Zip 87402 (Farmington, NM) Housing

Farmington, NM is a great place to buy a house. The median value of housing in 87402 Farmington, NM is $257,000, which is much lower than the US house median value of $338,100. Furthermore, the 1 year appreciation rate for housing in the area is 15.14%, which is higher than the national average of 8.27%. These factors make Farmington an attractive market for buyers wanting to invest in property or purchase a new home.

The median home cost in Farmington (zip 87402) is $257,000. Home appreciation the last 10 years has been 37.1%. Home Appreciation in Farmington (zip 87402) is up 13.4%.

Average Age of Homes

- The median age of Farmington (zip 87402) real estate is 32 years old

The Rental Market in Farmington (zip 87402)

- Renters make up 16.5% of the Farmington (zip 87402) population
- 4.6% of houses and apartments in Farmington (zip 87402), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Farmington, New Mexico	United States
	3,933.0	139,647,020.0
	34	42
	$257,000	$338,100
	13.4%	16.6%
	33.6%	57.0%
	37.1%	101.1%
	$7.04	$10.98
	$1,616	$2,690
	67.5%	57.4%
	10.8%	11.2%
	21.7%	31.4%
Vacant Housing
	4.6%	1.9%
	0.6%	0.4%
	1.3%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	4.2%	4.1%
Value of Owner-Occupied Housing
	7.0%	2.6%
	1.0%	2.4%
	1.1%	2.8%
	0.5%	3.9%
	2.5%	4.5%
	6.9%	11.3%
	22.6%	13.0%
	29.3%	20.1%
	13.7%	13.6%
	8.4%	8.3%
	5.7%	9.7%
	0.9%	3.9%
	0.0%	2.2%
	0.3%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	24.0%	13.6%
	24.0%	13.6%
	15.1%	13.6%
	15.5%	13.2%
	23.1%	14.8%
	15.1%	13.6%
	8.2%	10.0%
	0.3%	4.7%
	1.0%	12.2%

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