Farmington, MN, located in Dakota County, is a thriving community with population of 20,719. This welcoming city offers an array of amenities such as quality schools, local parks, and plenty of shopping and dining options. The average rent for a two-bedroom apartment in Farmington is $1,520 while the national average for two bedrooms is $1,430. Furthermore, the Grocery Cost Index in Farmington is 102 compared to 100 in the US.
In terms of local businesses, Farmington features many choices for shopping and dining. Some examples include MJ's Crafts & Antiques which offers unique treasures from around the world as well as locally made items; Grotecki's Bakery that specializes in custom cakes and pastries; and The Wine Thief which offers an extensive selection of wines from around the globe plus craft beer. Additionally there are services such as legal help from Kallemeyn & Kallemeyn Attorneys at Law; health care at Allina Health Clinic; and banking with MidCountry Bank-Farmington just to name a few.
Farmington (zip 55024) has an unemployment rate of 4.1%. The US average is 6.0%.
Farmington (zip 55024) has seen the job market decrease by -3.7% over the last year. Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%.
Tax Rates for Farmington (zip 55024)
- The Sales Tax Rate for Farmington (zip 55024) is 7.1%. The US average is 7.3%.
- The Income Tax Rate for Farmington (zip 55024) is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Farmington (zip 55024)
- The average income of a Farmington (zip 55024) resident is $39,781 a year. The US average is $37,638 a year.
- The Median household income of a Farmington (zip 55024) resident is $107,338 a year. The US average is $69,021 a year.