Parkers Prairie, MN vs Fairbank, IA: Cost of Living

Which city costs less?

Fairbank, IA has a modeled overall cost index 1.4% lower than Parkers Prairie, MN.

Parkers Prairie, MN · modeled 2BR rent
$970 / month
Fairbank, IA · modeled 2BR rent
$920 / month

These are saved estimates, not current rental listings. Some cities use adjusted regional data. Your household budget can differ from the overall index. Sources and assumptions

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Cost of Living Comparison 2026

Compare Parkers Prairie, MN and Fairbank, IA using saved regional data and explicit budgeting assumptions. Rent estimates are not live listings. Change the salary below, then check the source notes before applying a result to your household.

Saved regional estimates · Sources and assumptions

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Estimated savings: $141/month in Fairbank, IA

$150,000 in your current city has a modeled equivalent of $148,310 in Fairbank, IA

Regional cost estimates: Parkers Prairie, MN uses Minneapolis, MN. Fairbank, IA uses Des Moines, IA. Available city ZIP rent estimates are shown separately.
Overall Cost
↓ 1.4%
Less expensive
Monthly Impact
$141
Savings
Annual Impact
$1.7K
Per year

Assumes 60% of current gross income goes to living costs. The headline uses the category budget below; taxes, moving costs and savings goals are excluded.

Parkers Prairie, MN

Population:1K
Cost Index:
76.5
100 = national average
Typical Home:$257K

Fairbank, IA

Population:1K
Cost Index:
75.4
100 = national average
Typical Home:$262K

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Parkers Prairie, MN

The North Star State

1K
Population
State Tax
Yes

Located in Minnesota, this city has a population of 1K residents.

Fairbank, IA

The Hawkeye State

1K
Population
State Tax
Yes

Located in Iowa, this city has a population of 1K residents.

Cost Breakdown by Category

Estimated monthly spending: Parkers Prairie, MN vs Fairbank, IA

Assumes 60% of your current gross income is spent on these categories. The headline and totals use this same budget. Rent estimates below are separate reference data. Rounded amounts may differ by $1.

Housing
↓ 12.4%
Parkers Prairie, MN
$2,254
Fairbank, IA
$1,975
Difference
$279
less
Other
↑ 7.1%
Parkers Prairie, MN
$1,583
Fairbank, IA
$1,696
Difference
$113
more
Transportation
↑ 6.6%
Parkers Prairie, MN
$1,231
Fairbank, IA
$1,312
Difference
$80.85
more
Groceries
↓ 3.9%
Parkers Prairie, MN
$1,091
Fairbank, IA
$1,049
Difference
$42.72
less
Healthcare
↓ 1.9%
Parkers Prairie, MN
$801
Fairbank, IA
$786
Difference
$15.56
less
All Utilities
↑ 0.6%
Parkers Prairie, MN
$539
Fairbank, IA
$542
Difference
$3.07
more

🏠Rent Comparison

Studio
From$680
To$680
→ $0
1 Bed
From$740
To$710
↓ $30.00
2 Bed
From$970
To$920
↓ $50.00
3 Bed
From$1,350
To$1,230
↓ $120
Parkers Prairie, MNZIP-level data

1BR range: $740–$740/mo

Fairbank, IAZIP-level data

1BR range: $710–$710/mo

💡 Note: HUD Fair Market Rents estimate 40th-percentile gross rents, including most tenant-paid utilities. City ZIP summaries are medians of those estimates, not market median rents. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,500
Monthly in Parkers Prairie, MN
$7,359
Monthly in Fairbank, IA
$141
Difference

Home Values

Parkers Prairie
Fairbank
$257K
Median Value
$262K
↑ +1.2%
YoY Change
↑ +8.3%
↑ +37.2%
5-Year Change
↑ +41.6%

Homes in Fairbank are 2% more expensive than Parkers Prairie

Calculate payment - Parkers PrairieCalculate payment - Fairbank

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings
↓ $272
More taxes
Monthly Difference
$22.70
Less take-home
Effective Rate Diff
0.2%
Rate difference

