16.3% of the population for whom poverty status is determined in Farmington, IA (88 out of 540 people) live below the poverty line, a number that is higher than the national average of 12.5%. The largest demographic living in poverty are Females 25 - 34, followed by Females 65 - 74 and then Males 55 - 64.

The most common racial or ethnic group living below the poverty line in Farmington, IA is White, followed by Hispanic and Black.

The Census Bureau uses a set of money income thresholds that vary by family size and composition to determine who classifies as impoverished. If a family's total income is less than the family's threshold than that family and every individual in it is considered to be living in poverty.