Farmington, NM Metro Area is an ideal place for those looking to settle down due to its affordable 2 bedroom rent of $910 compared to the US average of $1,430. It is also great for people on a budget with a Grocery Cost Index 92 as opposed to the national average of 100. The area features a wide range of businesses such as San Juan College, Kirtland FCU, Farmington Municipal Schools and Presbyterian Medical Services. San Juan College offers high quality educational services while Kirtland FCU provides financial services. Farmington Municipal Schools are perfect for those looking for education options for their children while Presbyterian Medical Services offers excellent medical care. With so many businesses available in the Farmington Metro Area, it's no surprise that it has become a popular location for families and individuals alike.
Farmington Metro Area has an unemployment rate of 9.7%. The US average is 6.0%.
Farmington Metro Area has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 18.2%, 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 7.7%. The US average is 7.3%.
- The Income Tax Rate for Farmington Metro Area 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 Metro Area
- The average income of a Farmington Metro Area resident is $21,992 a year. The US average is $28,555 a year.
- The Median household income of a Farmington Metro Area resident is $47,485 a year. The US average is $69,021 a year.