Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 36.2 yrs |
|---|---|
| Avg HH Size | 2.91 |
| Below Poverty | 3.0% ▼ 70% below avg |
| College Grads | 52.5% ▲ 36% above avg |
| Unemployment | 3.1% ▼ 37% below avg |
| No HS Diploma | 141 (0.6%) |
| HS Graduate | 4,897 (21.5%) |
| Some College | 2,518 (11.1%) |
| Associates | 3,248 (14.3%) |
| Bachelors | 3,460 (15.2%) |
| Graduate Degree | 8,488 (37.3%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $123,582 ▲ 62% above avg |
|---|---|
| Median Home Value | $350,500 ▲ 26% above avg |
| Home/Income Ratio | 2.8x (nat avg ~3.5x) |
| Median Rent | $1,427/mo |
| Total Housing Units | 12,840 |
| Vacant Units | 301 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Farmington is a city in Minnesota, located in Dakota County. The city spans 1 ZIP code and is home to approximately 36,681 residents. It is a relatively young city, with a median age of 36.2 years.
Economically, Farmington is a upper-middle-income community. The median household income of $123,582 is significantly above the national average. Approximately 3.0% of residents live below the poverty line. The unemployment rate is 3.1%, below the national average.
The real estate market in Farmington is a mid-range housing market. Median home values stand at $350,500, which is above the national average. Renters typically pay around $1,427 per month. Homeownership is high at 88.9%, typical of suburban and family-oriented communities.
The population of Farmington is well-educated. 52.5% of adults hold a bachelor's degree or higher — above the national average. The community is primarily White (83.87%).
Farmington, MN offers residents above-average earning potential within Minnesota.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 55024 | 36,681 | $123,582 | $350,500 | $1,427 | 3.1% | 52.5% | 88.9% |