The housing market in Farmington, MN has seen a steady appreciation over the past year. The median value of homes in Farmington is slightly higher than the national average at $342,300. Although the rate of appreciation is lower than the national average of 8.27%, it still grew by 6.66%. This indicates that Farmington is a desirable place to live with its relatively low cost of living and increasing values.
The median home cost in Farmington is $342,300. Home appreciation the last 10 years has been 94.0%. Home Appreciation in Farmington is up 12.2%.
Average Age of Homes
- The median age of Farmington real estate is 19 years old
The Rental Market in Farmington
- Renters make up 12.0% of the Farmington population
- 1.1% 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.