Farmington, MO Metro Area is an excellent place to settle down. With a two-bedroom rent of only $750, it is much more affordable than the US average of $1,430. The cost of groceries in Farmington is also lower than the US average, with a grocery cost index at 94. As such, Farmington is an appealing option for those looking for an affordable and comfortable lifestyle.
The area boasts many large companies such as St. Francis Medical Center, Walmart Supercenter and Procter & Gamble Manufacturing Co. Additionally, there are several small businesses such as local restaurants and cafes that make up the vibrant local economy. From outdoor recreation at nearby parks to family activities in downtown Farmington it’s no wonder why so many people choose to live here year-round or during holiday seasons.
Farmington Metro Area has an unemployment rate of 5.3%. The US average is 6.0%.
Farmington Metro Area has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 26.8%, which is lower than the US average of 33.5%.
Tax Rates for Farmington Metro Area
- The Sales Tax Rate for Farmington Metro Area is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Farmington Metro Area is 5.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Farmington Metro Area
- The average income of a Farmington Metro Area resident is $19,044 a year. The US average is $28,555 a year.
- The Median household income of a Farmington Metro Area resident is $50,015 a year. The US average is $69,021 a year.