Farmington cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexFarmingtonMaineNational
Cost of living index102105100
IndexFarmingtonMaineNational
Goods & Services index115115100
Groceries index109109100
Health care index114114100
Housing index8092100
Transportation index102102100
Utilities index107107100
Here we can see a simple outline of the cost of living in Farmington, ME. As you can see, with the average cost of living in Farmington, ME being 102, that puts it 3% lower than the average of Maine and 2% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Farmington, ME, the price of goods and services are equal to the average of Maine as well as 15% higher than the nation's average.
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Did you know?

  • The cost of living in Farmington is 3% lower than the Maine average.
  • The cost of living in Farmington is 2% higher than the national average.
  • The cost of housing in Farmington is 20% lower than the national average.
  • Maine general sales tax is 8% higher than the national average.
  • Maine state income tax is 161% higher than the national average.

Compare Farmington, ME Cost of living To Other Cities

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      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Using the salary calculator lets you compare the salary you earn in Farmington, ME to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Farmington, ME, you have to earn a higher income in order to still have the same standard of living. To operate the Farmington, ME salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$50,577$4,215$1,180$1,517
      Renters$12,411$1,034$290$372
      The affordability of the housing market in Farmington, ME as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Farmington, ME homeowners, the median income is $50,577. This indicates that a monthly maximum of $1,180 should be spent by homeowners on all housing related costs. Renters have a median income of $12,411. This indicates that renters should have a maximum of $290 used for their rent related monthly costs.

      Maine Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Maine5.5%5.5%

      Maine Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Maine5.8%7.15%
      When assessing the complete cost of living in Farmington, ME, the Maine income tax and the Maine sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Maine maximum surtax is 5.5%, and the Maine sales tax is 5.5%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 5.8% to 7.15% in Maine.

      Goods & Services

      ItemFarmingtonNational avg.Difference
      Haircut $23.02$17.4931.6%
      Beauty Salon $43.54$38.1714.1%
      Toothpaste $2.29$2.321.3%
      Shampoo $1.12$1.0110.7%
      Movie $11.33$10.725.6%
      Bowling $15.63$13.8612.8%

      Groceries

      ItemFarmingtonNational avg.Difference
      Ground Beef $3.57$3.908.5%
      Fried Chicken $1.46$1.404.6%
      Milk $2.08$1.966.0%
      Potatoes $3.46$3.188.7%
      Pizza $11.02$10.396.0%
      Beer $9.48$9.232.7%

      Health Care

      ItemFarmingtonNational avg.Difference
      Optometrist $148.43$106.3439.6%
      Doctor $151.95$115.2531.8%
      Dentist $107.57$98.389.3%
      Ibuprofen $9.12$9.261.5%
      Lipitor $468.45$466.470.4%

      Housing

      ItemFarmingtonNational avg.Difference
      Home Price $160,300.00$184,700.0013.2%
      Avg. Mortgage Payment $1,642.34$1,273.3229.0%
      Apartment Rent $604.00$949.0036.4%

      Transportation

      ItemFarmingtonNational avg.Difference
      Gasoline $2.57$2.590.8%
      Tire Balancing $53.63$48.909.7%

      Utilities

      ItemFarmingtonNational avg.Difference
      All Electricity$191.47$167.6014.2%
      Phone $178.74$163.429.4%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City, StatePopulationCost of Living IndexNational Avg.
      Livermore Falls, ME1,44591-9%
      Madison, ME2,33694-6%
      Wilton, ME2,09094-6%
      Anson, ME85396-4%
      Chisholm, ME1,36298-2%
      Farmington, ME4,1511022%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Loch Lomond, VA4,15112424%
      Taylor, AZ4,15396-4%
      Pipestone, MN4,14980-20%
      Hooksett, NH4,14911212%
      Vidalia, LA4,14882-18%
      Farmington, ME4,1511022%
      Source: The Farmington, ME cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.