Farmington, NM — income, home value, property tax, and sales tax.
In ZIP 87416, near Farmington, households bring in a median income of $49,973, or $21,849 per person. A median home value of $94,400 pairs with a county property tax rate of 0.68%, which keeps annual housing taxes low enough that ownership stays within reach on those earnings. Sales tax adds 4.88% to purchases, a rate that shapes everyday spending alongside the property levy. Together, the two taxes take a smaller share of income than in many parts of the country, while home prices sit well below national norms, giving households here a cost structure where wages stretch further than the figures alone might imply.
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