Housing costs in Farmington?
A typical home costs
$289,500, which is 14.4% less expensive than the national average of
$338,100 and 32.4% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Farmington costs
$1,390 per month, which is 2.8% cheaper than the national average of
$1,430 and 20.9% more than the state average of
$1,100.
Can I afford Farmington?
To live comfortably in Farmington, Michigan, a minimum annual income of
$55,440 for a family, and
$43,600 for a single person is recommended.
What does A.I. say about Farmington?
The cost of living in Farmington, MI is quite affordable compared to other areas of the country. The median home price in this area is just under $200,000 while utilities such as electricity, water and sewer are about 7% cheaper than the national average. Additionally, groceries and healthcare costs are also lower than the national average here. All in all, Farmington is an affordable place to live with plenty of options for entertainment and dining if you know where to look.