Salary & Cost of Living in Farmington, NM
Farmington, NM: $39,930 median salary, cost of living index 88.8, $12.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$39,930
$19/hr
Cost of Living
88.8
US avg = 100
Minimum Wage
$12.00
per hour
Unemployment
4.6%
rate
Farmington, NM Overview
Population
45,877
Median Salary
$39,930
Average Salary
$44,722
Avg Commute
17 min
Median Home Price
$227,000
Median Rent
$931/mo
Job Growth
+1%
Sales Tax
5.125%
Farmington is located in New Mexico with a population of 45,877. The median household salary is $39,930 per year ($19/hour), which is $19,454 below the national median of $59,384. The average commute time is 17 minutes, and the city has a job growth rate of +1%.
Farmington Salary by Experience Level (2026)
Wage distribution in Farmington, NM based on BLS percentile breakdown of the $39,930 median salary. Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $24,757 | $11.90/hr | 0–2 years |
| Mid-Level (Median) | $39,930 | $19.20/hr | 3–7 years |
| Senior-Level | $56,701 | $27.26/hr | 8–15 years |
| Top 10% (90th Percentile) | $71,075 | $34.18/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) derived from 2024 BLS Occupational Employment and Wage Statistics distribution across all occupations in metro areas. Specific roles vary; see jobs by city for role-specific data.
Farmington Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Farmington, NM, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$31,766
$2,647.20/month · $1,221.78/biweekly · Effective Rate: 20.4%
Gross Pay
$39,930
Federal Tax
-$2,753
State Tax
-$2,356
Local Tax
$0
FICA
-$3,055
Net Pay
$31,766
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $3,327.50 | $39,930.00 |
| Federal Income Tax | -$229.42 | -$2,753.10 |
| New Mexico State Tax (5.9%) | -$196.32 | -$2,355.87 |
| Social Security (6.2%) | -$206.30 | -$2,475.66 |
| Medicare (1.45%) | -$48.25 | -$578.99 |
| Net Take-Home Pay | $2,647.20 | $31,766.39 |
Salary Comparison: Farmington vs Other Cities
See how Farmington's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Farmington, NM | $39,930 | 88.8 | $44,966 |
| National Average | $59,384 | 100 | $59,384 |
| North Little Rock, AR | $39,871 | 86.6 | $46,040 |
| Brownsville, TX | $40,000 | 78 | $51,282 |
| Mansfield, OH | $39,845 | 84.1 | $47,378 |
| Crown Point, IN | $40,082 | 81.2 | $49,362 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Farmington
Farmington's cost of living index is 88.8 (national average = 100). Living in Farmington is 11.200000000000003% less expensive than the national average.
Median Home Price
$227,000
Median Monthly Rent
$931
Annual Rent Cost
$11,172
Your Salary's Purchasing Power
Your $31,766 annual take-home pay in Farmington has the purchasing power of approximately $35,773 in an average-cost US area. Your $39,930 salary stretches further here than in most US cities.
Top Industries in Farmington
Farmington's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $39,930.
Salary Tips for Farmington Workers
- Your salary goes further here. Farmington has a cost of living 11.200000000000003% below the national average. A salary of $39,930 here has the purchasing power of about $44,966 in an average-cost area.
- Maximize pre-tax deductions. With a 5.9% state income tax rate, maximizing 401(k) contributions (up to $24,500 in 2026) and HSA contributions can significantly reduce both your federal and state tax burden.
- Research top industries. Farmington's top industries include Military, Energy, Tourism. Targeting roles in these sectors can help you earn above the $39,930 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Farmington, NM?
The median salary in Farmington, NM is $39,930 per year, or $19 per hour. The average salary is $44,722. This is $19,454 below the national median of $59,384.
What is the cost of living in Farmington, NM?
Farmington's cost of living index is 88.8 (national average = 100), meaning it is 11.200000000000003% less expensive compared to the national average. The median home price is $227,000 and the median monthly rent is $931.
What are the best industries in Farmington?
The top industries in Farmington, NM include Military, Energy, Tourism. The city has a job growth rate of 1% and an unemployment rate of 4.6%. Workers in these industries often earn above the city's median salary of $39,930.
How does Farmington's salary compare to other cities?
Farmington's median salary of $39,930 is 32.8% below the national median of $59,384. However, when adjusted for cost of living (index: 88.8), the real purchasing power is approximately $44,966.
What is the minimum wage in Farmington, NM?
The minimum wage in Farmington, NM is $12.00 per hour. This equals approximately $24,960 per year for a full-time worker (40 hours/week). This is $4.75 above the federal minimum wage of $7.25/hour.