Cities with the most expensive homes in the Farmington metro area
Cities with the most expensive homes in the Farmington metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.
The typical home value in the United States was $355,696 in March, 4.6% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of May 2, the 30-year fixed mortgage rate sits at 7.22%.Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.
Stacker compiled a list of cities with the most expensive homes in the Farmington metro area using data from Zillow. Charts show the monthly typical home value since January 2018. All 8 cities and towns with data available were included in the list.
#8. Kirtland, NM
- Typical home value: $191,093
- 1-year price change: -2.1%
- 5-year price change: +22.3%
#7. Bloomfield, NM
- Typical home value: $213,843
- 1-year price change: -0.0%
- 5-year price change: +17.6%
#6. Waterflow, NM
- Typical home value: $217,087
- 1-year price change: +2.5%
- 5-year price change: data not available
#5. Aztec, NM
- Typical home value: $235,009
- 1-year price change: +3.2%
- 5-year price change: +21.9%
#4. Farmington, NM
- Typical home value: $246,503
- 1-year price change: +8.4%
- 5-year price change: +39.7%
#3. Fruitland, NM
- Typical home value: $248,358
- 1-year price change: +4.3%
- 5-year price change: data not available
#2. Flora Vista, NM
- Typical home value: $263,826
- 1-year price change: +2.0%
- 5-year price change: +33.3%
#1. La Plata, NM
- Typical home value: $279,972
- 1-year price change: +7.3%
- 5-year price change: data not available
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 379 metros.
