Housing costs in Farmington?
A typical home costs
$174,100, which is 48.5% less expensive than the national average of
$338,100 and 10.4% less expensive than the average Kentucky home, at
$194,300. Renting a two-bedroom unit in Farmington costs
$750 per month, which is 47.6% cheaper than the national average of
$1,430 and 22.7% cheaper than the state average of
$920.
Can I afford Farmington?
To live comfortably in Farmington, Kentucky, a minimum annual income of
$33,480 for a family, and
$22,800 for a single person is recommended.
What does A.I. say about Farmington?
The cost of living in Farmington, KY is relatively low. The overall cost of living index is around 80, indicating a significantly lower than average cost of living compared to the national average. Housing costs are particularly low, with an estimated median home price of $82,200 and median rent estimated at $672 per month. Utilities and groceries are also generally affordable. Moreover, transportation costs are quite low due to the town's small size and lack of public transportation options. All together, these factors make Farmington, KY an ideal place for individuals or families seeking an affordable place to live.