Farmington, NM
Population 46,339 · New Mexico
About Farmington, NM
Farmington is a mid-sized city located in New Mexico with a population of 46,339 residents according to the latest US Census Bureau American Community Survey data. The median household income is $63,745 per year, which is 15% below the national median of $75,149. The median age of 37 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Farmington features a median home value of $225,400, which is 8% below 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 $993, 15% below the national average of $1,163/month. Of the 18,220 total housing units, 63% are owner-occupied (10,345 units) and 37% are renter-occupied (5,959 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Farmington shows an unemployment rate of 5.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 19.7%, above the national average of 12.4%. Workers in Farmington have an average one-way commute time of 17.9 minutes, one of the shorter commutes in the region.
Education & Demographics
22.8% of Farmington residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 12.9% White, 33.5% Hispanic or Latino, 0.3% Black or African American, and 10.4% Asian residents, with 3.1% of the population being foreign-born.
How Farmington Ranks in New Mexico
Cost of Living in Farmington, NM
Compared to national averages, Farmington has a median household income of $63,745 (15% below the national median of $75,149). Home values average $225,400, which is 8% below the national median. Monthly rent at $993 is 15% below the US average of $1,163. Within New Mexico, Farmington's income is 5% below the state average of $67,435, and home values are 4% below the state median of $233,762.
Why Live in Farmington, NM?
Farmington offers affordable housing with a median home value of $225,400, below the US average of $244,900, and rent that’s lower than the national average at $993/month, and short commute times averaging just 17.9 minutes.
Potential considerations include median household income ($63,745) 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 46,339 with a median age of 37 years. Compare Farmington with other cities to see how it stacks up, or explore all cities in New Mexico.
Similar Cities Near Farmington
Cities in New Mexico with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Roswell | 47,823 | $50,294 | $139,200 | Compare |
| Hobbs | 39,887 | $65,691 | $180,700 | Compare |
| Clovis | 38,153 | $54,029 | $160,000 | Compare |
| South Valley | 36,605 | $51,062 | $205,200 | Compare |
| Carlsbad | 31,813 | $78,277 | $187,900 | Compare |
| Alamogordo | 31,063 | $52,515 | $163,600 | Compare |
| Gallup | 21,333 | $57,466 | $134,600 | Compare |
| Los Lunas | 17,932 | $63,696 | $232,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Mexico
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, NM?
The population of Farmington, NM is 46,339 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in New Mexico.
What is the median household income in Farmington?
The median household income in Farmington, NM is $63,745 per year, which is 15% below the national median of $75,149.
What is the median home value in Farmington?
The median home value in Farmington, NM is $225,400, which is 8% below 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, NM is $993, which is 15% below the national average of $1,163/month.
What is the unemployment rate in Farmington?
The unemployment rate in Farmington, NM is 5.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Farmington, NM a good place to live?
Farmington offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 46,339 and a median age of 37, the city appeals to a broad range of residents.
How educated is Farmington, NM?
22.8% of residents in Farmington aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Farmington?
Key cost-of-living indicators for Farmington, NM: median home value is $225,400 (8% below national), median rent is $993/month, and median household income is $63,745. The home-value-to-income ratio is 3.5x, a moderate figure by national standards.
What is the poverty rate in Farmington?
The poverty rate in Farmington, NM is 19.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Farmington, NM?
Farmington's population is 12.9% White, 33.5% Hispanic or Latino, 0.3% Black or African American, 10.4% Asian, and 0.7% two or more races. 3.1% of residents are foreign-born.