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 $358,761 in November, 2.3% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of December 19, the 30-year fixed mortgage rate sits at 6.72%.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: $205,253
- 1-year price change: +4.2%
- 5-year price change: +24.2%
#7. Bloomfield, NM
- Typical home value: $221,037
- 1-year price change: +3.2%
- 5-year price change: +18.3%
#6. Waterflow, NM
- Typical home value: $221,651
- 1-year price change: +6.2%
- 5-year price change: data not available
#5. Aztec, NM
- Typical home value: $241,922
- 1-year price change: +4.1%
- 5-year price change: +21.2%
#4. Fruitland, NM
- Typical home value: $255,306
- 1-year price change: +5.5%
- 5-year price change: data not available
#3. Farmington, NM
- Typical home value: $256,697
- 1-year price change: +7.0%
- 5-year price change: +42.6%
#2. Flora Vista, NM
- Typical home value: $276,528
- 1-year price change: +4.8%
- 5-year price change: +33.3%
#1. La Plata, NM
- Typical home value: $284,882
- 1-year price change: +2.8%
- 5-year price change: data not available