There are currently 3,605 real estate properties in FARMINGTON, MI, with a median automated valuation model (AVM) price of $251,200.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in FARMINGTON, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in FARMINGTON, MI, is $259,634.00, with the most expensive house in FARMINGTON, MI, topping out at $1,140,000.00 and the cheapest home in FARMINGTON, MI, clocking in at $51,800.00. In other words, there’s something for every potential homebuyer or savvy investor in FARMINGTON, MI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in FARMINGTON, MI, is on a rollercoaster ride. The average rent price in FARMINGTON, MI, is $1,640.00. Indeed, when looking to rent in FARMINGTON, MI, you can expect to pay as little as $620.00 or as much as $3,920.00, with the average rent median estimated to be $1,610.00. The good news is that finding an affordable and desirable property to rent in FARMINGTON, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.