Farmington, MI Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Farmington, MI Summary

Cost of living in Farmington research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Farmington is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Michigan, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Farmington is 99, with 100 being the average.

  • The cost of living index in Farmington is 1.0x lower than the national average.

  • Farmington ranks as the #144 cheapest in Michigan out of 175.

  • Farmington ranks as the #3,027 cheapest out of 6,412 in the US.

  • The median home value in Farmington is $228,400.

  • The median income in Farmington is $84,558.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
99
Farmington's Overall Cost Of Living
1.0x
Lower Than The National Average

What is the cost of living in Farmington, MI?

According to the most recent data on the cost of living, Farmington has an overall cost of living index of 99, which is 1.0x lower than the national index of 100.

Compared to Michigan, Farmington has a cost of living index that's 1.1x higher than Michigan's index of 92.

The standard of living in Farmington ranks as #144 most affordable out of the 175 places we measured in Michigan. By definition, that implies Farmington ranks as the #31 most expensive place in the Wolverine State.

For more reading on life in Farmington, check out:

144 out of 175
In Michigan
3,027 out of 6,412
In America

Farmington Cost Of Living Vs. Michigan

Six factors go into calculating the cost of living index in Farmington. Here is how it fairs on each of the criteria:

  • The Services index in Farmington is 110.

  • The Groceries index in Farmington is 99.

  • The Health index in Farmington is 95.

  • The Housing index in Farmington is 93.

  • The Transportation index in Farmington is 108.

  • The Utilities index in Farmington is 94.

Living Expense Farmington Michigan National Average
Overall 99 92 100
Services 110 96 100
Groceries 99 96 100
Health 95 94 100
Housing 93 80 100
Transportation 108 97 100
Utilities 94 100 100
For more reading on cost of living around Michigan, check out:
Farmington Cost of Living Vs. MI

Farmington, MI Housing Cost Breakdown

Housing swings affordability the most between places in Michigan, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Farmington is $228,400.

  • The Median Rent in Farmington is $1,140.

  • The Median Income in Farmington is $84,558.

  • The Home Value To Income in Farmington is 2.7x.

  • The Rent To Monthly Income in Farmington is 0.16x.

Statistic Farmington Michigan United States
Median Home Value $228,400 $172,100 $244,900
Median Rent $1,140 $946 $1,163
Median Income $84,558 $63,202 $69,021
Home Value To Income 2.7x 2.7x 3.5x
Rent To Monthly Income 0.16x 0.18x 0.2x
Search Homes For Sale In Farmington, MI
$228,400
Median Home Value
$1,140
Median Rent
$84,558
Median Income

Farmington, MI Costs By Category

Detailed Farmington Services Costs Vs. Michigan

Item Farmington Michigan
Shampoo $0.94 $1.06
Movie $11.26 $10.68
Bowling $19.8 $14.67
Haircut $18.95 $18.62
Beauty Salon $54.27 $39.05

Detailed Farmington Groceries Costs Vs. Michigan

Item Farmington Michigan
Ground Beef $4.55 $4.22
Fried Chicken $1.13 $1.39
Milk $1.44 $2.05
Potatoes $4.18 $3.29
Pizza $10.82 $10.62
Beer $8.42 $9.38
Toothpaste $2.43 $2.34

Detailed Farmington Health Costs Vs. Michigan

Item Farmington Michigan
Optometrist $81.52 $108.57
Doctor $104.59 $116.17
Dentist $99.57 $99.13

Detailed Farmington Transportation Costs Vs. Michigan

Item Farmington Michigan
Gasoline $2.25 $2.22
Tire Balancing $58.95 $50.07

Detailed Farmington Utilities Costs Vs. Michigan

Item Farmington Michigan
All Electricity $159.51 $167.67
Phone $178.81 $175.64

Farmington SnackAbility

7.5
/10
Overall SnackAbility
Jobs
8.5/10
Housing
8
Affordability
8
Diversity
8.5
Safety
9
Amenities
9
Education
9.5
Commute
7

Cost Of Living In Cities Around Farmington

The cost of living varies in the cities and towns around Farmington. Here's a quick look at the cost of living in the most populous nearby places:

  • Livonia, MI has a cost of living index of 102, 1.0x Farmington.

  • Troy, MI has a cost of living index of 113, 1.1x Farmington.

  • Farmington Hills, MI has a cost of living index of 107, 1.1x Farmington.

City Population Cost Of Living Vs. Farmington
Livonia, MI 95,294 102 1.0x
Troy, MI 86,912 113 1.1x
Farmington Hills, MI 83,749 107 1.1x
Southfield, MI 76,196 96 1.0x
Rochester Hills, MI 75,990 111 1.1x
Novi, MI 65,369 113 1.1x
Royal Oak, MI 58,368 101 1.0x
Birmingham, MI 21,728 134 1.4x
Berkley, MI 15,234 102 1.0x
Clawson, MI 11,482 99 1.0x

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