Cost of Living in Farmington, NM
2024 data from the Bureau of Economic Analysis
Cost Index
87.7
12.3% below avg
Housing Index
56.6
Median Income
$50,734
Median Rent
$894/mo
Cost Breakdown
Overall87.7 (-12.3%)
Housing56.6 (-43.4%)
Goods96.1 (-3.9%)
Utilities77.9 (-22.1%)
Other Services98.5 (-1.5%)
National average = 100
Income & Housing
Median Household Income
$50,734/year
Median Home Value
$170,700
Median Monthly Rent
$894/mo
Per Capita Income
$25,008/year
Compare Farmington, NM With
Farmington, NM vs Brunswick, GAFarmington, NM vs Tuscaloosa, ALFarmington, NM vs Watertown, NYFarmington, NM vs Albany, GAFarmington, NM vs Hattiesburg, MSFarmington, NM vs St. Cloud, MNFarmington, NM vs Terre Haute, INFarmington, NM vs Johnson City, TNFarmington, NM vs Auburn, ALFarmington, NM vs Jefferson City, MO
Frequently Asked Questions
Is Farmington, NM expensive to live in?
Farmington, NM has a cost of living index of 87.7, which is 12.3% below the national average.
How much does housing cost in Farmington, NM?
Housing costs in Farmington, NM are indexed at 56.6 compared to the national average of 100. The median monthly rent is $894.
What is the average income in Farmington, NM?
The median household income in Farmington, NM is $50,734 per year.
What is the average home price in Farmington, NM?
The median home value in Farmington, NM is $170,700.