San Juan County · New Mexico · West · 46k residents
Farmington, NM: economy, jobs & business costs
The site-selection read on Farmington: labor costs, talent, corporate tax, energy, and business activity, with the New Mexico median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,131/wk. New Mexico's corporate income tax rate is 5.9%. Commercial electricity averages 10.5¢/kWh.
Compare Farmington side by side
Avg. weekly wage
$1,131/wk
Corporate income tax
5.9%
Bachelor's degree or higher
26.2%
Commercial electricity
10.5¢/kWh
Economic momentum
How fast Farmington's economy is moving, ranked against the US cities we track.
72/100
Heating
Ranks Farmington's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $233,000 |
| Price per sq. ft. | $190 |
| Property tax rate | 0.8% |
| 1-bedroom rent | $618/mo |
| 2-bedroom rent | $980/mo |
| State & local income tax | 2.74% |
| Sales tax | 7.6% |
| Corporate income tax | 5.9% |
| Avg. weekly wage | $1,131/wk |
| Bachelor's degree or higher | 26.2% |
| Commercial electricity | 10.5¢/kWh |
| Businesses per 1k residents | 25.6/1k |
| Wage: Software developer | $113,780 |
| Wage: Registered nurse | $83,070 |
| Wage: General manager | $95,170 |
| Wage: Customer service | $37,500 |
| Wage: Warehouse worker | $35,680 |
| Wage: Heavy truck driver | $51,070 |
| Wage: Electrician | $57,150 |
| Wage: Retail salesperson | $31,530 |
| Cost of living index | 82 |
| Groceries index | 98 |
| Utilities | $145/mo |
| Transit pass | $45/mo |
| Gas price | $3.05/gal |
| Healthcare index | 96 |
| Childcare (per child) | $950/mo |
| Median household income | $68,784 |
| Unemployment rate | 3.9% |
| Population | 46k |
| Crime index | 80/100 |
| School rating | 3.5/10 |
| Walkability | 30/100 |
| Disaster risk | 88/100 |
| Avg. commute | 22 min |
| Sunny days / year | 280 days |
| July high | 93°F |
| January low | 19°F |
| Annual snowfall | — |
| Home price YoY | +4.9% |
| Home price MoM | +0.3% |
| Rent YoY | +4.3% |
| Rent MoM | +0.1% |
| Employment (jobs) YoY | +2.4% |
| Building permits YoY | -7.0% |
| Ocean coast | 574 mi |
| Big lake | 184 mi |
| Mountains | 92 mi |
| Major airport | 146 mi |
| Ski resort | 67 mi |
Popular comparisons
Nearby
- Gallup, NM · 21k
- Rio Rancho, NM · 109k
- Albuquerque, NM · 562k
- Santa Fe, NM · 89k
- South Valley, NM · 37k
Similar size
- Roswell, NM · 48k
- Hobbs, NM · 40k
- Clovis, NM · 38k
- Carlsbad, NM · 32k
- Alamogordo, NM · 31k
Real listings in Farmington
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Farmington a good place to run a business?
- New Mexico's corporate income tax rate is 5.9%; average weekly wages in the surrounding labor market run $1,131/wk; commercial electricity averages 10.5¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Farmington, NM?
- Farmington indexes at 82 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $980/mo and a acs median home value of $233,000.
- How much does a house cost in Farmington?
- The acs median home value in Farmington is $233,000 (Census ACS estimate; individual listings vary).
- How much is rent in Farmington?
- A two-bedroom in Farmington rents for about $980/mo.