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Farmington, NM Home Values and Rents
The typical home value in Farmington is $282,854, 60th highest of 150 cities and towns in New Mexico. Median rent is $1,535 a month.
- Typical home value
- $282,854
- 60th of 150 in NM
- Median rent
- $1,535/mo
- Zillow observed rent
- Price change, 1 year
- +6.7%
- Sep 2026
- Homeownership
- 66.2%
- NM: 70.0%
Typical home value in Farmington
Zillow Home Value Index, all homes, middle tier
Show as a table
| Period | Farmington |
|---|---|
| Sep 2026 | $282,854 |
| Dec 2025 | $271,538 |
| Dec 2024 | $264,988 |
| Dec 2023 | $247,402 |
| Dec 2022 | $229,832 |
| Dec 2021 | $206,560 |
| Dec 2020 | $190,668 |
| Dec 2019 | $185,469 |
| Dec 2018 | $178,075 |
| Dec 2017 | $174,567 |
| Dec 2016 | $171,509 |
| Dec 2015 | $171,463 |
| Dec 2014 | $172,523 |
| Dec 2013 | $160,198 |
| Dec 2012 | $159,306 |
Over five years, Farmington prices changed +41.7%.
Source: Zillow Research · Last updated 09/01/2026
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Home values by ZIP code
Median home value and rent (ACS 2020-2024); price changes from the FHFA annual ZIP index
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Fair Market Rents, FY2027
HUD rent standard for Farmington, NM MSA
| Unit size | Monthly rent | vs FY2026 |
|---|---|---|
| Studio | $850 | -3.6% |
| 1 bedroom | $855 | -3.4% |
| 2 bedrooms | $1,116 | +2.9% |
| 3 bedrooms | $1,545 | +2.4% |
| 4 bedrooms | $1,673 | +2.6% |
Frequently asked questions
- What is the typical home value in Farmington, NM?
- The typical home value in Farmington is $282,854 (Zillow Home Value Index, Sep 2026). The New Mexico median is $248,100.
- How much is rent in Farmington?
- The median rent in Farmington is $1,535 a month (Zillow Observed Rent Index). HUD's FY2027 Fair Market Rent for a two-bedroom unit is $1,116.
- Are home prices going up in Farmington?
- The typical home value in Farmington changed +6.7% over one year and +41.7% over five years, as of Sep 2026.
- How does Farmington compare with the rest of New Mexico?
- Farmington has the 60th highest median home value of 150 cities and towns with 1,000+ residents in New Mexico.
- Which ZIP code in Farmington has the highest home values?
- ZIP code 87402 has the highest median home value at $284,200, and 87401 has the lowest at $215,300.