salaryRent is lower than in 79% of U.S. cities. A typical house costs about 3.1 years of household income. Commutes are short, about 19.5 minutes.
How much money do I need?
To rent here comfortably, you should earn about $46,160 a year. That is $22 an hour at a full-time job.
Is rent cheaper than other New Mexico cities?
Yes. Rent here is cheaper than in most of New Mexico. It is number 21 of 44 cities from cheapest to most expensive.
How much do households earn in Farmington?
Share of households by yearly income. 22.9% of households earn $100,000 or more.
Rent by apartment size in Farmington
| Size | Farmington | U.S. average |
|---|---|---|
| Studio | $902 | $1,338 |
| 1 bedroom | $655 | $1,324 |
| 2 bedrooms | $1,039 | $1,509 |
| 3 bedrooms | $1,589 | $1,698 |
| 4 bedrooms | $1,781 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Farmington overall?
Everyday prices in the Farmington metro area are 12% below the U.S. average (index 87.7, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Farmington
Life in Farmington
What jobs pay in Farmington
| Job | Median pay | Rent / pay |
|---|---|---|
| Pharmacist | $147,390 | 9.4% |
| Physician Assistant | $142,890 | 9.7% |
| Nurse Practitioner | $126,900 | 10.9% |
| Software Developer | $113,780 | 12.2% |
| Lawyer | $108,090 | 12.8% |
| Civil Engineer | $97,470 | 14.2% |
| Operations Manager | $95,170 | 14.6% |
| Dental Hygienist | $90,420 | 15.3% |
| Computer Systems Analyst | $84,000 | 16.5% |
| Registered Nurse | $83,070 | 16.7% |
| Elementary School Teacher | $76,840 | 18.0% |
| Accountant | $76,100 | 18.2% |
| Licensed Practical Nurse | $62,690 | 22.1% |
| Police Officer | $62,200 | 22.3% |
| Carpenter | $59,720 | 23.2% |
| Market Research Analyst | $59,400 | 23.3% |
| Electrician | $57,150 | 24.2% |
| HVAC Technician | $52,040 | 26.6% |
| Truck Driver | $51,070 | 27.1% |
| Plumber | $48,970 | 28.3% |
| Nursing Assistant | $39,390 | 35.2% |
| Warehouse Worker | $37,850 | 36.6% |
| Customer Service Representative | $37,500 | 36.9% |
| Medical Assistant | $37,440 | 37.0% |
| Server (Waiter/Waitress) | $37,210 | 37.2% |
| Restaurant Cook | $34,540 | 40.1% |
| Retail Salesperson | $31,530 | 43.9% |
| Cashier | $28,610 | 48.4% |
Is it cheaper to rent or buy in Farmington?
Renting is cheaper right now: about $463 a month less.
Owning assumes a typical $233,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $23,300 for the down payment.
Frequently asked questions
What is the average rent in Farmington, NM?
Renting in Farmington costs a median of about $1,154 a month in 2026, including utilities. The New Mexico median is $1,181.
How much do I need to make to live in Farmington?
To keep rent under 30% of income, you need about $46,160 a year, or $22 an hour at a full-time job.
Is Farmington cheap or expensive?
Farmington is rated Cheap: rent takes 18.7% of the typical household income of $74,184. It ranks 21st cheapest of 44 New Mexico cities we track.
How much are property taxes in Farmington?
The median homeowner in Farmington pays $1,427 a year in property taxes, about 0.61% of the median home value.
Is Farmington more expensive than the national average?
Overall prices in the metro area are 12% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Farmington?
The median home value in Farmington is $233,000, about 3.1 times the typical yearly household income.
46,314 people live in Farmington. Numbers are typical (middle) values.