Housing costs in Farmington?
A typical home costs
$202,100, which is 40.2% less expensive than the national average of
$338,100 and 24.3% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Farmington costs
$910 per month, which is 36.4% cheaper than the national average of
$1,430 and 12.1% more than the state average of
$1,020.
Can I afford Farmington?
To live comfortably in Farmington New Mex Metro Area, New Mexico, a minimum annual income of
$38,880 for a family, and
$30,800 for a single person is recommended.
What does A.I. say about Farmington?
Living in Farmington, NM Metro Area is more affordable than other areas of the US. The median house value is $202,100 which is significantly lower than the US average of $338,100. Along with that, the cost of living in Farmington is 79.1 compared to the US average of 100. This means that groceries, housing and other daily expenses are all more affordable in Farmington than other areas. It's a great place to live if you're looking for an area with an affordable cost of living.