Farmington
New Mexico · Ranked #109 of 373 metros
85Affordable
💡
Housing in Farmington costs 3.52× the median income, below the national average of 4.5×. The median home price is $202K and median rent is $965/month. Farmington ranks #109 of 373 metros for affordability.
Median Home Price
🏠$202K
Need $60K income
Median Rent
🔑$965
Need $39K income
Building Permits
🔨78
annual
Median Income
💰$57K
Pop: 107,955
Rent Burden
⚠️15.4%
of renters paying >30%
Homeownership
🏡73.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Farmington | National |
|---|---|---|
| Price-to-Income Ratio | 3.52x | 6.1x |
| Rent Burden | 15.4% | 31.5% |
| Homeownership Rate | 73.0% | 65.5% |
| YoY Rent Change | 0% | +2.8% |
| Mortgage Denial Rate | 0.0% | 13.5% |
| Eviction Rate | 0.0% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +60.5%Since 2000: +157%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$882/mo
1 Bedroom$885/mo
2 Bedroom$1,085/mo
3 Bedroom$1,509/mo
4 Bedroom$1,630/mo
Zillow Market Data
Home Value (ZHVI)
$263K
1yr: +2.6%5yr: +34.7%
Rent (ZORI)
$1,388/mo
1yr: +3.2%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$190K
Active Inventory
180
Days on Market
60
Sold Above List
18.8%
Price Drops
23.3%