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 $294,101, higher than the Minnesota average of $269,934.
The average cost of rent is $1,397/mo in Farmington, primarily driven by the current value of real estate in the Farmington area. While nearly 20.04% of residents own their homes outright in Farmington, 11.19% rent.
Housing affordability isn’t just about home prices, though. The average household income in Farmington is $9,197 per month. Households that rent pay about 15.19% of their income on rent here. Farmington's most expensive areas are in the southeastern regions, while the cheapest areas are in the northeastern parts of the city.
Nearby Cities
- Lakeville, MN: higher priced homes
- Rosemount, MN: higher priced homes
- Apple Valley, MN: equally priced homes
- Castle Rock, MN: higher priced homes
- Coates, MN: higher priced homes
- Burnsville, MN: equally priced homes
- Hampton, MN: equally priced homes
- Vermillion, MN: higher priced homes
- Eagan, MN: equally priced homes
- Elko New Market, MN: higher priced homes
Cities with Similar Populations
- Deer Park, TX: less expensive homes
- Sulphur, LA: less expensive homes
- University City, MO: equally priced homes
- El Mirage, AZ: less expensive homes
- Desert Hot Springs, CA: less expensive homes
- Daphne, AL: less expensive homes
- Culpeper, VA: equally priced homes
- Cooper City, FL: higher priced homes
- Clemmons, NC: less expensive homes
- Cabo Rojo, PR: less expensive homes
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