Cost of Living: Farmington, NM vs Phoenix, AZ
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 $4,370/mo in Phoenix, AZ. In the model, rent is about 14.47% of gross in Farmington, NM versus 21.24% in Phoenix, AZ, so Farmington, NM tends to feel more affordable for rent.
Compare cost of living, rent, housing prices, and salary affordability between Farmington, NM and Phoenix, AZ.
At a glance
- Cheaper overall (lower cost-of-living index): Farmington, NM
- Lower rent (median 1BR/2BR): Farmington, NM
- Lower home prices: Farmington, NM
- Higher median household income: Phoenix, AZ
Cost of Living Index
Farmington, NM: 100 (U.S. = 100) · Phoenix, AZ: 102.4 (U.S. = 100)
Farmington, NM has a lower cost-of-living index than Phoenix, AZ, so a given salary generally stretches further there.
Median Rent
Farmington, NM: $944/mo (midpoint of 1BR/2BR) · Phoenix, AZ: $1,385/mo
Median rent in Phoenix, AZ is $441/mo higher than in Farmington, NM.
Median Home Price
Farmington, NM: $225,400 · Phoenix, AZ: $381,900
Median home price in Phoenix, AZ is $156,500 higher than in Farmington, NM.
Median Household Income
Farmington, NM: $63,745 · Phoenix, AZ: $77,041
Phoenix, AZ has a higher median household income than Farmington, NM by $13,296.
Farmington, NM overview · Phoenix, AZ overview · Popular comparisons