Housing costs in Farmington?
A typical home costs
$100,200, which is 70.4% less expensive than the national average of
$338,100 and 62.5% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Farmington costs
$850 per month, which is 16.7% cheaper than the national average of
$1,020 and 7.1% cheaper than the state average of
$910.
Can I afford Farmington?
To live comfortably in Farmington (zip 87499), New Mexico, a minimum annual income of
$19,080 for a family, and
$28,800 for a single person is recommended.
What does A.I. say about Farmington?
The cost of living in 87499 Farmington, NM is relatively low compared to other areas of the United States. The median home cost in the area is $169,800, according to Zillow, which represents a 13.6% decrease over the past year and is lower than the national average of $231,200. Rent for a one-bedroom apartment in the area averages around $655 per month, which is lower than the national average of $960. Additionally, grocery costs are below average at 14.3% less than the national average according to BestPlaces. With these relatively low prices for housing and other necessary expenses, it's easy to see why many people have chosen 87499 Farmington as their new home.