| Index | Farmington | New Mexico | National |
| Cost of living | 99 | 94 | 100 |
| Groceries | 101 | 98 | 100 |
| Health care | 99 | 98 | 100 |
| Housing | 101 | 85 | 100 |
| Transportation | 98 | 98 | 100 |
| Utilities | 96 | 97 | 100 |
| Lifestyle & Entertainment | 95 | 96 | 100 |
| Household Items | 99 | 98 | 100 |
| Education & Childcare | 95 | 96 | 100 |
Understanding the cost of living in Farmington can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Farmington cost of living index is 99, which is 1% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Farmington closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Farmington can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
Nobody knows their city better than the people who actually live there. So, we asked 7 local residents how they would rate the cost of living in Farmington and this is how they responded. 57% of people said that the cost of living was affordable, with prices decreasing, while 43% of people said that the cost of living was very expensive and prices continue to rise.
Is Farmington an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Farmington is 3.7% higher than the national average, while the average monthly rent prices are 6.6% lower than average. The affordability of any location can also be influenced by median income levels. Farmington has a median household income of $84,140, which is 3.5% higher than the national average.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Farmington comes in at 4% lower than the national average.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Farmington, healthcare costs are 1.5% lower than the national average.
Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Farmington, the groceries index is 0.5% higher than the national average.
The Farmington cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $101,329 | $8,444 | $2,364 | $3,040 |
| Renters | $54,268 | $4,522 | $1,266 | $1,628 |
| State | General Sales Tax | With Max Surtax |
| New Mexico | 5% | 8.688% |
| State | Income Tax (Low) | Income Tax (High) |
| New Mexico | 1.7% | 5.9% |
| City | Population | Cost of Living Index | National Avg. |
| Napi Headquarters, NM | 741 | 78 | 21.9% |
| Nenahnezad, NM | 485 | 80 | 20.0% |
| Upper Fruitland, NM | 1,659 | 81 | 18.6% |
| Bloomfield, NM | 8,020 | 92 | 8.0% |
| Aztec, NM | 6,661 | 94 | 6.5% |
| Farmington, NM | 46,071 | 99 | 1.5% |
| City | Population | Cost of Living Index | National Avg. |
| Quinte West, ON | 46,045 | n/a | |
| Danville, CA | 46,118 | 234 | 133.8% |
| Hackensack, NJ | 46,005 | 126 | 26.3% |
| Plainfield, IL | 45,974 | 124 | 24.1% |
| Rockwall, TX | 46,220 | 113 | 12.8% |
| Farmington, NM | 46,071 | 99 | 1.5% |
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