The story of this market
The typical home in Farmington, New Mexico sells for about $338,797, or $232 per square foot.
Prices are up +19.9% from a year ago, so sellers still have some momentum. Homes take about 27 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,100 a month.
Monthly price momentum
Home values since 2015
+3.3%
NM · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Farmington, New Mexico
Farmington's housing market is showing signs of competitive growth, with a 19.9% year-over-year increase in median sale prices as of May 2026. While inventory remains relatively tight, the market is experiencing increased investor interest, particularly in the rental sector. Note that several specific metrics, such as exact median household income and property tax rates, were not available at the city-limit level in the current reporting period.
No ARED county foreclosure postings attributed to Farmington yet — the verified ledger covers every county the foreclosure ingest has read, attributed by published city area. Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.
Deterministic aggregate of 2 researched ZIP reports — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Median prices moved up 1.5% year over year.
Homes spend a median of 68 days on market with 4.3 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 97.69% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) — a stable, low-distress profile.
The amenity base that shapes daily life and property demand in this city — what residents actually live with, and what the pipeline is adding.
A multi-use trail system that provides significant recreational access along the river, enhancing local quality of life and property appeal.
A major community park offering green space and river access, serving as a central hub for outdoor activities.
A key regional institution that provides educational and economic stability to the city.
The primary retail anchor for the city, serving as a central commercial destination for residents.
A venue for community events and gatherings that supports local social and cultural engagement.
Farmington is well-suited for family buyers seeking affordability relative to national averages and investors looking for emerging opportunities in the short-term rental space. The city's stable occupancy rates and recent price appreciation make it a viable option for those prioritizing long-term value over rapid urban growth.
The rental market shows signs of investor interest with a 111% year-over-year growth in listing counts, though occupancy remains stable. Short-term rental data indicates an average annual revenue of approximately $17,909 with a 42.8% occupancy rate.
The local economy is anchored by education and retail, with San Juan College serving as a major institutional employer. Recent trends show a shift toward increased investment in the hospitality and short-term rental sectors.
The city is currently focused on the Downtown Revitalization Project, which aims to modernize infrastructure and improve the commercial appeal of the central business district.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (New Mexico) — New Mexico Ad Valorem Property Tax: Tax is calculated by applying a tax rate (expressed in mills) to the net taxable value. The net taxable value is defined as one-third (33.33%) of the taxable value of the property.
Data retrieved from U.S. Census Bureau QuickFacts and Census Reporter.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.