Housing in Farmington, ME is currently quite sound. The median value of a house in the town stands at $229,100, which is significantly less than the US median value of $338,100. However, what it lacks in comparison to the national average it makes up for with its impressive 1-year house appreciation rate of 16.46%, which is nearly double the national average of 8.27%. This suggests that housing in Farmington is growing in value steadily and could be a great investment opportunity for potential buyers.
The median home cost in Farmington is $229,100. Home appreciation the last 10 years has been 82.1%. Home Appreciation in Farmington is up 20.6%.
Average Age of Homes
- The median age of Farmington real estate is 47 years old
The Rental Market in Farmington
- Renters make up 32.5% of the Farmington population
- 3.5% 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.