Farmington, MN vs Minnetonka, MN

There is a significant gap in the cost of living between these two cities. Farmington is 18.7% cheaper than Minnetonka. With a cost index of 103 vs 127, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Farmington to Minnetonka should plan for substantially higher expenses across most categories.

On the housing front, median rent in Farmington is $1,275/month compared to $1,758/month in Minnetonka — a 28% difference. Home values follow the same pattern: Farmington is more affordable at $345,100 median vs $456,200.

Median household income in Farmington is $118,556 compared to $120,496 in Minnetonka (-1.6%). Minnetonka does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Farmington spend roughly 12.9% of their income on rent, less than the 17.5% in Minnetonka.