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Just some of my thoughts/comments on living around here, I'm originally from the Detroit Lakes area (45min away) and have been in the FM area since 2002.
The City
The size of the FM area is about perfect for many people, there are plenty of places to eat, shop and get a job. People complain there are only chains... those people haven't been downtown and stick to the new strip mall areas of town. Downtown has many great places to eat and with NDSU expanding downtown, many more are sure to pop up.
The Weather
We're in the UPPER midwest. Summer is going to be short. Winter is going to be cold. In my opinion, you can't take advantage of everything around here due to the weather and spend most of your life indoors.
Winter
Cold. Cold. Cold. There are WEEKS below zero, the temp often reaches around -30F (actual temp) - that's about 100 degrees colder than the temp inside your home. If your car stalls or you're in an accident, you need to be prepared like you're on a trip to Everest or you'll be in serious trouble before any help arrives. Blizzards arrive October - late into March with a big impact and shut the town down for days.
Spring
When winter finally ends, it floods...to some degree every year. If you live outside the flood plain, it still affects you... bridges close, stores close, the town shuts down. Bike trails are the first to flood along the river and seem to take months to clean off... so relying on them to bike to work is about impossible.
Summer/Fall
This is when the FM area shines... street fairs, events, sports, concerts, farmer's market, etc... but it's short lived. Is it worth spending 1/2 your life indoors? I don't think so but there are worse places in the world I suppose.
It's just my two cents. I'll be moving when the time is right but for now, there are plenty of jobs and it's an expanding area.