Living in Farmington, Minnesota
Cost of living, income, home prices, rent and demographics of Farmington · Census data 2020–2024
Farmington has 23,902 residents with a median age of 35.4. The median household income is $123,673 (39% higher than the Minnesota median), the median home value is $366,200, the median rent is $1,241/month.
Farmington at a glance
- Population
- 23,902
- Median age
- 35.4State: 38.8
- Median household income
- $123,673State: $89,062
- Median home value
- $366,200State: $329,300
- Median rent
- $1,241/moState: $1,280
- Homeowners
- 86.5%
- Bachelor's degree or higher
- 38.7%
- Average commute
- 28 min
Is Farmington a good place to live?
Pros: Median household income 39% higher than the Minnesota median; unemployment of 3.4%; a poverty rate of 5.1%.
Cons: Home values 11% higher than the state median; an average commute of 28 minutes.
The weather is best in June to September.
Cost of living in Farmington
Housing is the biggest part of the cost of living. In Farmington the median home value is $366,200, 10% higher than the U.S. median. Renters pay a median of $1,241 per month, which is 30.1% of household income. Homeowners with a mortgage pay $2,175 a month in housing costs.
Farmington median household income
The median household income in Farmington is $123,673 and the income per person is $48,512. 5.1% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Farmington: homes for sale and rent
- Housing units
- 8,528
- Owner-occupied
- 86.5%
- Renter-occupied
- 13.5%
- Vacant
- 2.5%Includes seasonal homes
- Median year built
- 1998
- Average household size
- 2.85
Farmington demographics
- Population
- 23,902
- Median age
- 35.4
- Under 18
- 29.1%
- 65 and older
- 8.1%
- Households
- 8,313
- Foreign-born
- 4.4%
- Veterans
- 5.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Farmington ›
Education in Farmington
38.7% of adults 25 and older in Farmington have a bachelor's degree or higher (Minnesota: 39.4%), and 7.9% have a graduate or professional degree.
Jobs and commute in Farmington
- Unemployment rate
- 3.4%State: 4.1%
- Average commute
- 28 minState: 23 min
- Work from home
- 20.4%
- Drive alone
- 71.7%
- Public transit
- 0.3%
- Walk to work
- 0.9%
- Homes with broadband
- 97.4%
Farmington vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Farmington | 23,902 | $123,673 | $366,200 | $1,241 |
| Empire | 3,092 | $147,700 | $469,500 | $2,052 |
| Lakeville | 74,354 | $139,041 | $452,500 | $1,806 |
| Apple Valley | 55,679 | $97,673 | $370,400 | $1,738 |
| Rosemount | 27,562 | $129,625 | $424,100 | $1,640 |
| Coates | 131 | $82,250 | $240,000 | $1,146 |
| Hampton | 590 | $109,545 | $318,300 | $1,083 |
| Burnsville | 64,463 | $87,024 | $355,200 | $1,513 |
| Credit River | 5,551 | $143,125 | $595,000 | — |
More for people moving to Farmington
Farmington ZIP code ›Weather and climate ›Living in Farmington: FAQ
What is the median household income in Farmington, MN?
The median household income in Farmington is $123,673, 39% higher than the Minnesota median of $89,062 (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 $366,200, compared with $329,300 in Minnesota.
How much is rent in Farmington?
The median gross rent in Farmington is $1,241 per month, about 30.1% of household income.
Is Farmington, MN a good place to live?
Pluses: median household income 39% higher than the Minnesota median; unemployment of 3.4%; a poverty rate of 5.1%. Minuses: home values 11% higher than the state median; an average commute of 28 minutes.
What is the median age in Farmington?
The median age in Farmington is 35.4 years (Minnesota: 38.8).
How long is the commute in Farmington?
The average commute to work in Farmington is 28 minutes; 20.4% of workers work from home.
What is the unemployment rate in Farmington?
The unemployment rate in Farmington is 3.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Farmington?
38.7% 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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