Farmington appreciation rates and housing market information

Farmington housing market information

With 12,465 people, 2,901 houses or apartments, and a median cost of homes of $357,112, Farmington house prices are not only among the most expensive in Utah, Farmington real estate also is some of the most expensive in all of America.

Farmington is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Farmington than is found in 99.37% of the communities in America.

And, as is not surprising, these large homes are primarily owner-occupied (82.21%).

There is a lot of housing in Farmington built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Farmington built from 1995 and later (18.44%). A lesser amount of the housing stock also hails from 1940-1969 (14.99%), and some were built from 1939 and earlier (14.99%).

Farmington home appreciation rates

Real estate appreciation rates in Farmington have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.33% during the period.

NeighborhoodScout's data show that during the latest twelve months, Farmington home appreciation rates, at -0.33%, have been at or slightly above the national average. In the latest quarter, Farmington's appreciation rate has been -0.61%, which annualizes to a rate of -2.44%.

Notably, Farmington's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Utah, our data show that Farmington's latest annual appreciation rate is higher than 79% of the other cities and towns in Utah.