Farmington, NM housing market
Typical home value
$283K
▲ 6.7% 1 yr
Typical rent
$1,535/mo
▲ 4.2% 1 yr
Gross rent yield
6.5%
U.S. 6.3%
5-year home value change
+42%
U.S. +20%
Key takeaways
- 1The typical home in Farmington is worth $282,854, up 6.7% over the past year and up 42% over five years.
- 2Typical rent is $1,535 a month (+4.2% YoY), a gross rent yield of 6.5% (above the Farmington, NM metro's 6.1%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,554/mo, $19 more than typical rent.
- 4Zillow forecasts the Farmington, NM metro's home values to change +3.2% over the next 12 months.
Market temperature (Farmington, NM metro)
Seller's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 59/100, #44 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Farmington compares
| Measure | Farmington | Farmington, NM metro | United States |
|---|---|---|---|
| Typical home value | $282,854 | $273,561 | $366,157 |
| Home value, 1-yr change | +6.7% | +6.8% | +1.2% |
| Typical rent | $1,535 | $1,399 | $1,932 |
| Rent, 1-yr change | +4.2% | +4.1% | +2.7% |
| Gross rent yield | 6.5% | 6.1% | 6.3% |
| Price-to-rent ratio | 15.4 | 16.3 | 15.8 |
| Mortgage P&I, typical home | $1,554 | $1,503 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Farmington rental, pre-filled.
Rent vs buy in Farmington
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $283K home.
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.