The story of this market
The typical home in Farmington, Michigan sells for about $318,000, or $208 per square foot.
Prices are up +8.8% from a year ago, so sellers still have some momentum. Homes take about 58.5 days to sell. HUD's fair market rent for a two-bedroom is $1,340 a month.
Monthly price momentum
Home values since 2015
+4.5%
MI · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Farmington, Michigan
The Farmington housing market is currently experiencing a cooling phase, characterized by a high share of price cuts and a median time on market that has lengthened significantly compared to previous periods. While demand remains steady for well-priced homes, the limited inventory and higher price points are contributing to a more balanced environment for buyers. The market is currently driven by a lack of new construction and a reliance on existing housing stock.
No ARED county foreclosure postings attributed to Farmington yet — the verified ledger covers every county the foreclosure ingest has read, attributed by published city area. Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.
Median prices moved up 8.8% year over year.
Homes spend a median of 59 days on market with 2.0 months of supply — a fast-moving market.
59% of listings have cut prices · homes sell at 94.2% of asking — demand is cooling.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.5% · poverty 4.8% — a stable, low-distress profile.
The amenity base that shapes daily life and property demand in this city — what residents actually live with, and what the pipeline is adding.
A historic downtown area featuring local boutiques, restaurants, and community events that anchor the city's social life.
A central community park that hosts seasonal events, including farmers markets and outdoor concerts, serving as a primary public gathering space.
Farmington is well-suited for families and professionals seeking a historic, small-town atmosphere with convenient access to the broader Detroit metro area's employment centers.
The city is served by the Farmington Public Schools district, which is generally regarded for its academic offerings and community-focused programming.
The city is primarily served by major arterial roads like Grand River Avenue, providing direct access to the regional highway network.
Farmington features a historic downtown district with local dining and shopping, alongside several community parks and green spaces that serve as local gathering points.
The rental market is characterized by a mix of single-family homes and older condo stock, particularly along the Grand River Avenue corridor, with moderate vacancy pressure.
The local economy is supported by a mix of small businesses, professional services, and proximity to the larger corporate headquarters and industrial sectors located in neighboring Farmington Hills.
The city maintains a stable economic base with proximity to major Oakland County employment hubs, though new residential development is limited by the city's established, built-out footprint.
Development is largely focused on infill projects and the revitalization of existing commercial corridors rather than large-scale new construction.
Parcels are subject to standard municipal, county, and school district levies, with no significant MUD or PID presence reported.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Michigan) — Disabled Veterans Homestead Exemption: Provides an exemption from property taxes levied for school operating purposes and potentially other local taxes depending on eligibility. State (Michigan) — General Property Tax Act: Property is assessed at 50% of true cash value (State Equalized Value). Taxable value is capped at the lesser of the state equalized value or the previous year's taxable value adjusted by the consumer price index (up to 5%), unless a transfer of ownership occurs.
Data retrieved from U.S. Census Bureau QuickFacts for Farmington city, Michigan.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
County linkage populates as this city's member ZIP reports roster beneath it.
No ZIP intel reports rostered under this city yet — property dossiers roll up through the ZIP tier, so the chain populates as the county refreshes discover them.