F
31%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
97%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Farmington Utah National
Cost of living131104100
Goods & Services106102100
Groceries10099100
Health care9691100
Housing197114100
Transportation110105100
Utilities9495100

An Overview of Cost of Living in Farmington, UT

The cost of living in Farmington affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Farmington is 131, which is 31% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Farmington is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Farmington falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs are a major factor in the Farmington cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 97.5% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Farmington Affordable?

Wondering if Farmington is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Farmington, for example, the median home price is 127.2% higher than what folks pay nationally, and monthly rent is 28% higher than the usual rates. Plus, income levels matter too, with Farmington boasting a median household income of $99,208, which is 79.3% higher than the national average.

What Factors can Influence the Cost of Living in Farmington?

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Farmington, the housing index is 97.5% higher than the national average.

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Where is the Data From?

The cost of living in Farmington, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

New Real Estate Listings in Farmington Area
Search Homes for Sale in Farmington, UT

Cost Of Living Quick Facts

  • The cost of living in Farmington is 26% higher than the Utah average
  • The cost of living in Farmington is 31% higher than the national average
  • Farmington housing is 97% higher than the national average
  • Utah general sales tax is 20% higher than the national average
  • Utah state income tax is 87% higher than the national average

Most Affordable Places to Live in and Around Farmington

See all the best places to live around Farmington

Compare Farmington, UT Cost of Living

      vs
      How would you rate the cost of living in Farmington?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Farmington?
      Write a review to give others more information about this area.
      See all Farmington poll results

      Salary Calculator

      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$106,639$8,887$2,488$3,199
      Renters$50,990$4,249$1,190$1,530
      A good indicator of the general affordability of housing in Farmington, UT, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Farmington, the median monthly income is $106,639 for those who own their own homes. Under the standard rule, that income level would allow for $2,488 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $50,990, per the median income in the area. That would allow for renters to spend up to $1,190 on monthly rental expenses.

      Utah Sales Tax

      State General Sales Tax With Max Surtax
      Utah 6.1% 8.35%

      Utah Income Tax

      State Income Tax (Low) Income Tax (High)
      Utah 4.85% 4.85%

      Goods & Services

      Item Farmington National avg. Difference
      Haircut $20.87$24.2614.0%
      Beauty Salon $50.33$45.5610.5%
      Toothpaste $3.57$3.703.6%
      Shampoo $1.18$1.288.1%
      Movie $9.94$12.1318.1%
      Bowling $19.80$18.0010.0%

      Groceries

      Item Farmington National avg. Difference
      Ground Beef $5.76$5.841.3%
      Fried Chicken $1.51$1.574.2%
      Milk $4.65$4.670.4%
      Potatoes $4.60$4.936.7%
      Pizza $11.69$12.093.3%
      Beer $10.59$10.411.7%

      Health Care

      Item Farmington National avg. Difference
      Optometrist $125.19$125.680.4%
      Doctor $117.14$135.7813.7%
      Dentist $85.13$113.2924.9%
      Ibuprofen $10.89$10.652.3%
      Lipitor $528.57$468.6012.8%

      Housing

      Item Farmington National avg. Difference
      Home Price $419,700.00$184,700.00127.2%
      Avg. Mortgage Payment $3,117.82$2,346.6932.9%
      Apartment Rent $1,215.00$949.0028.0%

      Transportation

      Item Farmington National avg. Difference
      Gasoline $3.75$3.468.3%
      Tire Balancing $57.07$59.924.8%

      Utilities

      Item Farmington National avg. Difference
      All Electricity $198.43$193.992.3%
      Phone $192.11$192.250.1%
      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 Population Cost of Living Index National Avg.
      Sunset, UT5,309990.8%
      Washington Terrace, UT9,1811022.2%
      Riverdale, UT8,8261054.7%
      South Ogden, UT17,0801054.9%
      Roy, UT39,2431055.1%
      Farmington, UT24,43913131.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Essa, ON24,435n/a 
      Derby, KS24,428982.3%
      Dinuba, CA24,45511413.5%
      Candler-McAfee, GA24,419954.7%
      Wilsonville, OR24,41314039.7%
      Farmington, UT24,43913131.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.