Real Estate Agent Salary in Farmington, NM
How much does a real estate agent make in Farmington? Explore median, entry-level, and senior salaries adjusted for Farmington's cost of living.
Salary Breakdown by Experience Level
See how real estate agent salaries break down across different pay periods in Farmington.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $34,322 | $60,799 | $93,160 |
| Monthly | $2,860 | $5,067 | $7,763 |
| Biweekly | $1,320 | $2,338 | $3,583 |
| Weekly | $660 | $1,169 | $1,792 |
| Hourly | $17 | $29 | $45 |
Farmington vs National Average
How Farmington's real estate agent salaries compare to national figures.
Cost of Living in Farmington
About Real Estate Agent
Overview
Buy, sell, and rent properties on behalf of clients.
Education
High school diploma; Real Estate license required
Key Skills
Growth Rate
Expected job growth: +15% over the next decade
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Real Estate Agent Salary in Farmington, NM — Complete Guide
Median Salary Overview
The median salary for a real estate agent in Farmington, NM is $60,799 per year, adjusted for the local cost of living index of 84. This figure reflects typical earnings for experienced professionals in this role, considering Farmington's unique economic conditions.
Salary Range and Experience Levels
Entry-level real estate agent professionals in Farmington can expect to earn around $34,322 annually. As professionals gain experience, salaries typically increase, with senior-level real estate agents earning approximately $93,160 per year. This represents a 171% increase from entry to senior level.
Cost of Living Adjustment
Farmington's cost of living index of 84 significantly impacts salary comparisons. As a lower cost-of-living city, salaries in Farmington are adjusted accordingly. This means that while the nominal salary may appear higher or lower than the national average of $82,250, the actual purchasing power must be considered in context.
Housing and Affordability
A significant portion of a real estate agent's salary in Farmington typically goes toward housing. With a 1-bedroom apartment averaging $720 per month, housing represents about 14.2% of median salary. Financial experts generally recommend keeping housing expenses below 30% of gross income.
Career Growth and Opportunities
Real Estate Agents are in growing demand across the United States, with an expected job growth of 15% over the next decade. In Farmington, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.