Cost of Living in Farmington, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
158.0
100 = national avg
+58.0 vs national average
Living Wage (1 Adult)
$69,539
per year
Living Wage (Family of 4)
$164,366
per year
Cost Index by Category
Housing159.2
Food140.6
Transportation181.2
Healthcare132.5
Utilities136.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,405
per month
2 Bedroom
$1,709
per month
The overall cost of living index in Farmington is 158.0, which is 58.0% above the national average. Housing costs are above the national average at an index of 159.2. A single adult needs to earn approximately $69,539 per year to cover basic expenses.