Farmington, MI, has a cost of living index that is slightly below the nationwide average. The overall cost of living in Farmington stands at 93, which is 7% lower than the national average of 100. This means that, on average, residents in Farmington can expect to spend less on most goods and services compared to the rest of the country.
Specifically, housing costs in Farmington are 15% lower than the national average, while groceries are only 5% below the average. Utilities are on par with the national average, but transportation costs are 10% lower. Healthcare costs are slightly higher, at 5% above the national average, while miscellaneous costs are 8% below. This balanced mix makes Farmington an attractive option for those seeking a more affordable lifestyle.
Farmington, MI, presents a cost of living that is relatively favorable compared to the nationwide average. The housing index in Farmington stands at 85, which is 15% lower than the national average of 100. This suggests that housing costs in Farmington are more affordable, making it an attractive option for those looking to save on housing expenses.
In addition to housing, the transportation index in Farmington is 90, which is 10% lower than the national average. This indicates that commuting and vehicle-related costs are also more economical in Farmington. Groceries, utilities, and miscellaneous expenses are close to the national average, with indices of 95, 100, and 92, respectively. Healthcare costs, however, are slightly higher, with an index of 105, reflecting a 5% increase over the national average. Overall, Farmington offers a balanced cost of living with some areas being more affordable and others slightly higher.
