Farmington, PA is a small town in Pennsylvania with a population of approximately 2,000 people. The town is known for its rural charm and proximity to larger cities such as Philadelphia. The cost of living in Farmington is quite reasonable compared to other towns across the country. For example, the median rent for a 2 bedroom apartment is $1,010 which is significantly less than the US average of $1430. Additionally, the grocery cost index is 101 versus 100 in the US, indicating that it is slightly more expensive to purchase groceries in Farmington. Popular local companies include C&T Distributors Inc., FG Xpress LLC, Keystone Environmental Solutions LLC, and Kipper Tool Company. This demonstrates that there are ample employment opportunities available within the area. All things considered, Farmington provides an affordable place to live with plenty of amenities and job prospects to choose from.
Farmington has an unemployment rate of 10.2%. The US average is 6.0%.
Farmington has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 21.0%, which is lower than the US average of 33.5%.
Tax Rates for Farmington
- The Sales Tax Rate for Farmington is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Farmington is 3.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Farmington
- The average income of a Farmington resident is $16,312 a year. The US average is $28,555 a year.
- The Median household income of a Farmington resident is $69,279 a year. The US average is $69,021 a year.