Cost of Living in Farmington, WV

With a cost of living index of 58, Farmington, WV is one of the most affordable cities in the country. Living here is 42% cheaper than the national average and 16% below the West Virginia state average of 73. Farmington is a small community of 431 residents.

Housing costs are the biggest factor in Farmington's cost of living. The median monthly rent is $667 (49% below the US median of $1,319), and the median home value sits at $68,500 (78% below the national median of $304,900). At current prices, the median home costs roughly 0.9x the median household income — well within traditional affordability guidelines.

The median household income in Farmington is $76,094, which is 1% higher than the national median of $75,149. Residents spend roughly 11% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Farmington. The area sees an average annual temperature of 54.9°F, with summers averaging 73°F and winters around 36°F. Annual rainfall totals 44.8 inches spread over roughly 168 days.

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.