Farmington, MN 55024 - Real Estate Investment Insights & Performance Data

Welcome to our 55024 real estate data hub, tailored for investors in Farmington, MN. We aim to provide valuable insights, empowering you to make well-informed decisions in this unique market.

Explore essential data such as home prices, rental rates, and appreciation trends specific to 55024 in Farmington, MN. Discover Section 8 housing opportunities and challenges to maximize your investment potential in DAKOTA COUNTY.

Leverage our comprehensive, zip code-specific data to excel in Farmington, MN real estate investing. Uncover the wealth of information available, and position yourself for success in the Farmington property market.

• Location Overview

  • Zip Code: 55024
  • City: Farmington
  • State: MN
  • Metro Area: Minneapolis-St. Paul-Bloomington, MN-WI
  • County Name: DAKOTA COUNTY

• Real Estate Market Snapshot

  • Average Home Price (All Types): $373,984
  • Average Home Price (Single Family Homes): $376,503
  • Average Monthly Rental Price (All Types): Not Available
  • Price-to-Rent Ratio: Not Available
  • Zillow Projected % appreciation from 4/2023-4/2024: -0.5%

• Section 8 Housing Insights

  • Average 2 Bedroom Section 8 Rental Rates: $1,540
  • Average 3 Bedroom Section 8 Rental Rates: $2,090
  • Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 20.24
  • Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 14.91
  • Number of Units Offered in Section 8 in the County: 1225
  • Number of Occupied Units in Section 8 in the County: 1146
  • Percentage of Section 8 Units Occupied in the County: 93.5%

• Historical & Recent Price Appreciation Rates

  • Total % Appreciation since 1990 (Government Data): 238.41
  • Total % Appreciation since 2000 (Government Data): 96.04
  • YTD Appreciation (Backwards from 4/2023, Realtor Data): 0.02%
  • 1-Year Appreciation (Backwards from 4/2023, Realtor Data): 0.01%
  • 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 19.77%
  • 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 31.19%
  • 10-Year Appreciation (Backwards from 4/2023, Realtor Data): 88.63%
  • 15-Year Appreciation (Backwards from 4/2023, Realtor Data): 48.82%
  • 20-Year Appreciation (Backwards from 4/2023, Realtor Data): 68.07%

• Historical & Recent Rent Appreciation Rates

  • YTD Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
  • 1-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
  • 3-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
  • 5-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%