Farmington, IA
Population 531 · Iowa
About Farmington, IA
Farmington is a small community in Iowa with a population of 531 residents. The median household income is $54,643 per year, which is near the national average. The median age in Farmington is 52.7 years.
Housing in Farmington has a median home value of $63,600 and median monthly rent of $692. Of the 319 total housing units, the majority are owner-occupied, with 221 owner-occupied and 47 renter-occupied units.
The unemployment rate in Farmington is 0.0% and the poverty rate is 9.8%. 10.6% of residents hold a bachelor's degree or higher. The average commute time is 25.2 minutes.
Cost of Living in Farmington, IA
Compared to national averages, Farmington has a median household income of $54,643 (27% below the national median of $75,149). Home values average $63,600, which is 74% below the national median. Monthly rent at $692 is 40% below the US average of $1,163. Within Iowa, Farmington's income is 20% below the state average of $67,947, and home values are 52% below the state median of $132,237.
Why Live in Farmington, IA?
Farmington offers affordable housing with a median home value of $63,600, below the US average of $244,900, and rent that’s lower than the national average at $692/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a low poverty rate of 9.8%, better than the national average.
Potential considerations include median household income ($54,643) that falls below the national average. However, Farmington’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Farmington has a population of 531 with a median age of 52.7 years. Compare Farmington with other cities to see how it stacks up, or explore all cities in Iowa.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Farmington
What is the population of Farmington, IA?
The population of Farmington, IA is 531 according to the latest Census data.
What is the median household income in Farmington?
The median household income in Farmington, IA is $54,643 per year.
What is the median home value in Farmington?
The median home value in Farmington, IA is $63,600.
What is the average rent in Farmington?
The median monthly rent in Farmington, IA is $692.
What is the unemployment rate in Farmington?
The unemployment rate in Farmington, IA is 0.0%.