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What to Know About
Life in Farmington & Beyond
Farmington shares many of the great qualities that make New Mexico a desirable place to live.
New Mexico, known as the "Land of Enchantment," boasts a rich cultural heritage, stunning desert landscapes, and thriving arts and outdoor recreation. Learn about the state's fascinating history by visiting ancient Native American ruins, such as the remarkable Chaco Canyon and Aztec Ruins, or experience modern art museums, including the world-renowned Harwood Museum of Art and the Museum of International Folk Art. The state is also home to several prestigious universities, including New Mexico State University and the University of New Mexico.
Outdoor enthusiasts will find no shortage of opportunities for adventure in New Mexico, with endless options for hiking, camping, and skiing in the Sandia and Sacramento Mountains, as well as fishing and boating in Lake Powell and Elephant Butte Lake. In addition, be sure to explore some of the most iconic landscapes in the country, including the magnificent Carlsbad Caverns National Park and White Sands National Monument, and experience the historic charm of Taos.
New Mexico's unique blend of affordability, job opportunities, cultural heritage, natural beauty, and quality of life make it a great place to live. So whether you're seeking outdoor adventures, artistic inspiration, or a peaceful desert oasis, New Mexico has it all.
Rental Market Trends
Farmington, NM
As of July 2025, Farmington's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Farmington's average rent is 4.3% ($65) lower than the New Mexico average of $1,515 and 18.3% ($325) lower than the U.S. average of $1,775.
Average Rent
$1,450
Monthly ChangeMonth Over Month Change
9.8% ($129)
Yearly ChangeYear Over Year Change
46.6% ($461)
Avg. Days on MarketAverage Days on Market
35
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,041 | 2.4% ($24) | 25.4% ($211) |
| 2 Beds | $1,361 | 5.4% ($70) | 48.9% ($447) |
| 3 Beds | $1,735 | 6% ($98) | 8.9% ($142) |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Farmington Rental Market FAQs
Explore rental prices, market trends, and availability in Farmington, NM.
The average rent in Farmington, NM is $1,450 per month.
Homes in Farmington typically rent for between $729 and $2,256 per month, with an average of $1,450 per month.
In Farmington, the average rent for a 1-bedroom home is $1,041 per month, for a 2-bedroom home, $1,361 per month, and a 3-bedroom home is $1,735 per month.
The average rent in Farmington is 18.3% ($325) lower than the national average of $1,775 per month.
The average rent in Farmington has increased by 9.8% ($129) in the last month and increased by 46.6% ($461) over the past year.
The rental market in Farmington, NM, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Farmington, NM, the average rental stays on the market for approximately 35 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 14 rental properties available in Farmington, NM.
Based on the current averages, a household would need an annual income of $54,440 to comfortably afford a 2-bedroom home in Farmington.
