I've been there and it is similar to scores of drying-up NC towns, most industry gone (previously related to farming, specifically tobacco farming). Most small businesses gone, run out by WalMart etc. Not to be judgmental, but very "backwards" way of life.
Are you8 buying your house in person, or just going by what's on the Internet?
Never, NEVER buy a house you haven't seen in person including the town. Real Estate sites are of course going to make everything look like Utopia. Frankly I have a hard time believing you've seen Fairmont if you are asking this, so I have one piece of advice:
SEE IT IN PERSON.
Fairmont page on City-Data. Note the second map where you can set it to many demographic features. It's defaulted to income, median around $20K.
Wikipedia page for Fairmont. And do other such searching.