Farmington, NM Real Estate
According to census data in the year 2000 there were 15,045 housing units in Farmington.
This represents a 14.7% growth from 13,119 in 1990.
Of those housing units, 14,683 were located in either urbanized areas or urban clusters, and 362 were located in what is classified as a rural area.
Homeownership rate in Farmington is about 68.7%.
Farmington's vacancy rate, including seasonal lodging, is about 7.2%.
Average household size is 2.66 people.
The majority of houses, apartments or condos in Farmington were built after 1975.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 3% |
| One Bedroom | 9.60% |
| Two Bedrooms | 25.90% |
| Three Bedrooms | 48.20% |
| Four Bedrooms | 11.30% |
| Five Bedrooms or more | 2% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.72 |
| Median year structure was built | 1975 |
| Median Value of occupied units | $100,600 |
| Median Price asked for vacant units | $68,600 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.53 |
| Median year structure was built | 1974 |
| Median Monthly Rent asked for vacant units | $417 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.30% |
| Second Mortgage | 7.20% |
| Home Equity Loan | 5.10% |
| Simple Mortgage | 57.80% |
| Debt Free | 29.60% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 16.8% |
