The housing market in Farmington, MO Metro Area is healthy and vibrant. The median value of houses in this area is $165,500, which is much lower than the US median house value of $338,100. This makes it an attractive location for potential buyers to purchase a home at a more affordable price. Additionally, the one-year appreciation rate for homes in this area stands at 10.45%, significantly higher than the US rate of 8.27%. This indicates that homes in Farmington, MO Metro Area are increasing in value quickly and could be a wise investment for potential buyers.
The median home cost in Farmington Metro Area is $165,500. Home appreciation the last 10 years has been 73.1%. Home Appreciation in Farmington Metro Area is up 17.1%.
Average Age of Homes
- The median age of Farmington Metro Area real estate is 38 years old
The Rental Market in Farmington Metro Area
- Renters make up 28.9% of the Farmington Metro Area population
- 1.5% of houses and apartments in Farmington Metro Area, 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.