Rents are 3% below what Farmington's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,535 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Farmington is 0.8% below its high of $1,548 in August 2026, at $1,535 as of September 2026.
Rent in Farmington changed +3.5% over the year to September 2026. Across the 12 New Mexico cities Zillow tracks, the typical change was +4.1%.
Rent rose in 9 of the last 12 months.
30% of the median household income ($68,784) is $1,720 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,670).
From Zillow's monthly rent index (ZORI) for Farmington. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Farmington, NM is majority owner-occupied, has a large share of families with children, 26.2% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Farmington, NM has changed in 5 years
Compared with 2023, rent in Farmington, NM has climbed by $265 per month, settling near $1,535 after starting the period at $1,270. Median household income grew from $56,045 to $68,784 between 2021 and 2024, a 22.7% shift. About 33.8% of households rent today, against 36.2% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 19.8% to 26.2%. Taken together, the five-year picture in Farmington, NM reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Can you afford rent in Farmington on your salary?
At $1,535/mo, how Farmington rent compares to typical pay (30% rule).
Farmington rent by bedroom count
Median rent for each apartment size in Farmington. Click any size for full breakdown.
Tips for renters in Farmington
Last updated: October 17, 2026
The median rent in Farmington is $1,535/mo as of October 2026. A studio apartment averages $890/mo while a 2-bedroom runs $1,100/mo. One-bedroom apartments average $910/mo and 3-bedroom units go for $1,540/mo.
At 27% of local median household income ($68,784/yr), Farmington ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.5% over the past year.
Frequently asked questions
How much income do you need to rent in Farmington?
Is rent going up or down in Farmington?
How does Farmington rent compare to other cities in New Mexico?
At $1,535/mo, rent takes ~27% of Farmington's median household income ($68,784/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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