Farmington, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Farmington Neighborhoods Since 2000




Farmington, NY 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 12,145, 2,461 total housing units (homes and apartments), and a median house value of $148,758, 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 65.14% of the town's housing units. Other types of housing that are prevalent in Farmington include large apartment complexes or high rise apartments ( 13.05%), mobile homes or trailers ( 8.10%), and a few row houses and other attached homes ( 7.25%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Farmington. Owner-occupied housing accounts for 72.37% of Farmington's homes, and 70.21% have either three or four bedrooms, which is average sized relative to America.

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 ( 23.22%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.17%). There's also some housing in Farmington built before 1939 ( 6.42%).

Farmington Home Appreciation Rates

Appreciation rates for homes in Farmington have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.02%, which ranks in the top 30% nationwide. This equates to an annual average Farmington house appreciation rate of 1.05%.

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 0.39%, 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 -0.57%, which equates to an annual appreciation rate of -2.26%.

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

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

Average Home Values

 

Median Home Value:
$148,758

Farmington, NY HOME PRICES

Value Range
> $1,047,000 0.0
$785,001 - $1,047,000 0.0
$524,001 - $785,000 0.3
$419,001 - $524,000 2.4
$314,001 - $419,000 5.4
$210,001 - $314,000 15.3
$105,001 - $210,000 58.5
$52,001 - $105,000 9.3
$0 - $52,000 8.9

Low for NY
Average for Nation

Value Relative to Nation Value Relative to State
50.5683815774054 60.7182940516274

Number Of Homes And Apartments:
2,461

Farmington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
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
40.96% 2.01% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,232 / per month

Homeownership Rate

Homeownership
Owners 72.37
Renters 27.63
Vacant 3.53

Housing Market Details

 

Age of Homes

AGE OF Farmington HOMES
2000 or Newer 23.2
1970 - 1999 61.2
1940 - 1969 9.2
1939 or Older 6.4

Types of Homes

TYPE OF Farmington HOMES
Single-Family 65.1
Townhomes 7.2
Small Apt. Buildings 6.5
Apt. Complexes 13.1
Mobile Homes 8.1
Other 0.0

Home Size

SIZE OF Farmington HOMES
No Bedroom 1.53
1 Bedroom 5.53
2 Bedrooms 19.83
3 Bedrooms 51.26
4 Bedrooms 18.94
5 or more bedrooms 2.89