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EconPulse

Local economy signal dashboard

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PLACEThriving

Farmington, KY

Thriving overall. Population is the clearest support signal, while jobs needs the most attention. Housing reads as affordable for a median-income household.

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Overall score70out of 100
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75
51
100
63
90

Population

245

Data freshness

Unknown

GDP / Output

+5.1% YoY

75

$1.8B

Output changed +5.1% in 2024.

Vintage date unknown

State growth4.3%
U.S. growth5.3%

Jobs

Unemployment rate

51

5.0%

Unemployment is 5.0% for June 2026.

Vintage date unknown

State avg4.7%
U.S. avg5.2%

Population

+105.9% 5-year

100

245

Population moved +105.9% over the latest ACS window.

Vintage date unknown

State population4,534,824
U.S. population334,922,499

Housing

Rent share of income

63

26.2%

Median rent consumes 26.2% of median household income: Affordable.

Vintage date unknown

State rent$967
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$6.9K per resident

90

$252.7M

$252.7M in federal obligations flowed here in FY2025.

Vintage date unknown

State total$173.4B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$252.7M

$6.9K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$201.1M
2. Department of Veterans Affairs$20.9M
3. Department of Transportation$11.9M

Top recipients

Dollars
1. EXECUTIVE OFFICE OF THE COMMONWEALTH OF KENTUCKY$11.6M
2. REDACTED DUE TO PII$9.4M
3. MAYFIELD HOUSING AUTHORITY$3.0M

Affordable

Housing Affordability

26.2%

of median income

1BR estimate$602
2BR estimate$793
Median income$33,636
Median home value$86,800

ACS context

Quick Facts

Population

245

Median age

24.9

Bachelor's degree+

5.7%

Poverty rate

60.8%

Labor force participation

45.7%

Prime rate

6.8%

CPI YoY

+3.2%

U.S. GDP YoY

+6.5%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

June 2026

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-07-30

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+15.5%

GDP CAGR

+6.8%

Federal flow

5 years

Population (5 years)
2020119
2021122
2022167
2023205
2024245
GDP (5 years)
2020$1.3B
2021$1.4B
2022$1.6B
2023$1.7B
2024$1.8B

2-year linear forecast

Predictive Outlook

Population forecast

2024245
2025272 *
2026306 *

R² = 95.5% · * projected

GDP forecast

2024$1.8B
2025$1.9B *
2026$2.0B *

R² = 92.6% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$33,636/yr
Median rent$734/mo
Rent share of income26.2%
Est. mortgage (30yr, 6.5%)$5,267/yr
Mortgage share of income15.7%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate5.0%
State avg4.7%
U.S. avg5.2%
Labor force participation45.7%
Poverty rate60.8%

Data from BLS LAUS / CPS. June 2026.

valuation snapshot

Real Estate

Median home value$86,800
Median monthly rent$734
Price-to-rent ratio9.9x

Low price-to-rent ratio — buying may be more favorable than renting in this market.

composite score

Investment Climate

Investment climateStrong
Composite score73/100
Economic growth75/100
Labor market51/100
Population momentum100/100
Overall stability70/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Farmington CDP, Kentucky

City/Town

Part of

Mayfield, KY

Nearby locations

Sedalia, KYMayfield, KYPryorsburg, KYWingo, KYMurray, KY