Farmington, MN
Population 23,675 · Minnesota
About Farmington, MN
Farmington is a mid-sized city located in Minnesota with a population of 23,675 residents according to the latest US Census Bureau American Community Survey data. The median household income is $118,556 per year, which is 58% above the national median of $75,149. The median age of 35.6 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Farmington features a median home value of $345,100, which is 41% above the national median of $244,900. This positions Farmington in a moderately priced market relative to the rest of the country. Median monthly rent is $1,275, 10% above the national average of $1,163/month. Of the 8,475 total housing units, 87% are owner-occupied (7,129 units) and 13% are renter-occupied (1,100 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Farmington shows an unemployment rate of 3.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Farmington have an average one-way commute time of 27.5 minutes.
Education & Demographics
38.1% of Farmington residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 3.7% White, 1.0% Hispanic or Latino, 0.4% Black or African American, and 2.2% Asian residents, with 4.2% of the population being foreign-born.
How Farmington Ranks in Minnesota
Cost of Living in Farmington, MN
Compared to national averages, Farmington has a median household income of $118,556 (58% above the national median of $75,149). Home values average $345,100, which is 41% above the national median. Monthly rent at $1,275 is 10% above the US average of $1,163. Within Minnesota, Farmington's income is 60% above the state average of $74,221, and home values are 69% above the state median of $204,472.
Why Live in Farmington, MN?
Farmington offers a strong local economy with a median household income of $118,556, well above the national average, and a strong job market with an unemployment rate of just 3.6%, and a well-educated community where 38.1% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 3.8%, better than the national average.
Farmington has a population of 23,675 with a median age of 35.6 years. Compare Farmington with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Farmington
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Champlin | 23,450 | $115,719 | $338,400 | Compare |
| White Bear Lake | 24,026 | $79,712 | $318,000 | Compare |
| New Brighton | 22,900 | $87,272 | $345,900 | Compare |
| Faribault | 24,458 | $61,662 | $233,900 | Compare |
| Crystal | 22,685 | $86,752 | $280,500 | Compare |
| Hastings | 22,050 | $92,940 | $294,100 | Compare |
| Columbia Heights | 22,016 | $74,688 | $259,900 | Compare |
| Golden Valley | 21,927 | $114,435 | $423,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Farmington With Other Cities
Frequently Asked Questions about Farmington
What is the population of Farmington, MN?
The population of Farmington, MN is 23,675 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Minnesota.
What is the median household income in Farmington?
The median household income in Farmington, MN is $118,556 per year, which is 58% above the national median of $75,149.
What is the median home value in Farmington?
The median home value in Farmington, MN is $345,100, which is 41% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Farmington?
The median monthly rent in Farmington, MN is $1,275, which is 10% above the national average of $1,163/month.
What is the unemployment rate in Farmington?
The unemployment rate in Farmington, MN is 3.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Farmington, MN a good place to live?
Farmington offers above-average incomes, a competitive housing market, and a strong job market. With a population of 23,675 and a median age of 35.6, the city appeals to a broad range of residents.
How educated is Farmington, MN?
38.1% of residents in Farmington aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Farmington?
Key cost-of-living indicators for Farmington, MN: median home value is $345,100 (41% above national), median rent is $1,275/month, and median household income is $118,556. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Farmington?
The poverty rate in Farmington, MN is 3.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Farmington, MN?
Farmington's population is 3.7% White, 1.0% Hispanic or Latino, 0.4% Black or African American, 2.2% Asian, and 4.1% two or more races. 4.2% of residents are foreign-born.