Housing costs in Farmington?
A typical home costs
$367,000, which is 8.5% more expensive than the national average of
$338,100 and 18.6% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Farmington costs
$1,520 per month, which is 22.6% more than the national average of
$1,240 and 7.9% more than the state average of
$1,400.
Can I afford Farmington?
To live comfortably in Farmington (zip 55024), Minnesota, a minimum annual income of
$70,200 for a family, and
$49,600 for a single person is recommended.
What does A.I. say about Farmington?
The cost of living in 55024 Farmington, MN is slightly higher than the national average and is considered to be moderate compared to other cities in Minnesota. The cost of housing is fairly high, however, due to the fact that many homes are larger than average and can include upgrades such as a pool or jacuzzi. Other essential costs such as groceries, transportation, health care, and utilities are all relatively low. There are also plenty of public parks and recreational activities available for affordable entertainment. Overall living expenses in Farmington are manageable when factoring in the city's overall quality of life.