NAICS 52

Finance and Insurance in Farmington, NM

Metro Market Score 29.4 (Favorable), ranked #44 of 331 metros. 150 establishments, 706 jobs.

Metro Market Score 29.4

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Favorable

ⓘ Lower is better. Relative to national finance and insurance average.

✓Favorable Market🌱Emerging Market

Few finance and insurance firms have established themselves in Farmington yet. The concentration index of 8.2 is well below the metro median, while employment growth is positive (trend: 56.2). That combination points to a market still building out.

Industry Concentration

8.2

LQ: 0.37

Rank #27 of 331 metros

Wage Competitiveness

10.9

$69,604 avg wage

Growth Trend

↑ 56.2

Employment growth index

Rank #146 of 331 metros

Wage Pressure

57.6

YoY wage change index

150 Finance and Insurance Firms in Farmington

150

Establishments

+8.7% YoY

706

Total Employment

+0.0% YoY

$69,604

Average Annual Wage

+10.7% YoY

0.37

Location Quotient

Below national avg

Within New Mexico

#1 of 3

finance and insurance metros in state

New Mexico state rank

#31 of 51

for finance and insurance entry risk

vs State Median

-5.3

better than median (34.7)

Farmington vs New Mexico Statewide

How this metro's finance and insurance market compares to New Mexico overall. The state ranks #31/51 for entry risk.

Measure	Farmington	NM Statewide
Overall Score	29.4 Favorable	53.1 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#44 of 331 metros	#31 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Farmington

Professional, Scientific, and Technical Services 18.5 Real Estate and Rental and Leasing 18.6 Information 22.1 Administrative and Support Services 29.9 Construction 45.2 Healthcare and Social Assistance 50.3 Retail Trade 55.3 Other Services 57.2 Accommodation and Food Services 63.2

Finance and Insurance in Other New Mexico Metros

Las Cruces 34.7 #74/331 Santa Fe 56.3 #227/331

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Farmington's 29.4 score. Useful when comparing markets with comparable entry profiles.

Mansfield, OH 29.5 #45/331 Michigan City-La Porte, IN 29.6 #46/331 Gadsden, AL 29.2 #43/331 Hinesville, GA 29.7 #47/331 Gettysburg, PA 29.7 #48/331 Kenosha, WI 29.0 #42/331 Anniston-Oxford, AL 29.0 #41/331 Lawrence, KS 29.0 #40/331 Longview, TX 29.9 #49/331 Kingsport-Bristol, TN 30.0 #50/331

Finance and Insurance in States Bordering New Mexico

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

Texas 50.4 #25/51 Utah 51.9 #27/51 Arizona 52.6 #29/51 Oklahoma 64.9 #48/51 Colorado 67.3 #50/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Farmington's finance and insurance sector, the employment growth component (43.8) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Farmington, NM MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment