4

Fairmont, MN Homes for Rent

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  • /15

    $950 Plus Fees

    • 2 Beds
    • 1 Bath
    • 1,100 Sq Ft
    • House for Rent

    401 N Dewey St, Fairmont, MN 56031

    Listed by Renters Warehouse Mankato. Available immediately very nice 2 bedroom 1 bath apt in Fairmont. $950 + all utilities. Credit/background check required. 1 pet okay with $500 pet deposit paid. No smoking in unit. This unit is Section 8 approved. Some amenities include a basement with lots of storage & washer/dryer. Please contact Dawn with any questions, or to schedule a viewing at .

    401 N Dewey St, Fairmont, MN 56031
  • /10

    $1,200

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 1,400 Sq Ft
    • House for Rent

    77 Downtown Plaza, Fairmont, MN 56031

    Fully Furnished Apartment for Rent- Downtown Fairmont. Move-in ready and perfectly located! This beautifully remodeled apartment features: One large bedroom. Open-concept kitchen and living area. In-unit washer and dryer. Off-street parking and a private one-stall garage. Updated within the last 5 years. Located in the heart of downtown Fairmont- walk to shops, restaurants, and more! Perfect for

    77 Downtown Plaza, Fairmont, MN 56031
  • /14

    $1,000 Per Month

    • 3 Beds
    • 1 Bath
    • 850 Sq Ft
    • Apartment for Rent

    900 Hengen St Unit 202, Fairmont, MN 56031

    Pheasant Run Apartments has 3-bedroom apartments available. Rent is based on 30% gross monthly household income. Rent for a 3-bedroom apartment ranges from $790-1000 plus a Security Deposit of $790. Rental Assistance may be available for qualified applicants. HEAT, water, sewer, and garbage are included in the rent. Amenities include off-street parking, on-site laundry facilities, and lawn

    Sara Wolhers Van Binsbergen & Associates LLC

    900 Hengen St Unit 202, Fairmont, MN 56031
  • /12

    $1,000 Per Month

    • 3 Beds
    • 1 Bath
    • 850 Sq Ft
    • Apartment for Rent

    910 Hengen St Unit 402, Fairmont, MN 56031

    Pheasant Run Apartments has 3-bedroom apartments available. Rent is based on 30% gross monthly household income. Rent for a 3-bedroom apartment ranges from $790-1000 plus a Security Deposit of $790. Rental Assistance may be available for qualified applicants. HEAT, water, sewer, and garbage are included in the rent. Amenities include off-street parking, on-site laundry facilities, and lawn

    Sara Wolhers Van Binsbergen & Associates LLC

    910 Hengen St Unit 402, Fairmont, MN 56031

Why Live in Fairmont

Fairmont, located in rural southern Minnesota, is known for its lakeside lifestyle and strong agricultural economy. The city features a connected lake system that offers ample opportunities for swimming, boating, and water skiing, making waterfront recreation a central part of life. Fairmont's economy is bolstered by agricultural production and manufacturers like Fairmont Foods and 3M. Downtown revitalization efforts are underway, enhancing the city's amenities and quality of life. Housing options include various styles from the early 20th century to the early 2000s, with ranch-style and Minimal Traditional properties being common. The White Ridge Trail development is introducing new twin homes to the southern end of the city. Fairmont maintains 400 acres of parkland with playgrounds, sports fields, and disc golf courses, providing numerous things to do for residents. Dining often revolves around the lakes, with local favorites like Channel Inn offering burgers and beer on an outdoor patio overlooking Hall Lake. Downtown Fairmont features consignment shops, jewelry stores, diverse hometown restaurants, and the Fairmont Opera House. The Fairmont Area School District is highly rated, with a focus on STEM learning. Annual events include the Martin County Fair, Interlaken Heritage Days, a fishing tournament, a triathlon, and Fourth of July fireworks. Prairie Lakes Transit operates fixed bus routes, while Interstate 90 and Route 15 provide regional connectivity. The Mayo Clinic Fairmont Hospital offers comprehensive medical services. Crime rates in Fairmont are trending down, with a significant decrease in overall crime and narcotic-related offenses since 2018.

Frequently Asked Questions

How much does it cost to rent a home in Fairmont, MN?
The median rent for a home in Fairmont, MN is $1,000 per month, though prices vary by neighborhood, size, and property type. As of August 2026, single-family homes tend to be the most affordable option while condos are currently more expensive.
How much do you need to make to afford rent in Fairmont, MN?
To comfortably afford the median rent in Fairmont, MN, a household needs to earn roughly $40,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,000 per month in Fairmont, MN, renters typically need to show $3,000 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Fairmont, MN?
In Fairmont, MN, the price-to-rent ratio is 15.3, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
4
Median Rent
$1,000
Median Single Family Home Rent
$855
Median Condo Rent
$1,000
How to Rent a Home