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Fairmount

Learn about the people, housing, costs and businesses in Fairmount, North Dakota

Median Home$168,600
Median Rent$600/month
Population310
Leading IndustriesArts, Food & Hospitality · Healthcare · Transportation12% arts, food & hospitality
Home Value Growth+3.5% over 2 years
Retirees24% of residentsslightly above average
Homeowners95% of occupied units
NotableHighly Educated28% bachelor's · 12% graduate · top 12% nationally
NotableAffordable Market$169k median home · lower cost than 66% of the country
Fairmount
ND

Frequently Asked Questions

What are today's mortgage rates in Fairmount?

As of today, the 30-year fixed mortgage rate for Fairmount is approximately 6.853% (6.888% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Fairmount?

The median home value in Fairmount is $169k. The median monthly rent is $600. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Fairmount?

Home values in Fairmount have increased 3.5% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Fairmount?

Based on a typical all-in ownership cost of $797/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $34k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Fairmount is $82k/year.

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What industries drive the economy in Fairmount?

The largest employment sectors in Fairmount are public administration (23%) and healthcare (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.