Housing costs in Farmington?
A typical home costs
$294,100, which is 13.0% less expensive than the national average of
$338,100 and 61.8% more expensive than the average Arkansas home, at
$181,800. Renting a two-bedroom unit in Farmington costs
$1,010 per month, which is 29.4% cheaper than the national average of
$1,430 and 16.8% more than the state average of
$840.
Can I afford Farmington?
To live comfortably in Farmington, Arkansas, a minimum annual income of
$56,520 for a family, and
$33,200 for a single person is recommended.
What does A.I. say about Farmington?
The cost of living in Farmington, AR is quite low compared to many other cities. The median home price is around $105,000 which is significantly lower than the national average of $200,000. The median household income is also relatively low at about $45,000. Even with these low costs, there are still plenty of amenities available for residents to enjoy including a variety of restaurants, cafes, and shops located within walking distance. Additionally, the local schools are highly rated and the area has seen significant investment from businesses looking to open up shop in the city. All in all, Farmington offers an affordable and comfortable lifestyle for its residents.