A typical Farmington home is worth about $140,000
Up 4.7% in a year, 41% below the Iowa typical home.
What kind of housing town is Farmington?
Read from the numbers below. The page puts what stands out first.
A typical home costs 2.6 years of income
Less than across Iowa (3.2 years). Try your own numbers below.
That covers a typical Farmington home, with $59K to spare.
A two-bedroom rents for about $970 a month here, $100 more than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Farmington’s typical property tax (1.17% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
80% of Farmington households own their home
Half of Farmington’s homes were built before 1955.
Iowa: 72% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
Up 42.2% in five years
Faster than Iowa (26.1%).
Show as a table
| January | Farmington | Iowa |
|---|---|---|
| 2020 | $85,000 | $167,000 |
| 2021 | $93,000 | $179,000 |
| 2022 | $101,000 | $195,000 |
| 2023 | $111,000 | $211,000 |
| 2024 | $121,000 | $218,000 |
| 2025 | $132,000 | $228,000 |
| 2026 | $133,000 | $236,000 |
| August 2026 | $140,000 | $240,000 |
A typical Farmington home worth $78K in February 2019 is worth about $140K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through August 2026.
A two-bedroom rents for about $970
Renters already here pay a median of $713, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lee County, IA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
No new homes permitted in 2025
No permits for new homes were issued in Farmington in 2025. The last year with any was 2018 (1 new home).
Between the 2010 and 2020 censuses, Farmington's population fell by 85 even though 3 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Iowa: 1.3 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 1 | 1 | 0 | $150,000 |
| 2017 | 1 | 1 | 0 | $150,000 |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 1 | 1 | 0 | $120,000 |
| 2009 | 1 | 1 | 0 | $120,000 |
| 2008 | 1 | 1 | 0 | $120,000 |
| 2007 | 0 | 0 | 0 | — |
| 2006 | 0 | 0 | 0 | — |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 0 | 0 | 0 | — |
| 2003 | 2 | 2 | 0 | $99,000 |
| 2002 | 0 | 0 | 0 | — |
| 2001 | 0 | 0 | 0 | — |
| 2000 | 0 | 0 | 0 | — |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Neighbors talk housing
What Farmington buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.