Cost of Living: Farmington, NM vs Chicago, IL
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 $4,227/mo in Chicago, IL. In the model, rent is about 14.47% of gross in Farmington, NM versus 20.28% in Chicago, IL, so Farmington, NM tends to feel more affordable for rent.
Compare cost of living, rent, housing prices, and salary affordability between Farmington, NM and Chicago, IL.
At a glance
- Cheaper overall (lower cost-of-living index): Chicago, IL
- Lower rent (median 1BR/2BR): Farmington, NM
- Lower home prices: Chicago, IL
- Higher median household income: Farmington, NM
Cost of Living Index
Farmington, NM: 100 (U.S. = 100) · Chicago, IL: 98.3 (U.S. = 100)
Chicago, IL 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) · Chicago, IL: $1,323/mo
Median rent in Chicago, IL is $379/mo higher than in Farmington, NM.
Median Home Price
Farmington, NM: $225,400 · Chicago, IL: $147,800
Median home price in Farmington, NM is $77,600 higher than in Chicago, IL.
Median Household Income
Farmington, NM: $63,745 · Chicago, IL: $56,815
Farmington, NM has a higher median household income than Chicago, IL by $6,930.
Farmington, NM overview · Chicago, IL overview · Popular comparisons