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These days, finding an affordable place to live in the Farwell area can be challenging. Home prices in Farwell are now at a median cost of $156,739, lower than the Michigan average of $250,415.
The average cost of rent is $837/mo in Farwell, primarily driven by the current value of real estate in the Farwell area. In Farwell, 10.88% of households rent, and 43.05% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Farwell is $5,150 per month. Households that rent pay about 16.25% of their income on rent here. Farwell’s most expensive areas are in the northeastern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
- Monson, MA: higher priced homes
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- Montpelier, OH: less expensive homes
- Montevideo, MN: equally priced homes
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