Farmington, MN vs Mound, MN

Farmington, MN and Mound, MN have a very similar cost of living, with only a 4.5% difference in their overall index. Farmington scores 103 while Mound scores 99 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 $1,275/month compared to $1,119/month in Mound — a 14% difference. Interestingly, home values tell a different story: while Mound has cheaper rent, Farmington actually has lower median home values ($345,100 vs $348,600).

Median household income in Farmington is $118,556 compared to $91,370 in Mound (+29.8%). 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 12.9% of their income on rent, less than the 14.7% in Mound.