Parkers Prairie, MN

Federal Income Tax
Effective: 18.9%
$25.5K
Minnesota State Tax
Effective: 7.0%
$10.4K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 31.6%
$47.4K
Take-Home Pay
$8,546/month
$102.6K

Fairbank, IA

Federal Income Tax
Effective: 18.9%
$25.5K
Iowa State Tax
Effective: 7.1%
$10.7K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 31.8%
$47.7K
Take-Home Pay
$8,524/month
$102.3K

Additional Tax Information

Parkers Prairie, MN Tax Rates

Sales Tax:8.0%
Property Tax:1.1%

Fairbank, IA Tax Rates

Sales Tax:7.4%
Property Tax:1.5%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

Parkers Prairie
Fairbank
42 Good
Air Quality
45 Good
66.4%
Good Air Days
67.5%
98 High
Climate Risk
92 Moderate
🌊🌡🌪
Top Hazards
🌡☀🌪
▲+3.6°F
2050 Outlook
▲+3.4°F
14 days
Heat Days >95°F
25 days
▲+3.6°F
2050 Outlook
▲+3.4°F
14 days
Heat Days >95°F
25 days

Before moving from Parkers Prairie, MN to Fairbank, IA

Use this comparison to shortlist a move, then check the costs that depend on your household.

  1. Compare actual homes. Get current quotes in Fairbank, IA for the same bedroom count and included utilities as your home in Parkers Prairie, MN. Add parking, deposits, insurance and any overlapping leases. The rent estimates above are a starting point, not available listings.
  2. Confirm your income. Check your expected pay with your employer, including any location adjustment. Use “Different salary at destination?” above to compare two incomes. The budget model excludes taxes and one-time moving costs; it is not a take-home-pay calculation.
  3. Price your daily routine. Check the commute from a specific address to work, school or childcare. Add household expenses missing from this model, such as childcare, debt payments and medical needs. Verify local services before signing a lease.
  4. Plan the transition. Get moving quotes and budget for travel, setup costs and time off. Open your Parkers Prairie to Fairbank moving checklist to organize the tasks and timing.

Still choosing a destination? Explore cities similar to Fairbank, IA by cost, housing, population and region.

Frequently Asked Questions: Parkers Prairie, MN vs Fairbank, IA

How do the cost estimates for Parkers Prairie, MN and Fairbank, IA compare?

Fairbank, IA has a modeled overall cost index 1.4% lower than Parkers Prairie, MN. This is a broad model comparison, not a survey of today's prices or a forecast of your household spending. Some cities use adjusted regional fallback data.

What does the equivalent salary mean?

At a $150,000 salary in Parkers Prairie, MN, the model estimates $148,310 in Fairbank, IA. It allocates 60% of gross income to the origin city’s category budget and applies each destination category’s relative cost. The equivalent salary adds the total category difference to your income. The monthly difference is the same category difference divided by 12; it is not take-home pay or guaranteed savings. Household size, childcare and your actual lease are not inputs to this calculation.

What rent estimates are available for Parkers Prairie, MN and Fairbank, IA?

The modeled two-bedroom rents are $970/month in Parkers Prairie, MN and $920/month in Fairbank, IA. Where available, the source is a city median of HUD FY2026 ZIP-level estimates; otherwise a saved metro table is used. City adjustments may also apply. These are not asking rents or available listings. Compare actual properties with the same bedroom count and included utilities.

How should I use this comparison before moving?

Use it to shortlist locations, then replace modeled costs with a current housing quote, employer-confirmed income, commute costs, insurance and your household's other expenses. Add one-time moving costs separately. Source years differ and the saved datasets are not a live price feed. Read the methodology for the formulas and fallback rules.

💰 See how taxes change too — compare take-home pay between Minnesota and Iowa on TaxTakeHome.com

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