Farmington, WV is an ideal place for people looking to move to a more rural setting while still having access to all the necessities. With a 2 Bedroom rent of $810 compared to the national average of $1,430, Farmington has a very affordable cost of living and is perfect for those that need a change at an affordable price. In addition to its low rent prices, the Grocery Cost Index in Farmington also stands at 95 versus 100 in the US. This makes food a fraction of the cost as it is in other parts of the US. The area also has plentiful local businesses such as American Family Insurance, Hoar Construction LLC and Capstone Bank which provide ample job opportunities for locals. All these factors combine to make Farmington an excellent location for those looking to escape city life without going broke.
Farmington has an unemployment rate of 6.0%. The US average is 6.0%.
Farmington has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 24.0%, 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 6.5%. 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 $21,336 a year. The US average is $28,555 a year.
- The Median household income of a Farmington resident is $69,167 a year. The US average is $69,021 a year.