Fairmont, MN vs Two Harbors, MN

Fairmont, MN and Two Harbors, MN have a very similar cost of living, with only a 4.6% difference in their overall index. Fairmont scores 69 while Two Harbors scores 73 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Fairmont is $717/month compared to $879/month in Two Harbors — a 18% difference. Home values follow the same pattern: Fairmont is more affordable at $168,800 median vs $187,100.

Median household income in Fairmont is $59,228 compared to $62,885 in Two Harbors (-5.8%). While Two Harbors 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 16.8% in Two Harbors.