Fairmont, MN

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

Performance indicators for the Fairmont short-term rental market based on reliable data.

Listings

21 / 50

Reliable / Active

Cap Rate

10%

Middle-Earners Gross Yield

Revenue

$18,271

Middle-Earners Revenue

Occupancy

57%

Middle-Earners Occupancy

Home Value

$176,363

Median Home Sale Price

Top Earners

$32,853

Top-Earners Revenue

Fairmont

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Fairmont.

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B

Generally Investor friendly

Fairmont Regulations

Fairmont permits STRs citywide under standard rental licensing without caps, requiring a $5 registration fee and one-time $40 inspection per unit (1-4 units) plus 3% lodging tax. The process is clear and supports investors with detailed guidance, though inspections every three years and safety standards add moderate compliance costs.

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About Fairmont

Fairmont sits in south-central Minnesota as the county seat of Martin County, home to roughly 10,000 residents. The city is often nicknamed the "City of Lakes" for the chain of five lakes — including Lake George and Sisseton Lake — that ring its neighborhoods, and it functions as a small but lively hub for the surrounding agricultural region. Located about 130 miles south of the Minneapolis–Saint Paul metro area (roughly a two-and-a-half-hour drive), Fairmont is also a convenient gateway to the popular Iowa Great Lakes vacation region just across the state line.

The Fairmont chain of lakes is the city's centerpiece. Lake George, Sisseton Lake, Budd Lake, Hall Lake, and Amber Lake offer swimming beaches, fishing, and boating just minutes from the downtown core, with public parks and walking paths along their shores. Anglers come for walleye, northern pike, and crappie in the warmer months, and the frozen lakes draw ice fishing enthusiasts once winter sets in, giving the area year-round recreational appeal.

A short drive southwest, the Iowa Great Lakes region is one of the Upper Midwest's most established summer destinations, centered on West Okoboji Lake, East Okoboji Lake, and Spirit Lake. Resorts, the historic Arnold's Park amusement area, and a lively lakeside dining scene draw visitors from across the region, and the drive from Fairmont is roughly 45 minutes to an hour. The area offers a natural draw for travelers who might pair a stay in Fairmont with a day or two on the Iowa side of the border.

Downtown Fairmont is anchored by the historic Fairmont Opera House, a restored early-twentieth-century theater that hosts concerts, community productions, and touring shows. The surrounding downtown has a classic small-town main-street feel, with locally owned shops, cafes, and restaurants that reflect the agricultural heritage of southern Minnesota. The Martin County Heritage Center, located along the lakes, adds another layer of local history for visitors interested in the region's past.

For travelers exploring the area, Fairmont works well as a short-term-rental base. It offers the relaxed pace of a Midwestern county seat, immediate access to five lakes for outdoor recreation, and reasonable proximity to both the larger tourism draw of the Iowa Great Lakes and the cultural amenities of the Twin Cities. Guests who want small-town character, water-based activities, and a few easy day trips will find a comfortable mix of natural beauty, local culture, and straightforward road connections.

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