Farmington, MO—63640
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Farmington, MO
As of Oct '25, the median home price in Farmington, MO is $248,000, with a year-over-year change of 3.1%. This indicates that home prices in Farmington, MO are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $248,000 | 3.1% |
| Single Family | $249,000 | 2.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $129,000 | 0.8% |
2 Bed | $168,000 | 5.0% |
3 Bed | $252,000 | 3.7% |
4 Bed | $328,000 | 3.5% |
| 5 Bed | $439,000 | 3.1% |
% of Housing Stock
Rental Trends — Farmington, MO
As of July '25, Rentcast reports the average rent in Farmington, MO is $953, with a year-over-year rent change of 27.1%. Per bedroom, the median rent as of July '25 in Farmington, MO is 1-bedrooms: $756, 2-bedrooms: $968, 3-bedrooms: $1,170, 4-bedrooms: $1,700. The most common rental property sizes in Farmington, MO are 2-bedroom and 3-bedroom, accounting for 51.6% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $800 | $953 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $756 |
| 2 Bed Rent | $800 | $968 |
| 3 Bed Rent | $1,300 | $1,170 |
| 4 Bed Rent | $1,700 | $1,700 |
% of Rental Stock
Property Listings — Farmington, MO
As of Oct '25, Realtor.com reports that the median days on market for a home in Farmington, MO is 64. This is a increase of 10.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $299,000 | -2.0% |
Listing Count | 105 | 26.0% |
| Listings as % of Homes | 0.6% | 26.0% |
Days on Market | 64 | 10.0% |
Demographics — Farmington, MO
As of the latest ACS Survey released in 2023, Farmington, MO has a population of 28,800, which has decreased by -1.6% over the past 5 years. Farmington, MO is a moderately popular place for families, as children make up 20.3% of the population. The area has a poorly educated workforce, with 18.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,800 | -1.6% |
% Under 18 | 20.3% | 2.0% |
% Seniors | 18.7% | 9.4% |
% WFH | 7.1% | 108.8% |
% w/ College Degree | 18.0% | -5.3% |
As of the latest ACS Survey released in 2023, Farmington, MO is a predominantly white area, with 91.7% of the population identifying as white. The white population has grown by 0.1% in the last 5 years. The second most common race or ethnicity in Farmington, MO is black, making up 3.7% of the population. Foreign-born residents account for 2.2% of the population in Farmington, MO, and this percentage has increased by 46.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.7% | 0.1% |
% Black | 3.7% | -5.1% |
% Hispanic | 1.4% | -17.6% |
% Asian | 0.4% | -60.0% |
% Foreign Born | 2.2% | 46.7% |
Mortgage and Risk — Farmington, MO
According to HUD data as of 2023, there were 460 mortgage originations in Farmington, MO, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Farmington, MO. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 460 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Farmington, MO
Farmington, MO lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 402 |
Total Units Section 8 | 388 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 68.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$120 | $800 | $680 |
| 2 Bedroom | $90 | $800 | $890 |
| 3 Bedroom | -$130 | $1,300 | $1,170 |
| 4 Bedroom | -$460 | $1,700 | $1,240 |
Affordability — Farmington, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $248,000 |
| Median Household Income | $55,900 |