Zip 87401 (Farmington, NM) Housing

The housing market in Farmington, NM (zip code 87401) is quite strong. The median value of a home in the area is $191,800, which is lower than the US median value of $338,100. However, the 1-year house appreciation rate for Farmington is 15.14%, higher than the 8.27% national average. This shows that homes in the area are increasing in value at a faster rate than other parts of the country and makes it an attractive option for potential buyers looking to buy or invest in real estate.

The median home cost in Farmington (zip 87401) is $191,800. Home appreciation the last 10 years has been 37.1%. Home Appreciation in Farmington (zip 87401) is up 13.4%.

Average Age of Homes

- The median age of Farmington (zip 87401) real estate is 38 years old

The Rental Market in Farmington (zip 87401)

- Renters make up 28.1% of the Farmington (zip 87401) population
- 4.7% of houses and apartments in Farmington (zip 87401), 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
	17,188.0	139,647,020.0
	38	42
	$191,800	$338,100
	13.4%	16.6%
	33.6%	57.0%
	37.1%	101.1%
	$6.35	$10.98
	$1,067	$2,690
	56.4%	57.4%
	11.2%	11.2%
	32.4%	31.4%
Vacant Housing
	4.7%	1.9%
	0.1%	0.4%
	1.8%	0.7%
	0.1%	0.4%
	0.6%	3.6%
	4.0%	4.1%
Value of Owner-Occupied Housing
	11.5%	2.6%
	6.1%	2.4%
	3.8%	2.8%
	2.3%	3.9%
	4.5%	4.5%
	13.0%	11.3%
	24.0%	13.0%
	22.6%	20.1%
	7.3%	13.6%
	1.9%	8.3%
	1.7%	9.7%
	0.9%	3.9%
	0.2%	2.2%
	0.1%	0.8%
	0.1%	1.1%
Housing Units by Year Structure Built
	0.1%	0.2%
	15.0%	13.6%
	15.0%	13.6%
	18.0%	13.6%
	17.0%	13.2%
	22.5%	14.8%
	18.0%	13.6%
	11.3%	10.0%
	2.4%	4.7%
	0.6%	12.2%

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