Farmington, MN Real Estate
According to census data in the year 2000 there were 4,259 housing units in Farmington.
This represents a 100.5% growth from 2,124 in 1990.
Of those housing units, 4,125 were located in either urbanized areas or urban clusters, and 134 were located in what is classified as a rural area.
Homeownership rate in Farmington is about 87.9%.
Farmington's vacancy rate, including seasonal lodging, is about 1.6%.
Average household size is 2.96 people.
The majority of houses, apartments or condos in Farmington were built after 1990.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.40% |
| One Bedroom | 8.10% |
| Two Bedrooms | 19.80% |
| Three Bedrooms | 39.60% |
| Four Bedrooms | 27.40% |
| Five Bedrooms or more | 4.60% |
Owned Homes, Apartments and Condos
| Average Household Size | 3.14 |
| Median year structure was built | 1992 |
| Median Value of occupied units | $146,200 |
| Median Price asked for vacant units | $134,400 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.66 |
| Median year structure was built | 1975 |
| Median Monthly Rent asked for vacant units | $694 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.70% |
| Second Mortgage | 12.20% |
| Home Equity Loan | 19.50% |
| Simple Mortgage | 59.20% |
| Debt Free | 8.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 22.4% |
