Market Overview
Home Prices in Farmington, KY
The median home value in Farmington, KY is $161,940 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 16% compared to a year ago and up 39.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Farmington are priced61% below average. Farmington is part of the Mayfield, KY metro area.
Over the past five years, Farmington home values have risen by approximately67.2%, reflecting strong long-term appreciation in this market.
Price History
Farmington Home Price Trend
City Comparison
Farmington vs. National Median
At $161,940, homes in Farmington cost 61% 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
$32,388
on $161,940
Monthly P&I
$845/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,073/mo
incl. taxes & insurance
Income Needed
$42,920
gross annual (30% rule)
10% Down Option
$16,194
+ PMI applies
Loan Amount (20% dn)
$129,552
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, KY?
The median home value in Farmington is $161,940 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 16% year-over-year.
How much have home prices changed in Farmington?
Over the past year, home values in Farmington have decreased by 16%. Over five years, prices have risen approximately 67.2%.
How much do I need to earn to buy a home in Farmington?
To comfortably afford the median home price of $161,940 with a 20% down payment ($32,388) at today's rates (6.8%), you'd need a gross annual income of approximately $42,920. 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 $161,940, homes in Farmington are 61% below the national average.
What metro area is Farmington part of?
Farmington is part of the Mayfield, KY metropolitan area. Home prices and market conditions can vary across the broader metro region.