Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 14,760 people, 5,509 houses or apartments, and a median cost of homes of $295,262, Farmington real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Farmington, accounting for 57.50% of the town's housing units. Other types of housing that are prevalent in Farmington include large apartment complexes or high rise apartments ( 15.32%), row houses and other attached homes ( 12.94%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.86%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Farmington. Owner-occupied housing accounts for 68.87% of Farmington's homes, and 69.05% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Farmington built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Farmington built between 2000 and later ( 28.93%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.16%). There's also some housing in Farmington built before 1939 ( 5.73%).
Real estate appreciation rates in Farmington's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.52% during the period.
NeighborhoodScout's data show that during the latest twelve months, Farmington's appreciation rate, at 10.06%, has been at or slightly above the national average. In the latest quarter, Farmington's appreciation rate has been -2.37%, which annualizes to a rate of -9.14%.
Notably, Farmington's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Farmington's latest annual appreciation rate is lower than 60% of the other cities and towns in New York.
$295,262
for New york
for nation
5,509
$2,150 / per month