Fairmont, MN is an excellent destination for those looking to buy a home. The median value of a house in Fairmont is $156,000, which is significantly lower than the US median of $338,100. This difference can provide added financial flexibility to buyers. Furthermore, housing in Fairmont has experienced an 11.33% appreciation over the last year compared to 8.27% nationwide. This means that not only does the initial cost of buying a house here come at a lower price point than most other places in the US, but it also makes housing an especially attractive investment as well.
The median home cost in Fairmont (zip 56031) is $156,000. Home appreciation the last 10 years has been 70.2%. Home Appreciation in Fairmont (zip 56031) is up 11.6%.
Average Age of Homes
- The median age of Fairmont (zip 56031) real estate is 58 years old
The Rental Market in Fairmont (zip 56031)
- Renters make up 24.1% of the Fairmont (zip 56031) population
- 3.1% of houses and apartments in Fairmont (zip 56031), 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.