Farmington, UT

Very High · 149

Utah · Population 24,934 · Updated March 2026

$1,644
Median Rent / Month
$120,432
Median Income
$618,400
Median Home Value
$1,910
Owner Costs / Month

Affordability

How far your income goes in Farmington

16.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Utah

State-level tax rates that affect your costs

4.65%
Income Tax (Top Rate)
6.1%
Sales Tax
0.58%
Property Tax Rate

Estimated Annual Costs

$19,728
Annual Rent
$5,600
State Income Tax
$3,587
Property Tax (est.)

Cost of Living Overview

Farmington has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 149 (where 100 equals the national median), Farmington residents can expect to pay median rent of $1,644/month while earning a median household income of $120,432/year.

The median home value in Farmington, UT is $618,400, with typical monthly owner costs around $1,910 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Utah has a moderate income tax rate of 4.65%. Combined with a 6.1% sales tax rate and 0.58% effective property tax rate, the overall tax environment is a factor in the total cost of living in Farmington.

Frequently Asked Questions

Common questions about living costs in Farmington

What is the cost of living in Farmington, UT?
The cost of living index in Farmington, UT is 149 (US average = 100). Median monthly rent is $1,644, median household income is $120,432/year, and the median home value is $618,400.
Is Farmington, UT affordable?
No, Farmington is more expensive than the national average with a cost index of 149. The rent-to-income ratio is 16.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Farmington, UT?
The median gross rent in Farmington, UT is $1,644 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $19,728.
What is the median household income in Farmington?
The median household income in Farmington, UT is $120,432 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Utah?
Utah has a top income tax rate of 4.65%, a sales tax of 6.1%, and an effective property tax rate of 0.58%.