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Farmington

Learn about the people, housing, costs and businesses in Farmington, California

Median Home$660,900
Median Rent$1,258/month
Population213
Leading IndustriesProfessional Services · Arts, Food & Hospitality · Healthcare4% professional services
Home Value Growth+3.2% over 2 years
Retirees22% of residentsnear the national average
Homeowners60% of occupied units
NotableHighly Educated34% bachelor's · 23% graduate · top 4% nationally
NotableHigh Incomes$103k/year · top 15% nationally
Farmington
CA

Frequently Asked Questions

What are today's mortgage rates in Farmington?

As of today, the 30-year fixed mortgage rate for Farmington is approximately 6.823% (6.856% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Farmington?

The median home value in Farmington is $661k. The median monthly rent is $1,258. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Farmington?

Home values in Farmington have increased 3.2% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Farmington?

Based on a typical all-in ownership cost of $1,567/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $67k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Farmington is $103k/year.

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What industries drive the economy in Farmington?

The largest employment sectors in Farmington are public administration (31%) and healthcare (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.