Sep 2026
$322K
+2.3% year-over-year
How it’s calculated
Rolling 3-month median sale price vs. same 3 months one year prior.
Farmington, NM housing market
Farmington, NM metro median sale price $322K in Sep 2026, up 2.3% year over year. Also days on market, price cuts, affordability and ZIP-code figures.
The median sale price in the Farmington, NM metro is $322K as of Sep 2026, up 2.3% from a year earlier. That change sits near the middle of the 383 U.S. metros Pecan Street ranks on this measure. FHFA's repeat-sales index for the metro shows a larger change, up 7.8% through Q2 2026, 5.5 points apart; Price reconciliation below shows both.
Farmington has the lowest median sale price of the four New Mexico metros Pecan Street tracks ($322K); Las Cruces ($325K) is next. Farmington has the fewest median days on market of the four New Mexico metros (52 days); Albuquerque (67 days) is next. Farmington has the lowest share of listings with a price cut of the four New Mexico metros (32%); Santa Fe (33%) is next.
Listings spent a median 52 days on market in Sep 2026, fewer than in most of the 385 metros. 32% of active listings carry a price cut, 0.7 points more than a year earlier. That share is lower than in most of the 385 metros.
At the 7.29% 30-year fixed rate with 20% down, principal and interest on a median-priced home come to $1,764 a month; at 28% of gross income, that takes about $76K a year. The median sale price equals about 17 years of HUD Fair Market Rent, a ratio down 0.1% from a year earlier. That ratio is higher than in most of the 373 metros. Active listings ask a median $202 per square foot, up 5.4% from a year earlier.
In two of the three ZIP codes in the table below, median list prices are higher than a year earlier; one is lower.
Headline
Oct 15, 2026
7.29%
30-year fixed
Where it comes from
National benchmark: Optimal Blue OBMMI 30-year conforming, via FRED. An average of rates borrowers have actually locked, updated daily.
The same rate appears on every market page.
Principal & interest
$1,764/mo
$76K/yr income needed
How it’s calculated
Payment — this market’s median sale price with 20% down, on a 30-year fixed loan at the rate shown. Principal and interest only — no property tax, insurance, PMI or HOA.
Income needed — that payment at 28% of gross income. A rule of thumb, not a lending decision.
How Farmington compares to other U.S. metros
| Price-to-rent | ↑89th of 373 (top 24%) |
|---|---|
| Price cuts | ↓277th of 385 |
| Days on market | ↓253rd of 385 |
| Home-price growth | 188th of 383 (top 50%) |
Rank across the U.S. metros Pecan Street tracks, on market data alone — a higher rank means more of that measure (more price cuts, faster price growth, a wider asking-vs-sale gap, a higher price-to-rent ratio, or more days on market). The bar shows where this metro sits within that metric’s own cohort (left is more, right is less); ↑ and ↓ mark the positions furthest from the middle, and rows are ordered the same way. Metrics without data for this metro are omitted.
Affordability
| Price-to-rent ratio | ≈ 17 -0.1% YoY ↑89th of 373 (top 24%) |
|---|---|
| Asking price / sq ft | $202 +5.4% YoY |
Price-to-rent divides the median sale price by the annual HUD Fair Market Rent (a 3-bedroom, 40th-percentile benchmark), so it is a directional rent-vs-buy read, not a cap rate; its year-over-year change is directional in the same way. Asking price per square foot is the median across active for-sale listings (Realtor.com), as of Sep 2026. The bar under a figure places this metro among the U.S. metros we track on that measure, highest first.
Market pressure
| Listings with a price cut | ≈ 32% +0.7 pts YoY ↓277th of 385 |
|---|
Price-cut share is the portion of active for-sale listings that have taken a price reduction (Realtor.com), as of Sep 2026. The bar under a figure places this metro among the U.S. metros we track on that measure, highest first.
Market facts
| ZIPs with listing data | 3 shown of 11 |
|---|---|
| MLS board of record | — |
| Price methodology | Redfin vs FHFA HPI |
| Data as of | Sep 2026 |
Recent signals
No signals flagged for this market right now.
Recent notable readings
- The FHFA house price index for the metro has risen 76% since Q1 2014: the 27th-smallest rebound of the 382 metros whose prices fell.
Readings from the latest data that sit at one end of the U.S. metros Pecan Street tracks, from the nightly cross-metro comparison. They are not signal alerts.
Price reconciliation
red · 5.5ppRedfin (metro) +2.3% | FHFA HPI · Q2 2026 +7.8% |
Year-over-year home-price change from two independent methods — Redfin (monthly sold price) and FHFA (quarterly repeat-sales index). When they diverge, the market is mid-shift; cite the figure with that in mind.
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Start free trialZIP-level data
| ZIP | Median list price | Active listings | New listings | Price reductions | Days on market | Home value |
|---|---|---|---|---|---|---|
| 87401 | $364K↑ | 70↑ | 34↑ | 28↑ | 49↓ | $270K↑ |
| 87402 | $462K↓ | 36↓ | 16↑ | 10↓ | 49↓ | $332K↑ |
| 87410 | $436K↑ | 30↑ | 10 | 10↑ | 53↑ | $273K↑ |
ZIP figures from Realtor.com listing data; home value from Zillow ZHVI. ZIP codes shown have the most complete listing-data history and active for-sale inventory in this metro; the latest available month is shown per ZIP. Arrows show the direction of each figure against the same three months a year earlier; no arrow means the change rounds to zero or the comparison isn't available.