Housing costs in Farmington?
A typical home costs
$191,800, which is 43.3% less expensive than the national average of
$338,100 and 28.2% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Farmington costs
$1,000 per month, which is 2.0% cheaper than the national average of
$1,020 and 9.0% more than the state average of
$910.
Can I afford Farmington?
To live comfortably in Farmington (zip 87401), New Mexico, a minimum annual income of
$36,720 for a family, and
$33,600 for a single person is recommended.
What does A.I. say about Farmington?
The cost of living in 87401 Farmington, NM is quite affordable compared to other cities in the United States. The overall cost of living index is 74.2, which is lower than the national average by 18.7 points. According to BestPlaces, food prices are on par with the US average while housing costs are slightly below average. Consumers can also expect utilities to be more affordable than other parts of the country, with electricity costing an average of $0.09 per kW/h and natural gas costing an average of $9.20 per thousand cubic feet. With this combination of affordability and convenience, 87401 Farmington, NM provides a great opportunity for those looking for a new place to live and work.