Market Overview
Home Prices in Farmington, IA
The median home value in Farmington, IA is $140,510 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.8% compared to a year ago and up 3.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Farmington are priced66% below average. Farmington is part of the Fort Madison-Keokuk, IA-IL-MO metro area.
Over the past five years, Farmington home values have risen by approximately44.1%, reflecting strong long-term appreciation in this market.
Price History
Farmington Home Price Trend
City Comparison
Farmington vs. National Median
At $140,510, homes in Farmington cost 66% below the national median of $410,000. This makes Farmington a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Farmington?
20% Down Payment
$28,102
on $140,510
Monthly P&I
$733/mo
30-yr @ 6.8%
Total Monthly Est.
~$931/mo
incl. taxes & insurance
Income Needed
$37,240
gross annual (30% rule)
10% Down Option
$14,051
+ PMI applies
Loan Amount (20% dn)
$112,408
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Farmington, IA?
The median home value in Farmington is $140,510 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.8% year-over-year.
How much have home prices changed in Farmington?
Over the past year, home values in Farmington have increased by 5.8%. Over five years, prices have risen approximately 44.1%.
How much do I need to earn to buy a home in Farmington?
To comfortably afford the median home price of $140,510 with a 20% down payment ($28,102) at today's rates (6.8%), you'd need a gross annual income of approximately $37,240. This assumes keeping total housing costs at or below 30% of gross income.
How does Farmington compare to the national average home price?
The national median home value is approximately $410,000. At $140,510, homes in Farmington are 66% below the national average.
What metro area is Farmington part of?
Farmington is part of the Fort Madison-Keokuk, IA-IL-MO metropolitan area. Home prices and market conditions can vary across the broader metro region.