Housing costs in Farmington?
A typical home costs
$92,700, which is 72.6% less expensive than the national average of
$338,100 and 52.4% less expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Farmington costs
$700 per month, which is 51.0% cheaper than the national average of
$1,430 and 32.9% cheaper than the state average of
$930.
Can I afford Farmington?
To live comfortably in Farmington, Iowa, a minimum annual income of
$17,640 for a family, and
$24,800 for a single person is recommended.
What does A.I. say about Farmington?
Living in Farmington, IA is quite affordable. The cost of living index is much lower than the US average, with a score of 78.4 compared to the national average of 100. This means that the basic expenses such as housing, groceries, utilities, transportation, and healthcare are all much more affordable when compared to other parts of the country. Additionally, there are no state income taxes in Iowa which adds additional savings for those living in Farmington. Overall, living in Farmington is very affordable and provides a great quality of life to its residents.