Living in Farmington, Iowa
Cost of living, income, home prices, rent and demographics of Farmington · Census data 2020–2024
Farmington has 540 residents with a median age of 49. The median household income is $53,333 (29% lower than the Iowa median), the median home value is $81,400, the median rent is $713/month.
Farmington is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Farmington at a glance
- Population
- 540
- Median age
- 49State: 38.6
- Median household income
- $53,333State: $75,059
- Median home value
- $81,400State: $208,000
- Median rent
- $713/moState: $972
- Homeowners
- 79.7%
- Bachelor's degree or higher
- 10.4%
- Average commute
- 23 min
Is Farmington a good place to live?
Pros: Home values 61% lower than the state median; unemployment of 0.8%.
Cons: Median household income 29% lower than the Iowa median; an average commute of 23 minutes; a poverty rate of 16.3%.
The weather is best in May–June and August–September.
Cost of living in Farmington
Housing is the biggest part of the cost of living. In Farmington the median home value is $81,400, 76% lower than the U.S. median. Renters pay a median of $713 per month, which is 29.3% of household income. Homeowners with a mortgage pay $950 a month in housing costs.
Farmington median household income
The median household income in Farmington is $53,333 and the income per person is $30,281. 16.3% of residents live below the poverty line (Iowa: 11.1%).
Housing in Farmington: homes for sale and rent
- Housing units
- 292
- Owner-occupied
- 79.7%
- Renter-occupied
- 20.3%
- Vacant
- 12.3%Includes seasonal homes
- Median year built
- 1955
- Average household size
- 2.11
Farmington demographics
- Population
- 540
- Median age
- 49
- Under 18
- 22%
- 65 and older
- 28.5%
- Households
- 256
- Foreign-born
- 1.1%
- Veterans
- 13.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Farmington ›
Education in Farmington
10.4% of adults 25 and older in Farmington have a bachelor's degree or higher (Iowa: 31.4%), and 3.8% have a graduate or professional degree.
Jobs and commute in Farmington
- Unemployment rate
- 0.8%State: 3.6%
- Average commute
- 23 minState: 20 min
- Work from home
- 5.8%
- Drive alone
- 67.1%
- Public transit
- 1.6%
- Walk to work
- 9.5%
- Homes with broadband
- 85.2%
Farmington vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Farmington | 540 | $53,333 | $81,400 | $713 |
| Bonaparte | 302 | $40,909 | $69,600 | $492 |
| Donnellson | 776 | $54,453 | $147,800 | $644 |
| Keosauqua | 914 | $51,136 | $98,500 | $480 |
| Hillsboro | 120 | $53,125 | $55,000 | $850 |
| Medill | 104 | $152,857 | $228,600 | — |
| Kahoka | 2,072 | $48,370 | $100,000 | $536 |
| Luray | 181 | $57,321 | $61,700 | — |
| Stockport | 210 | $53,125 | $57,500 | $631 |
More for people moving to Farmington
Farmington ZIP code ›Weather and climate ›Living in Farmington: FAQ
What is the median household income in Farmington, IA?
The median household income in Farmington is $53,333, 29% lower than the Iowa median of $75,059 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Farmington?
The median home value in Farmington is $81,400, compared with $208,000 in Iowa.
How much is rent in Farmington?
The median gross rent in Farmington is $713 per month, about 29.3% of household income.
Is Farmington, IA a good place to live?
Pluses: home values 61% lower than the state median; unemployment of 0.8%. Minuses: median household income 29% lower than the Iowa median; an average commute of 23 minutes; a poverty rate of 16.3%.
What is the median age in Farmington?
The median age in Farmington is 49 years (Iowa: 38.6).
How long is the commute in Farmington?
The average commute to work in Farmington is 23 minutes; 5.8% of workers work from home.
What is the unemployment rate in Farmington?
The unemployment rate in Farmington is 0.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Farmington?
10.4% of adults in Farmington have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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