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 $181,626, lower than the New Mexico average of $199,923.
The average cost of rent is $1,032/mo in Farmington, primarily driven by the current value of real estate in the Farmington area. While nearly 44.43% of residents own their homes outright in Farmington, 33.28% rent.
Housing affordability isn’t just about home prices, though. The average household income in Farmington is $4,839 per month. Households that rent pay about 21.32% 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.
Nearby Cities
- DeSmet, NM: equally priced homes
- Tinian, NM: less expensive homes
- Lee Acres, NM: less expensive homes
- Napi Headquarters, NM: less expensive homes
- Flora Vista, NM: less expensive homes
- Kirtland, NM: less expensive homes
- Fruitland, NM: less expensive homes
- Bloomfield, NM: less expensive homes
- Aztec, NM: less expensive homes
- Cedar Hill, NM: equally priced homes
Cities with Similar Populations
- Murrells Inlet, SC: higher priced homes
- McKeesport, PA: less expensive homes
- Meadville, PA: less expensive homes
- Mercer Island, WA: higher priced homes
- Milford Mill, MD: higher priced homes
- Montrose Heights, VA: higher priced homes
- Morton Grove, IL: higher priced homes
- Moss Point, MS: less expensive homes
- Mount Holly, NC: higher priced homes
- Mount Holly, NJ: higher priced homes
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