Farmington Metro Area, NM Housing

The housing market in Farmington, NM Metro Area is strong. The median value of a home in the area is $202,100, which is significantly lower than the US median value of $338,100. However, in the past year this area has seen an impressive 15.19% house appreciation compared to only 8.27% country-wide. This points to increased demand for housing in this area as buyers are willing to pay more for homes here than elsewhere in the US.

The median home cost in Farmington Metro Area is $202,100. Home appreciation the last 10 years has been 37.5%. Home Appreciation in Farmington Metro Area is up 13.4%.

Average Age of Homes

- The median age of Farmington Metro Area real estate is 34 years old

The Rental Market in Farmington Metro Area

- Renters make up 22.1% of the Farmington Metro Area population
- 2.8% 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Farmington, New Mexico	United States
	48,072.0	139,647,020.0
	36	42
	$202,100	$338,100
	13.4%	16.6%
	33.8%	57.0%
	37.5%	101.1%
	$7.02	$10.98
	$1,088	$2,690
	59.8%	57.4%
	15.5%	11.2%
	24.8%	31.4%
Vacant Housing
	2.8%	1.9%
	0.2%	0.4%
	1.4%	0.7%
	0.0%	0.4%
	2.5%	3.6%
	8.6%	4.1%
Value of Owner-Occupied Housing
	11.0%	2.6%
	6.2%	2.4%
	5.7%	2.8%
	5.3%	3.9%
	5.5%	4.5%
	13.9%	11.3%
	21.1%	13.0%
	19.4%	20.1%
	6.6%	13.6%
	2.2%	8.3%
	2.0%	9.7%
	0.7%	3.9%
	0.2%	2.2%
	0.0%	0.8%
	0.1%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	15.2%	13.6%
	15.2%	13.6%
	20.0%	13.6%
	18.8%	13.2%
	20.6%	14.8%
	20.0%	13.6%
	8.4%	10.0%
	1.7%	4.7%
	1.5%	12.2%

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