Housing in Farmington, NM has experienced a dramatic appreciation in value over the past year. The median housing value in Farmington is currently $216,100, which is significantly lower than the US housing median of $338,100. However, while the US housing market has appreciated by 8.27% in the past year, Farmington's housing prices have seen an impressive 15.14% increase in value over this same time period. This speaks to the strength and stability of the local real estate market and it's clear that buying a home in Farmington is both financially sound and will continue to grow in value over time.
The median home cost in Farmington is $216,100. Home appreciation the last 10 years has been 37.1%. Home Appreciation in Farmington is up 13.4%.
Average Age of Homes
- The median age of Farmington real estate is 38 years old
The Rental Market in Farmington
- Renters make up 27.5% of the Farmington population
- 5.4% of houses and apartments in Farmington, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.