Farmington, AR vs Hot Springs Village, AR

Farmington, AR and Hot Springs Village, AR have a very similar cost of living, with only a 3% difference in their overall index. Farmington scores 90 while Hot Springs Village scores 87 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Farmington is $1,223/month compared to $1,167/month in Hot Springs Village — a 5% difference. Interestingly, home values tell a different story: while Hot Springs Village has cheaper rent, Farmington actually has lower median home values ($249,900 vs $262,000).

Median household income in Farmington is $88,541 compared to $69,953 in Hot Springs Village (+26.6%). While Farmington is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Farmington spend roughly 16.6% of their income on rent, less than the 20% in Hot Springs Village.