Farmington, MO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Farmington, MO Real Estate Data


Farmington Housing Market Information

With a population of 18,181, 6,187 total housing units (homes and apartments), and a median house value of $114,700, house prices in Farmington are solidly below the national average.

Single-family detached homes are the single most common housing type in Farmington, accounting for 60.65% of the city's housing units. Other types of housing that are prevalent in Farmington include large apartment complexes or high rise apartments ( 19.88%), duplexes, homes converted to apartments or other small apartment buildings ( 8.09%), and a few mobile homes or trailers ( 5.95%).

The most prevalent building size and type in Farmington are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.94% owning and 55.06% renting.

There is a lot of housing in Farmington built from 1970 to 1999 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 between 2000 and later ( 19.18%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.79%). There's also some housing in Farmington built before 1939 ( 8.44%).

Farmington Home Appreciation Rates

Farmington's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Farmington during the period has been just -0.82%, which is lower than 70% of US communities.

Over the last year, Farmington appreciation rates have trailed the rest of the nation. In the last twelve months, Farmington's appreciation rate has been 3.34%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Farmington were at 0.50%, which equates to an annual appreciation rate of 2.00%.

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

Relative to Missouri, our data show that Farmington's latest annual appreciation rate is lower than 80% of the other cities and towns in Missouri.

Average Home Values

 

Median Home Value:
$114,700

Farmington, MO HOME PRICES

Value Range
> $996,000 0.0
$747,001 - $996,000 0.1
$498,001 - $747,000 1.5
$398,001 - $498,000 0.9
$299,001 - $398,000 1.6
$199,001 - $299,000 8.2
$99,001 - $199,000 43.4
$50,001 - $99,000 28.9
$0 - $50,000 15.3

Average for MO
Low for Nation

Value Relative to Nation Value Relative to State
69.432570123558 55.0

Number Of Homes And Apartments:
6,187

Rent & Ownership

 

Average Market Rent:
$864 / per month

Homeownership Rate

Homeownership
Owners 44.94
Renters 55.06
Vacant 8.37

Housing Market Details

 

Age of Homes

AGE OF Farmington HOMES
2000 or Newer 19.2
1970 - 1999 54.6
1940 - 1969 17.8
1939 or Older 8.4

Types of Homes

TYPE OF Farmington HOMES
Single-Family 60.6
Townhomes 5.4
Small Apt. Buildings 8.1
Apt. Complexes 19.9
Mobile Homes 6.0
Other 0.0

Home Size

SIZE OF Farmington HOMES
No Bedroom 5.81
1 Bedroom 10.01
2 Bedrooms 29.83
3 Bedrooms 40.18
4 Bedrooms 10.19
5 or more bedrooms 3.98

Farmington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
12.13% 0.68% 1 1
* 10 is highest

Zip Codes in Farmington, MO