Cost of Living in Farmington, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
77.5
100 = national avg
-22.5 vs national average
Living Wage (1 Adult)
$34,107
per year
Living Wage (Family of 4)
$80,617
per year
Cost Index by Category
Housing59.0
Food91.8
Transportation83.5
Healthcare93.4
Utilities86.9
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$713
per month
2 Bedroom
$919
per month
The overall cost of living index in Farmington is 77.5, which is 22.5% below the national average. Housing costs are below the national average at an index of 59.0. A single adult needs to earn approximately $34,107 per year to cover basic expenses.