A typical Farmington home is worth roughly $206,000
Home prices around Farmington have risen about 57% over the past 5 years.
What kind of housing town is Farmington?
Read from the numbers below. The page puts what stands out first.
What it takes to buy in Farmington
Try your own numbers below.
That covers a typical Farmington home, with $84K to spare.
A two-bedroom rents for about $1,060 a month here, $130 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the North Carolina typical property tax (0.66% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
Home prices up 57% in 5 years
The federal house price index for the ZIP code around Farmington rose 57% over the past 5 years, slower than across North Carolina (60%). Last year prices rose 4.8%.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Farmington, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A two-bedroom rents for about $1,060
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Iredell County, NC HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
80% of Farmington households own their home
Half of Farmington’s homes were built before 1966.
North Carolina: 67% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
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. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. 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.