Housing in Farmington Metro Area, New Mexico

The median home cost in Farmington Metro Area is $165,052. Home appreciation the last 10 years has been -4.0%. Home Appreciation in Farmington Metro Area is up 1.4%. Browse Farmington Metro Area Real Estate

Average Age of Homes

- The median age of Farmington Metro Area real estate is 32 years old

The Rental Market in Farmington Metro Area

- Renters make up 22.1% of the Farmington Metro Area population
- 2.4% of houses and apartments in Farmington Metro Area, are available to rent

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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.

HOUSING	Farmington, New Mexico	United States
Median Home Age	34	40
Median Home Cost	$165,052	$231,200
Home Appr. Last 12 months	1.4%	6.7%
Home Appr. Last 5 yrs.	10.5%	35.6%
Home Appr. Last 10 yrs.	-4.0%	27.4%
Property Tax Rate	$6.43	$11.78
Property Taxes Paid	$1,061	$2,724
Homes Owned	60.4%	56.0%
Housing Vacant	17.2%	12.2%
Homes Rented	22.4%	31.8%
AVERAGE RENT FOR HOME OR APARTMENT
Average Rent	$1,063	$1,470
Studio Apartment	$667	$821
1 Bedroom Home or Apartment	$674	$930
2 Bedroom Home or Apartment	$784	$1,148
3 Bedroom Home or Apartment	$1,021	$1,537
4 Bedroom Home or Apartment	$1,061	$1,791
VACANT HOUSING
Vacant For Rent	2.4%	2.1%
Vacant Rented	0.4%	0.5%
Vacant For Sale	1.2%	1.0%
Vacant Sold	0.5%	0.5%
Vacant Vacation	3.8%	4.0%
Vacant Other	9.0%	4.2%
VALUE OF OWNER-OCCUPIED HOUSING
Less Than $20,000	11.5%	3.5%
$20,000 to $39,999	6.4%	3.1%
$40,000 to $59,999	6.5%	3.9%
$60,000 to $79,999	6.3%	5.4%
$80,000 to $99,999	5.6%	6.3%
$100,000 to $149,999	16.1%	14.7%
$150,000 to $199,999	19.7%	14.6%
$200,000 to $299,999	16.7%	18.7%
$300,000 to $399,999	6.8%	11.0%
$400,000 to $499,999	1.7%	6.2%
$500,000 to $749,999	2.0%	7.0%
$750,000 to $999,999	0.4%	2.7%
$1,000,000 to $1,499,999	0.1%	1.5%
$1,500,000 to $1,999,999	0.1%	0.5%
$2,000,000 and over	0.2%	0.7%