Farmington, CT—06085
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Farmington, CT
Home Price Trends — Farmington, CT
As of Oct '25, the median home price in Farmington, CT is $460,000, with a year-over-year change of 3.7%. This indicates that home prices in Farmington, CT are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $460,000 | 3.7% |
| Single Family | $489,000 | 4.5% |
| Condos | $246,000 | 6.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $267,000 | 6.0% |
3 Bed | $429,000 | 3.9% |
4 Bed | $635,000 | 4.4% |
| 5 Bed | $731,000 | 5.2% |
% of Housing Stock
Rental Trends — Farmington, CT
Farmington, CT lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,450 | $2,560 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,800 | $1,880 |
| 3 Bed Rent | $2,450 | $2,780 |
| 4 Bed Rent | $3,000 | $3,220 |
% of Rental Stock
Property Listings — Farmington, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Farmington, CT is 33. This is a increase of 2.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $395,000 | 4.0% |
Listing Count | 16 | 12.0% |
| Listings as % of Homes | 0.3% | 12.0% |
Days on Market | 33 | 2.0% |
Demographics — Farmington, CT
As of the latest ACS Survey released in 2023, Farmington, CT has a population of 7,520, which has remained stable by -0.4% over the past 5 years. Farmington, CT is a moderately popular place for families, as children make up 24.1% of the population. The area has a highly educated workforce, with 65.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,520 | -0.4% |
% Under 18 | 24.1% | 3.4% |
% Seniors | 16.3% | 19.9% |
% WFH | 22.7% | 345.1% |
% w/ College Degree | 65.7% | 24.7% |
As of the latest ACS Survey released in 2023, Farmington, CT is a predominantly white area, with 68.6% of the population identifying as white. The white population has shrunk by 14.8% in the last 5 years. The second most common race or ethnicity in Farmington, CT is asian, making up 18.7% of the population. Foreign-born residents account for 18.4% of the population in Farmington, CT, and this percentage has decreased by 4.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 68.6% | -14.8% |
% Black | 1.6% | 166.7% |
% Hispanic | 7.8% | 39.3% |
% Asian | 18.7% | 58.5% |
% Foreign Born | 18.4% | -4.2% |
Mortgage and Risk — Farmington, CT
According to HUD data as of 2023, there were 146 mortgage originations in Farmington, CT, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Farmington, CT. Investor activity is low, as 2.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 146 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Farmington, CT
Farmington, CT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 124 |
Total Units Section 8 | 104 |
% Rentals under Section 8 | 18.6% |
% Occupied Section 8 | 93.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,280 |
| 2 Bedroom | -$180 | $1,800 | $1,620 |
| 3 Bedroom | -$500 | $2,450 | $1,950 |
| 4 Bedroom | -$680 | $3,000 | $2,320 |
Affordability — Farmington, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $460,000 |
| Median Household Income | $145,000 |