All Countries
Farmington, MN
Full City Profile · Minnesota · Dakota County County
3.7
/5.0
B+
Good
23,675
Population
1,526/sq mi density
$118,556
Median Income
$45,883 per capita
$345,100
Home Value
$394,322 Zillow
$1,275
Median Rent
34.3% income on rent
46°F
Avg Temperature
270 sunny days/yr
51
Violent Crime/100K
759 property/100K
B+
Overall
3.7 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
4.9 / 5.0
$118,556 median income, 2.8% unemployment
A+
Affordability
5.0 / 5.0
$345,100 home value, $1,275/mo rent
F
Safety
1.0 / 5.0
51 violent crimes/100K
A
Education
4.0 / 5.0
38.1% bachelor's degree or higher
Housing Overview
Median Home Value
$345,100
22% above
US avg: $281,900
Median Rent
$1,275/mo
10% above
US avg: $1,163/mo
Homeownership Rate
86.6%
32% above US avg (65.4%)
Total Housing Units
8,351
Median year built: 1997
Home Value by Source
Census Median
$345,100
Zillow (ZHVI)
$394,322
Median Sale Price
$357,000
Median List Price
$399,900
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
86.6%
Owner-Occupied
13.4%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$809/mo
1 Bedroom
$899/mo
2 Bedroom
$1,125/mo
3 Bedroom
$1,483/mo
4 Bedroom
$1,698/mo
Census median rent:
$1,275/mo
Market Indicators (Redfin)
Median Days on Market
75 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
26
Price Drops
33.3%
of listings with price reduction
Price Per Sq Ft
$192
Active Inventory
78
homes for sale
Affordability & Housing Stock
Rent Burden
34.3%
of renters spending 30%+ of income on housing
11% above US avg (31.0%)
Median Year Built
1997
Average age of housing stock: 29 years
Homeownership Rate
86.6%
Complete Housing Data
Home Values
| Census Median Value | $345,100 |
| Zillow Home Value (ZHVI) | $394,322 |
| Median Sale Price | $357,000 |
| Median List Price | $399,900 |
| Price Per Sq Ft | $192 |
Rent
| Census Median Rent | $1,275 |
| FMR Studio | $809 |
| FMR 1-Bedroom | $899 |
| FMR 2-Bedroom | $1,125 |
| FMR 3-Bedroom | $1,483 |
| FMR 4-Bedroom | $1,698 |
Market
| Days on Market | 75 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 33.3% |
| Homes Sold | 26 |
| Active Inventory | 78 |
| Price Per Sq Ft | $192 |
Ownership & Stock
| Owner-Occupied | 86.6% |
| Renter-Occupied | 13.4% |
| Homeownership Rate | 86.6% |
| Total Housing Units | 8,351 |
| Median Year Built | 1997 |
| Rent Burden | 34.3% |