fairmont to Owatonna should plan for substantially higher expenses across most categories.

On the housing front, median rent in Fairmont is $717/month compared to $1,010/month in Owatonna — a 29% difference. Home values follow the same pattern: Fairmont is more affordable at $168,800 median vs $234,600.

Median household income in Fairmont is $59,228 compared to $81,276 in Owatonna (-27.1%). While Owatonna is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Fairmont spend roughly 14.5% of their income on rent, less than the 14.9% in Owatonna.