Cities with the fastest growing home prices in Farmington metro area

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January 19, 2023
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Cities with the fastest growing home prices in Farmington metro area

It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.

The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.

Stacker compiled a list of cities with the fastest-growing home prices in Farmington, NM metro area using data from Zillow. Cities are ranked by 1-year price change as of December 2022. The typical home value in the United States increased over the last year by +8.4%% to $356,819. All 8 cities and towns with data available were included in the list.

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1 / 8
Stacker

#8. Fruitland, NM

- 1-year price change: +$17,607 (+9.2%)
- 5-year price change: +$89,768 (+74.9%)
- Typical home value: $209,626 (#5 most expensive city in metro)
2 / 8
Stacker

#7. Bloomfield, NM

- 1-year price change: +$18,112 (+10.7%)
- 5-year price change: +$77,662 (+70.9%)
- Typical home value: $187,241 (#7 most expensive city in metro)
3 / 8
Stacker

#6. La Plata, NM

- 1-year price change: +$18,264 (+8.1%)
- 5-year price change: +$113,288 (+86.6%)
- Typical home value: $244,127 (#1 most expensive city in metro)
4 / 8
Stacker

#5. Waterflow, NM

- 1-year price change: +$20,599 (+12.4%)
- 5-year price change: +$76,781 (+70.0%)
- Typical home value: $186,453 (#8 most expensive city in metro)
5 / 8
Stacker

#4. Aztec, NM

- 1-year price change: +$22,878 (+12.0%)
- 5-year price change: +$88,140 (+69.9%)
- Typical home value: $214,211 (#4 most expensive city in metro)

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6 / 8
Stacker

#3. Flora Vista, NM

- 1-year price change: +$22,999 (+11.1%)
- 5-year price change: +$109,362 (+90.1%)
- Typical home value: $230,747 (#2 most expensive city in metro)
7 / 8
Stacker

#2. Farmington, NM

- 1-year price change: +$26,441 (+13.5%)
- 5-year price change: +$82,660 (+59.1%)
- Typical home value: $222,525 (#3 most expensive city in metro)
8 / 8
Stacker

#1. Kirtland, NM

- 1-year price change: +$31,834 (+19.7%)
- 5-year price change: +$95,825 (+98.2%)
- Typical home value: $193,429 (#6 most expensive city in metro)

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