Cost of Living in Farmington, NM
Population 46,339 · New Mexico · Data vintage 2023
(100 = US avg)
Housing costs in Farmington stay well under national norms: a median home value of $225,000 against median household incomes of $63,745 gives the city one of the more comfortable price-to-income ratios in New Mexico.
Located 130 miles northwest of Rio Rancho, Farmington is far enough out that local conditions diverge meaningfully from the big-metro baseline. Median home values run roughly 18% lower than Rio Rancho's $273,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Farmington
The median home value in Farmington is $225,400 — 26% below the national median of $305,000. Median rent runs $993/month, 24% lower than the national median of $1,314/month. The median household income of $63,745/year is 15% lower than the US median of $74,580. The local unemployment rate is 5.7%, above the national average of 4.8%. New Mexico's top state income tax rate is 5.9% and the combined sales tax is 7.7%. The climate averages highs of 68.2°F and lows of 38.2°F. Overall, Farmington has a cost of living index of 75 versus the US average of 100, meaning it is 25% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 43 | 50 | 60 | 67 | 77 | 89 | 93 | 90 | 82 | 69 | 55 | 43 |
| Low °F | 19 | 24 | 30 | 35 | 44 | 53 | 61 | 60 | 51 | 38 | 27 | 19 |
| Precip" | 0.72 | 0.65 | 0.60 | 0.56 | 0.53 | 0.20 | 0.63 | 0.79 | 1.06 | 0.79 | 0.66 | 0.57 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Farmington, NM?
Farmington has a cost index of 75 (100 = national average). It is 25% below the national average.
What is average rent in Farmington, NM?
The median gross rent in Farmington is $993 per month based on 2023 Census data.
What is the average home price in Farmington?
The median home value in Farmington is $225,400 according to Zillow and Census data.
What is the median income in Farmington?
The median household income in Farmington is $63,745 per year (2023 ACS 5-year estimates).
What is the sales tax in Farmington, NM?
The combined state and local sales tax rate in Farmington is 7.7%. The New Mexico state income tax top rate is 5.9%.
Is Farmington, NM affordable?
Yes, Farmington is generally considered affordable, with a cost of living index of 75 — about 25% below the US national average of 100.
What is the weather like in Farmington?
Farmington has average high temperatures of 68.2°F and average lows of 38.2°F. Annual precipitation is 7.8". Data from NOAA 1991–2020 Climate Normals.
Farmington at a Glance
- Population
- 46,339
- Median Income
- $63,745
- Home Value
- $225,400
- Median Rent
- $993/mo
- Unemployment
- 5.7%
- Avg High Temp
- 68.2°F
- Sales Tax
- 7.7%
Nearby Cities
Explore county-level cost of living data
New Mexico Rankings
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