Housing costs in Farmington?
A typical home costs
$342,300, which is 1.2% more expensive than the national average of
$338,100 and 10.6% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Farmington costs
$1,520 per month, which is 6.3% more than the national average of
$1,430 and 18.4% more than the state average of
$1,240.
Can I afford Farmington?
To live comfortably in Farmington, Minnesota, a minimum annual income of
$65,520 for a family, and
$49,600 for a single person is recommended.
What does A.I. say about Farmington?
Living in Farmington, MN can be quite affordable. The cost of living index is relatively low compared to the national average, and housing prices are also quite reasonable. Renting a one-bedroom apartment in Farmington averages around $800 per month, while the median home value is about $195,000. Food and other miscellaneous expenses tend to be on par with the national average. Overall, Farmington can be a great place to live without breaking the bank!