Fairmont, NE
Population 584 · Nebraska
About Fairmont, NE
Fairmont is a small community located in Nebraska with a population of 584 residents according to the latest US Census Bureau American Community Survey data. The median household income is $67,404 per year, which is 10% below the national median of $75,149. The median age of 61.5 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Fairmont features a median home value of $65,000, which is 73% below the national median of $244,900. This makes Fairmont one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $627, 46% below the national average of $1,163/month. Of the 297 total housing units, 80% are owner-occupied (222 units) and 20% are renter-occupied (55 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Fairmont shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 12.8%, above the national average of 12.4%. Workers in Fairmont have an average one-way commute time of 20.5 minutes.
Education & Demographics
9.2% of Fairmont residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.9% White, 0.3% Hispanic or Latino, 0.0% Black or African American, and 0.5% Asian residents, with 0.9% of the population being foreign-born.
Cost of Living in Fairmont, NE
Compared to national averages, Fairmont has a median household income of $67,404 (10% below the national median of $75,149). Home values average $65,000, which is 73% below the national median. Monthly rent at $627 is 46% below the US average of $1,163. Within Nebraska, Fairmont's income is 2% above the state average of $65,895, and home values are 48% below the state median of $125,824.
Why Live in Fairmont, NE?
Fairmont offers affordable housing with a median home value of $65,000, below the US average of $244,900, and rent that’s lower than the national average at $627/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features short commute times averaging just 20.5 minutes.
Potential considerations include median household income ($67,404) that falls below the national average. However, Fairmont’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Fairmont has a population of 584 with a median age of 61.5 years. Compare Fairmont with other cities to see how it stacks up, or explore all cities in Nebraska.
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Other Cities in Nebraska
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Fairmont
What is the population of Fairmont, NE?
The population of Fairmont, NE is 584 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Nebraska.
What is the median household income in Fairmont?
The median household income in Fairmont, NE is $67,404 per year, which is 10% below the national median of $75,149.
What is the median home value in Fairmont?
The median home value in Fairmont, NE is $65,000, which is 73% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Fairmont?
The median monthly rent in Fairmont, NE is $627, which is 46% below the national average of $1,163/month.
What is the unemployment rate in Fairmont?
The unemployment rate in Fairmont, NE is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Fairmont, NE a good place to live?
Fairmont offers a moderate cost of living, affordable housing, and a strong job market. With a population of 584 and a median age of 61.5, the city appeals to established professionals and retirees.
How educated is Fairmont, NE?
9.2% of residents in Fairmont aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Fairmont?
Key cost-of-living indicators for Fairmont, NE: median home value is $65,000 (73% below national), median rent is $627/month, and median household income is $67,404. The home-value-to-income ratio is 1.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Fairmont?
The poverty rate in Fairmont, NE is 12.8%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Fairmont, NE?
Fairmont's population is 0.9% White, 0.3% Hispanic or Latino, 0.0% Black or African American, 0.5% Asian, and 0.0% two or more races. 0.9% of residents are foreign-born.