Living in Farmington, MN
Farmington, MN combines suburban charm with convenient access to urban amenities, making it a desirable location for families. With excellent schools, abundant parks, and a strong local economy, residents benefit from a community-focused lifestyle balanced with proximity to the Twin Cities. Outdoor activities and community events are plentiful, enhancing the overall quality of life.
Current Market Conditions in Farmington, MN
The real estate market in Farmington, MN has been experiencing steady growth, with an increasing demand for housing due to its appealing lifestyle and strong schools. The market is competitive, with homes selling quickly, often above asking price in desirable neighborhoods.
In recent years, new developments have emerged, offering a variety of housing options ranging from single-family homes to townhouses, appealing to different buyer segments. Investors may find opportunities in both rental properties and new construction, as more families continue to move to this thriving area.
Home Value Estimator For Farmington, MN
There are currently 11,610 real estate properties
in Farmington, MN,
with a median automated valuation model (AVM) price
of $400,115.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Farmington, MN, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Farmington, MN,
is $415,345.00, with the most expensive house
in Farmington, MN, topping out
at $4,117,600.00 and the cheapest home
in Farmington, MN,
clocking in at $34,903.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Farmington, MN!
Rent Prices
In Farmington, MN
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Farmington, MN, is on
a rollercoaster ride. The
average rent price in Farmington, MN,
is $1,733.00. Indeed, when looking to rent in
Farmington, MN, you can expect to pay as little
as $810.00 or as much
as $4,060.00,
with the average rent median estimated to
be $1,680.00. The good news is that finding
an affordable and desirable property to rent in Farmington, MN
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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