Cost of Living: Farmington, MN vs Laurel, MD
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Farmington | Laurel |
|---|---|---|
| Housing Index | 110.2 | 120.0 |
| Median Home Price | $346,000 | $414,000 |
| Average Rent (2 BR Apartment) | $1600 | $2200 |
| Average Rent (2 BR House) | $1640 | $2240 |
Housing Comparison: Farmington vs Laurel
- The median home price in Laurel is higher at $414,000, compared to $346,000 in Farmington.
- In Laurel, the rental for a two-bedroom apartment stands at $2,200, while it is $1,600 in Farmington.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Farmington | Laurel |
|---|---|---|
| Electricity Price | $16.38 | $17.41 |
| Natural Gas Price | $14.87 | $18.44 |
| Other Utilities | $220 | $250 |
Utilities Comparison: Farmington vs Laurel
- Laurel has higher electricity costs at $17.41 per kWh, versus $16.38 in Farmington.
- Laurel experiences higher natural gas costs at $18.44 per unit, with costs at $14.87 in Farmington.
- Laurel has higher utility expenses, averaging $250, while Farmington averages $220.