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Featured local agent — Farmington, MN
Sarah Mitchell
Compass Real Estate · Farmington, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Farmington, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$405,000median sale price
How is the Farmington, MN housing market right now?
The median home sale price in Farmington, MN is $405,000, up 14.4% year-over-year. Homes sell in an average of 24 days with 99 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Farmington a buyer's or seller's market?
Farmington, MN is currently a balanced market, based on 3.4 months of supply and homes selling in about 24 days. How we determine this →
Homes sold
29
Last 12 weeks
Days on market
24
Average pace
Active listings
99
3.4 months supply
Sale-to-list
99.8%
Below asking
What does the Farmington housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $405,000 |
| Median list price | $407,450 |
| Year-over-year price change | +14.4% |
| Average days on market | 24 days |
| Active inventory | 99 listings |
| Months of supply | 3.4 months |
| Sale-to-list price ratio | 99.8% |
| Median price per sq ft | $184/sq ft |
| Homes sold (latest month) | 29 |
| New listings (latest month) | 63 |
| Listings with a price cut | 35.4% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Farmington by property type?
How the Farmington, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $455,000 | $189/sq ft | 23 | 24 days |
| Condo / Co-op | $214,900 | $219/sq ft | 1 | 24 days |
| Townhouse | $225,000 | $168/sq ft | 5 | 40 days |
Source: Redfin · Updated monthly
The Farmington housing market is currently classified as a balanced market with a median sale price of $405,000. Prices have risen 14.4% compared to last year, with homes spending an average of 24 days on market, indicating 3.4 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.4x provides context for how home values compare to local earning capacity.
Homes for sale in Farmington
There are currently 99 homes listed for sale in Farmington, Minnesota. The median listing price is $407K.
Active listings
99
Homes on market
Median list price
$407K
Avg. days on market
24
Days until sale
New this week
63
Newly listed
Who lives in Farmington?
Population
23,675
Median income
$118,556/yr
Median age
35.6 years
Owner-occupied
86.6%
College grads
38.1%
Avg commute
27.5 min
Source: U.S. Census Bureau ACS
What are homes worth in Farmington?
Zillow home value
$406,892
Zillow rent index
$1,851/mo
Price-to-rent ratio
18.3x
Price-to-income
3.4x
Source: Zillow Research
What is it like to live in Farmington?
Farmington is a community of approximately 24K residents with a median age of 35.6 years.The median household income is $118,556, which reflects a relatively affluent area with strong earning potential. 38.1% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 86.6%, reflecting strong community stability and long-term resident commitment. The average commute time is 27.5 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Farmington offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Farmington?
13 schools tracked · 7,015 students
The largest public schools serving Farmington, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
FARMINGTON HIGH SCHOOL
Grades 9-12 · 2,196 students
ROBERT BOECKMAN MIDDLE SCHOOL
Grades 6-8 · 867 students
LEVI P. DODGE MIDDLE SCHOOL
Grades 6-8 · 687 students
MEADOWVIEW ELEMENTARY
Grades PK-5 · 621 students
NORTH TRAIL ELEMENTARY
Grades PK-5 · 609 students
RIVERVIEW ELEMENTARY
Grades PK-5 · 585 students
FARMINGTON ELEMENTARY
Grades PK-5 · 545 students
AKIN ROAD ELEMENTARY
Grades PK-5 · 520 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Farmington, MN?
Want a head-to-head view? Compare Farmington side-by-side with any other U.S. city using our market-comparison tool.
Is Farmington a good real estate investment market?
For investors evaluating Farmington, the price-to-rent ratio of 18.3x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 14.4% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Farmington's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Farmington's median home price.
Frequently asked questions
What is the average home price in Farmington?
The median home sale price in Farmington is $405,000, up 14.4% from last year.
How long do homes stay on market in Farmington?
Homes typically spend 24 days on market before going under contract.
What is the median income in Farmington?
The median household income is $118,556 per year.
Is Farmington a buyer's or seller's market?
With 3.4 months of supply, Farmington is currently a balanced market.
What is the Zillow home value estimate for Farmington?
The Zillow Home Value Index (ZHVI) for Farmington is $406,892, representing the typical home value in the area.
What is the median condo price in Farmington?
The median condo/co-op sale price in Farmington, MN is $214,900, compared to $455,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Farmington?
The median single-family home price in Farmington, MN is $455,000 (about $189 per square foot).
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