Fairmont, MN has a median housing value of $144,800, which is significantly lower than the US median. Despite the lower median housing value, Fairmont’s houses have seen a higher appreciation rate in the last year than houses across the nation, with an 11.33% increase instead of 8.27%. This indicates that Fairmont is an attractive area for people looking for real estate investments, as they can get homes at a lower cost but still benefit from relatively high returns.
The median home cost in Fairmont is $144,800. Home appreciation the last 10 years has been 70.2%. Home Appreciation in Fairmont is up 11.6%.
Average Age of Homes
- The median age of Fairmont real estate is 59 years old
The Rental Market in Fairmont
- Renters make up 25.9% of the Fairmont population
- 3.5% of houses and apartments in Fairmont, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.