Fairmont, MN vs Perham, MN

Fairmont is moderately more affordable than Perham, with a 5.9% lower cost of living index. Fairmont scores 69 compared to 74 for Perham, where the US average is 100. This difference means residents of Perham can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Fairmont is $717/month compared to $813/month in Perham — a 12% difference. Home values follow the same pattern: Fairmont is more affordable at $168,800 median vs $186,000.

Median household income in Fairmont is $59,228 compared to $47,088 in Perham (+25.8%). Fairmont offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Fairmont spend roughly 14.5% of their income on rent, less than the 20.7% in Perham.