Housing costs in Fairhaven?
A typical home costs
$187,300, which is 44.6% less expensive than the national average of
$338,100 and 39.5% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Fairhaven costs
$1,180 per month, which is 17.5% cheaper than the national average of
$1,430 and 5.1% cheaper than the state average of
$1,240.
Can I afford Fairhaven?
To live comfortably in Fairhaven, Minnesota, a minimum annual income of
$36,000 for a family, and
$38,800 for a single person is recommended.
What does A.I. say about Fairhaven?
The cost of living in Fairhaven, MN is generally lower than the US average. The median home value is significantly lower than the national median at $159,700 compared to $219,700. Additionally, the median household income in Fairhaven is slightly below the national average at $42,532 for households compared to $53,482. The overall cost of living index is 89.7 which is marginally cheaper than the US average of 100. Transportation costs are modest, with monthly transportation costs averaging just over $500 a month. Groceries and health care are also relatively inexpensive when compared to other areas across the nation.