Farmington, ND is a small town with a population of about 830 people. It is located in rural North Dakota and is known for its friendly community and affordable housing. The median 2 bedroom rent in Farmington, ND is $820 compared to the US median rent for a two bedroom home at $1,430. Additionally, the Grocery Cost Index in Farmington, ND is 92 compared to 100 in the US - making it an incredibly affordable place to live. There are many local companies within Farmington, such as Farm Talent Dairy & Creamery, Yuhas Farms, and Katok Hardware that provide jobs for residents as well as visiting tourists. All in all, Farmington, ND offers a high quality of life at an incredibly cost-effective price point.
Farmington has an unemployment rate of 5.8%. The US average is 6.0%.
Farmington has seen the job market decrease by -3.2% over the last year. Future job growth over the next ten years is predicted to be 23.2%, which is lower than the US average of 33.5%.
Tax Rates for Farmington
- The Sales Tax Rate for Farmington is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Farmington is 2.0%. 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 $46,179 a year. The US average is $28,555 a year.
- The Median household income of a Farmington resident is $54,107 a year. The US average is $69,021 a year.