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These days, finding an affordable place to live in the Farmington area can be challenging. Home prices in Farmington are now at a median cost of $484,725, higher than the Connecticut average of $418,901.
The average cost of rent is $2,491/mo in Farmington, primarily driven by the current value of real estate in the Farmington area. In Farmington, 26.59% of households rent, and 39.68% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Farmington is $11,865 per month. Households that rent pay about 20.99% of their income on rent here. Farmington’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- River Glen, CT: higher priced homes
- Unionville, CT: less expensive homes
- Plainville, CT: less expensive homes
- New Britain, CT: less expensive homes
- Avon, CT: higher priced homes
- West Hartford, CT: less expensive homes
- Bristol, CT: less expensive homes
- Newington, CT: less expensive homes
- Burlington, CT: less expensive homes
- Weatogue, CT: equally priced homes
Cities with Similar Populations
- Linden, MI: less expensive homes
- Murphy, NC: less expensive homes
- Maple Shade, NJ: less expensive homes
- Manchester, MO: less expensive homes
- Madison, CT: higher priced homes
- Macomb, IL: less expensive homes
- Lowell, IN: less expensive homes
- Louisburg, NC: less expensive homes
- Los Fresnos, TX: less expensive homes
- Lockhart, TX: less expensive homes
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