Cost of Living: Farmington, NM vs Albuquerque, NM
Quick rent-and-take-home comparison
Using a baseline of $70,000/yr gross, take-home is about $4,230/mo in Farmington, NM versus $4,230/mo in Albuquerque, NM. In the model, rent is about 14.47% of gross in Farmington, NM versus 15.81% in Albuquerque, NM, so Farmington, NM tends to feel more affordable for rent.
Compare cost of living, rent, housing prices, and salary affordability between Farmington, NM and Albuquerque, NM.
At a glance
- Cheaper overall (lower cost-of-living index): Albuquerque, NM
- Lower rent (median 1BR/2BR): Farmington, NM
- Lower home prices: Farmington, NM
- Higher median household income: Albuquerque, NM
Cost of Living Index
Farmington, NM: 100 (U.S. = 100) · Albuquerque, NM: 89.6 (U.S. = 100)
Albuquerque, NM has a lower cost-of-living index than Farmington, NM, so a given salary generally stretches further there.
Median Rent
Farmington, NM: $944/mo (midpoint of 1BR/2BR) · Albuquerque, NM: $1,031/mo
Median rent in Albuquerque, NM is $87/mo higher than in Farmington, NM.
Median Home Price
Farmington, NM: $225,400 · Albuquerque, NM: $266,700
Median home price in Albuquerque, NM is $41,300 higher than in Farmington, NM.
Median Household Income
Farmington, NM: $63,745 · Albuquerque, NM: $65,604
Albuquerque, NM has a higher median household income than Farmington, NM by $1,859.
Farmington, NM overview · Albuquerque, NM overview · Popular comparisons