Farmington, MO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Farmington, MO Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Farmington Housing Market Information

With a population of 18,181, 6,426 total housing units (homes and apartments), and a median house value of $141,017, Farmington real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Farmington, accounting for 61.71% of the city's housing units. Other types of housing that are prevalent in Farmington include large apartment complexes or high rise apartments ( 20.51%), duplexes, homes converted to apartments or other small apartment buildings ( 7.74%), and a few mobile homes or trailers ( 5.80%).

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 45.13% owning and 54.87% 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 ( 21.37%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.22%). There's also some housing in Farmington built before 1939 ( 9.18%).

Farmington Home Appreciation Rates

Real estate appreciation rates in Farmington's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.40% during the period.

Appreciation rates are so strong in Farmington that despite a nationwide downturn in the housing market, Farmington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Farmington appreciation rates continue to be some of the highest in America, at 5.68%, which is higher than appreciation rates in 71.13% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Farmington. Farmington appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$141,017

Farmington, MO HOME PRICES

Value Range
> $1,075,000 0.0
$806,001 - $1,075,000 0.0
$538,001 - $806,000 1.1
$430,001 - $538,000 1.0
$323,001 - $430,000 2.9
$215,001 - $323,000 8.3
$108,001 - $215,000 45.8
$54,001 - $108,000 29.2
$0 - $54,000 11.8

High for MO
Average for Nation

Value Relative to Nation Value Relative to State
54.283370444158 35.6

Number Of Homes And Apartments:
6,426

Farmington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
17.91% 0.96% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$774 / per month

Homeownership Rate

Homeownership
Owners 45.13
Renters 54.87
Vacant 8.23

Housing Market Details

 

Age of Homes

AGE OF Farmington HOMES
2000 or Newer 21.4
1970 - 1999 53.2
1940 - 1969 16.2
1939 or Older 9.2

Types of Homes

TYPE OF Farmington HOMES
Single-Family 61.7
Townhomes 4.2
Small Apt. Buildings 7.7
Apt. Complexes 20.5
Mobile Homes 5.8
Other 0.0

Home Size

SIZE OF Farmington HOMES
No Bedroom 5.03
1 Bedroom 9.67
2 Bedrooms 28.66
3 Bedrooms 42.30
4 Bedrooms 10.31
5 or more bedrooms 4.03

Zip Codes in Farmington, MO