Commercial Real Estate Market in Farmington, NM
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
189 active listings and 2,025 off-market properties in Farmington, NM. Commercial property asks $408/SF to buy and $16.63/SF/Yr to lease.
Market Trends
Farmington, NM spans 576.3 square miles in San Juan County, New Mexico. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Farmington, NM asks $123/SF to buy. Vacancy runs 20.8% across the West region in 2025, up from 11% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Retail
Retail space in Farmington, NM asks $103/SF to buy. Vacancy runs 5.8% across the West region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Industrial
Industrial vacancy in Farmington, NM runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Farmington, NM runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 71.8%
- Industrial 14.8%
- Commercial 10.3%
- Open space 1.8%
- Mixed use 0.9%
- Planned_development 0.3%
Largest Zones share of zoned land by district
Rural Agricultural
Single Family 7
Industrial
Single Family 10
Residential Estate 1
Farmington, NM zones 21,566 acres across 23 districts. Commercial zoning covers 10.3% of zoned land, residential 71.8%, open space 1.8% and industrial 14.8%. The largest single district is Rural Agricultural at 15.8%. For commercial buyers the practical constraint is that only 25.2% of land carries a commercial or industrial designation.
Residential Estate 1 (RE-1)
MINIMUM LOT SIZE ZONING DISTRICT HIERARCHY most restrictive to least restrictive Residential Base Zoning Districts RE-2 Residential estate 2 87,120 square foot (2-acres) RA Rural agricultural 43,560 square feet (1 acre) RE-1 Residential estate 1 43,560 square feet (1 acre) RE-20 Residential estate 20 20,000 square feet SF-10 Single-family 10 10,000 square fe…
Market overview
Demographics & Economy
Farmington, NM has 56,972 residents in 22,089 households. Density runs 99 people per square mile. Median household income here is $60,350 and median gross rent $995 a month.
56,972
Population
22,089
Households
2.6
Avg Household Size
35
Median Age
21%
College-Educated
88%
High-School Grad
576.3 sq mi
ZIP Area
99
Density / Sq Mi
$60,350
Median Household Income
$34,078
Median Earnings
$995
Median Rent
$214,713
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Farmington?
Commercial property in Farmington, NM asks an average of $408 per square foot. Office carries the highest asking price at $123/SF.
How much does it cost to lease commercial space in Farmington?
Asking lease rates in Farmington, NM average $16.63 per square foot per year.
What zoning applies to commercial property in Farmington?
Farmington, NM zones 21,566 acres across 23 districts, of which 10.3% is commercial and 14.8% industrial. The largest single district is Rural Agricultural at 15.8% of zoned land. Residential zoning covers 71.8% and open space 1.8%.
Where does Realmo's Farmington market data come from?
Realmo compiles Farmington, NM figures from 174 active sale listings, 15 active lease listings, 2,025 tracked off-market properties, the current Farmington zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 174 active for-sale and 15 active for-lease listings in Farmington, NM. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 21,566 zoned acres across 23 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
