Median Home PriceBETTER
$259,731.52
Median RentBETTER
$1,415.42/mo
Price-to-Rent RatioBETTER
15.3
Property Tax RateTIE
0.80%
Price Change (1Y)BETTER
+1.7%
Price Change (5Y)BETTER
+8.7%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$104,331
Median Home Price
$366,486.86
Median Rent
$1,916.65/mo
Price-to-Rent Ratio
15.9
Property Tax RateTIE
0.80%
Price Change (1Y)
+0.8%
Price Change (5Y)
+4.1%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$177,358
Key Differences
Home Prices
Farmington's median home price of $259,731.52 is lower than Rio Rancho's $366,486.86 by 29%.
Monthly Rent
Renting in Farmington costs $1,415.42/mo compared to $1,916.65/mo in Rio Rancho—a difference of $501.23/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.