Home Price Key
Affordable
Average
Expensive
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 $237,673, higher than the Michigan average of $196,062.
The average cost of rent is $1,133/mo in Farmington, primarily driven by the current value of real estate in the Farmington area. While nearly 33.50% of residents own their homes outright in Farmington, 40.51% rent.
Housing affordability isn’t just about home prices, though. The average household income in Farmington is $7,084 per month. Households that rent pay about 15.99% of their income on rent here. Farmington's most expensive areas are in the northwestern regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Farmington Hills, MI: higher priced homes
- Livonia, MI: equally priced homes
- Novi, MI: higher priced homes
- Franklin, MI: higher priced homes
- Northville, MI: higher priced homes
- Bingham Farms, MI: higher priced homes
- West Bloomfield, MI: higher priced homes
- Southfield, MI: less expensive homes
- Redford, MI: less expensive homes
- Walled Lake, MI: equally priced homes
Cities with Similar Populations
- California, MD: higher priced homes
- Willow Street, PA: higher priced homes
- Williamston, NC: less expensive homes
- Wickliffe, OH: less expensive homes
- Warrenton, MO: less expensive homes
- Wagoner, OK: less expensive homes
- Clinton, CT: higher priced homes
- Church Hill, TN: less expensive homes
- Cherryville, NC: less expensive homes
- Cedar Grove, NJ: higher priced homes
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