Cost of Living in Farmington, NM
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
99.5
100 = national avg
-0.5 vs national average
Living Wage (1 Adult)
$43,802
per year
Living Wage (Family of 4)
$103,532
per year
Cost Index by Category
Housing106.9
Food98.7
Transportation84.9
Healthcare99.0
Utilities100.6
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$885
per month
2 Bedroom
$1,085
per month
The overall cost of living index in Farmington is 99.5, which is 0.5% below the national average. Housing costs are above the national average at an index of 106.9. A single adult needs to earn approximately $43,802 per year to cover basic expenses.