Farmington, NM is a great place to live with beautiful views. It is home to many local companies such as San Juan Regional Medical Center, Aztec Ruins National Monument, and Farmington Museum. Rent for a 2 bedroom in Farmington is $1,050 which is significantly lower than the US average of $1,430. Additionally, the grocery cost index in Farmington is 96 compared to 100 in the US making it an affordable spot to live and get groceries.
Farmington has an unemployment rate of 9.0%. The US average is 6.0%.
Farmington has seen the job market decrease by -7.9% over the last year. Future job growth over the next ten years is predicted to be 19.8%, which is lower than the US average of 33.5%.
Tax Rates for Farmington
- The Sales Tax Rate for Farmington is 7.6%. The US average is 7.3%.
- The Income Tax Rate for Farmington is 4.9%. 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 $26,096 a year. The US average is $37,638 a year.
- The Median household income of a Farmington resident is $56,045 a year. The US average is $69,021 a year.