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
$543,970.34
Median Rent
$2,000.21/mo
Price-to-Rent Ratio
22.7
Property Tax RateTIE
0.80%
Price Change (1Y)
-0.8%
Price Change (5Y)
-3.8%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$354,268
Key Differences
Home Prices
Farmington's median home price of $259,731.52 is lower than Santa Fe's $543,970.34 by 52%.
Monthly Rent
Renting in Farmington costs $1,415.42/mo compared to $2,000.21/mo in Santa Fe—a difference of $584.79/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.