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Farmington, MI
Full City Profile · Michigan · Wayne County County
4.0
/5.0
A
Great
11,472
Population
4,313/sq mi density
$94,115
Median Income
$53,845 per capita
$273,000
Home Value
$320,055 Zillow
$1,299
Median Rent
21.3% income on rent
48°F
Avg Temperature
260 sunny days/yr
57
Violent Crime/100K
784 property/100K
A
Overall
4.0 / 5.0
Strong
A+
Economy
4.8 / 5.0
$94,115 median income, 2.3% unemployment
A+
Affordability
5.0 / 5.0
$273,000 home value, $1,299/mo rent
F
Safety
1.0 / 5.0
57 violent crimes/100K
A+
Education
5.0 / 5.0
60.8% bachelor's degree or higher
Housing Overview
Median Home Value
$273,000
3% below
US avg: $281,900
Median Rent
$1,299/mo
12% above
US avg: $1,163/mo
Homeownership Rate
64.5%
1% below US avg (65.4%)
Total Housing Units
5,484
Median year built: 1967
Home Value by Source
Census Median
$273,000
Zillow (ZHVI)
$320,055
Median Sale Price
$331,000
Median List Price
$329,900
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
64.5%
Owner-Occupied
35.5%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$807/mo
1 Bedroom
$891/mo
2 Bedroom
$1,113/mo
3 Bedroom
$1,419/mo
4 Bedroom
$1,588/mo
Census median rent:
$1,299/mo
Market Indicators (Redfin)
Median Days on Market
49 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
7
Price Drops
11.1%
of listings with price reduction
Price Per Sq Ft
$210
Active Inventory
18
homes for sale
Affordability & Housing Stock
Rent Burden
21.3%
of renters spending 30%+ of income on housing
31% below US avg (31.0%)
Median Year Built
1967
Average age of housing stock: 59 years
Homeownership Rate
64.5%
Complete Housing Data
Home Values
| Census Median Value | $273,000 |
| Zillow Home Value (ZHVI) | $320,055 |
| Median Sale Price | $331,000 |
| Median List Price | $329,900 |
| Price Per Sq Ft | $210 |
Rent
| Census Median Rent | $1,299 |
| FMR Studio | $807 |
| FMR 1-Bedroom | $891 |
| FMR 2-Bedroom | $1,113 |
| FMR 3-Bedroom | $1,419 |
| FMR 4-Bedroom | $1,588 |
Market
| Days on Market | 49 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 11.1% |
| Homes Sold | 7 |
| Active Inventory | 18 |
| Price Per Sq Ft | $210 |
Ownership & Stock
| Owner-Occupied | 64.5% |
| Renter-Occupied | 35.5% |
| Homeownership Rate | 64.5% |
| Total Housing Units | 5,484 |
| Median Year Built | 1967 |
| Rent Burden | 21.3% |