Cost of Living in Farmington, NH

With a cost of living index of 85, Farmington, NH is a very affordable place to live. Living here is 15% cheaper than the national average and 16% below the New Hampshire state average of 102. Farmington is a small community of 3,753 residents.

Housing costs are the biggest factor in Farmington's cost of living. The median monthly rent is $957 (27% below the US median of $1,319), and the median home value sits at $215,100 (29% below the national median of $304,900). At current prices, the median home costs roughly 4.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Farmington is $51,094, which is 32% lower than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Farmington. The area sees an average annual temperature of 47.7°F, with summers averaging 69°F and winters around 27°F. Annual rainfall totals 41.2 inches spread over roughly 139 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Boston-Cambridge-Newton, MA-NH (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.