Farmington, UT—84025
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Farmington, UT
As of Oct '25, the median home price in Farmington, UT is $676,000, with a year-over-year change of 4.4%. This indicates that home prices in Farmington, UT are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $676,000 | 4.4% |
| Single Family | $682,000 | 3.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $412,000 | 2.5% |
3 Bed | $536,000 | 4.5% |
4 Bed | $665,000 | 4.1% |
| 5 Bed | $835,000 | 3.6% |
% of Housing Stock
Rental Trends — Farmington, UT
As of July '25, Rentcast reports the average rent in Farmington, UT is $2,440, with a year-over-year rent change of 0.8%. Per bedroom, the median rent as of July '25 in Farmington, UT is studios: $1,250, 1-bedrooms: $1,480, 2-bedrooms: $1,810, 3-bedrooms: $2,400, 4-bedrooms: $2,360. The most common rental property sizes in Farmington, UT are 2-bedroom and 3-bedroom, accounting for 46.6% and 21.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,440 |
| Studio Rent | $1,250 | $1,250 |
| 1 Bed Rent | $1,350 | $1,480 |
| 2 Bed Rent | $1,950 | $1,810 |
| 3 Bed Rent | $2,400 | $2,400 |
| 4 Bed Rent | $2,400 | $2,360 |
% of Rental Stock
Property Listings — Farmington, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Farmington, UT is 102. This is a increase of 53.0% 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 | $794,000 | 1.0% |
Listing Count | 80 | 21.0% |
| Listings as % of Homes | 0.8% | 21.0% |
Days on Market | 102 | 53.0% |
Demographics — Farmington, UT
As of the latest ACS Survey released in 2023, Farmington, UT has a population of 25,100, which has increased by 7.8% over the past 5 years. Farmington, UT is a popular place for families, as children make up 34.9% of the population. The area has a highly educated workforce, with 50.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,100 | 7.8% |
% Under 18 | 34.9% | -2.2% |
% Seniors | 10.7% | 30.5% |
% WFH | 22.0% | 150.0% |
% w/ College Degree | 50.5% | 6.5% |
As of the latest ACS Survey released in 2023, Farmington, UT is a predominantly white area, with 86.6% of the population identifying as white. The white population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in Farmington, UT is hispanic, making up 6.9% of the population. Foreign-born residents account for 4.9% of the population in Farmington, UT, and this percentage has increased by 75.0% 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 | 86.6% | -5.7% |
% Black | 0.8% | 33.3% |
% Hispanic | 6.9% | 76.9% |
% Asian | 2.0% | 66.7% |
% Foreign Born | 4.9% | 75.0% |
Mortgage and Risk — Farmington, UT
According to HUD data as of 2023, there were 512 mortgage originations in Farmington, UT, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Farmington, UT. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 512 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Farmington, UT
As of 2024, the percent of homes in Farmington, UT under the Section 8 program is 5.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Farmington, UT, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 60 |
Total Units Section 8 | 60 |
% Rentals under Section 8 | 5.5% |
% Occupied Section 8 | 70.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $1,350 | $1,370 |
| 2 Bedroom | -$250 | $1,950 | $1,700 |
| 3 Bedroom | -$120 | $2,400 | $2,280 |
| 4 Bedroom | $360 | $2,400 | $2,760 |
Affordability — Farmington, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $676,000 |
| Median Household Income | $120,000 |