HomeMinnesotaDakota CountyFarmington city
Farmington city, Minnesota: commercial real estate data.
Farmington city is a Census city of 23,902 people across 15.51 square miles of land, in Dakota County. Median household income is $123,673, 86.5 percent of occupied homes are owned, and the SBA record carries 27 7(a) approvals to borrowers here worth $9.0 m.
76 sourced place values · tier FULL · 8 sections
Farmington
What Farmington is
- Census place typecity
- Land area15.51 sq mi
- Water area0.25 sq mi
- Population per square mile of land1,541
- County holding the largest share of its areaDakota County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Farmington
How many people live in Farmington
- Population23,902
- Median age35.4
- Population under 186,950
- Share under 1829.1 percent
- Population 65 and over1,932
- Share 65 and over8.1 percent
- Households8,313
- Family households6,354
- Share of households that are families76.4 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Farmington
Income and work in Farmington
- Median household income$123,673
- Per capita income$48,512
- Civilian labor force13,801
- Employed13,332
- Unemployed469 plus or minus 185
- Unemployment rate3.4 percent plus or minus 1.3
- Adults 25 and over15,387
- Adults 25 and over with a high school diploma or higher93.5 percent
- Adults 25 and over with a bachelor degree or higher38.7 percent
- Adults 25 and over with a graduate degree7.9 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Farmington
Housing in Farmington
- Housing units8,528
- Occupied units8,313
- Vacant units215 plus or minus 101
- Vacancy rate2.5 percent plus or minus 1.2
- Owner occupied7,190
- Renter occupied1,123
- Ownership rate86.5 percent
- Median owner-occupied home value$366,200
- Median gross rent, monthly$1,241
- Annual rent as a share of median income12.0 percent plus or minus 2.5
- Single family units7,576
- Share single family88.8 percent
- Units in buildings of two or more892 plus or minus 216
- Share in buildings of two or more10.5 percent plus or minus 2.5
- Mobile homes60 plus or minus 70
- Median year structure built1998
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Farmington
How Farmington gets to work
- Workers 16 and over who commute10,504
- Commuting under 15 minutes2,293
- Share commuting under 15 minutes21.8 percent
- Commuting 30 minutes or more4,472
- Share commuting 30 minutes or more42.6 percent
- Drove alone71.7 percent
- Carpooled6.2 percent plus or minus 1.8
- Public transport0.3 percent plus or minus 0.3
- Walked0.9 percent plus or minus 0.6
- Worked from home20.4 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Farmington
SBA 7(a) lending to Farmington borrowers
- Approvals27
- Gross approval$8,973,300
- Average approval$332,344
- Median approval$142,100
- Ninetieth percentile approval$835,000
- Largest approval$1,814,000
- Jobs supported341
- Jobs per approval12.6
- Loans with a final outcome6
- Paid in full6
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more11.1 percent
- Share to franchises11.1 percent
- Distinct lenders16
- Distinct industries by NAICS17
A charge-off rate is not published here. only 6 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Farmington
SBA 504 lending to Farmington borrowers
- Approvals14
- Gross approval$10,613,000
- Average approval$758,071
- Median approval$480,000
- Largest approval$2,572,000
- Jobs supported146
- Loans with a final outcome2
- Charged off0
- Median term240 months
- Distinct CDCs4
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Dakota County, not Farmington
Dakota County context, not Farmington figures
These are Dakota County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Farmington measurements.
- Establishments in Dakota County10,964
- Employment at those establishments, Dakota County185,426
- Covered employment, Dakota County189,387
- Average annual pay, Dakota County$72,792
- Average weekly wage, Dakota County$1,400
- Housing units permitted, Dakota County2,146
- Of those, single family, Dakota County1,236
- County product, 2024, Dakota County$37,138,379,000
- County product change over the prior year, Dakota County4.6 percent
- Average income of an arriving household, Dakota County$70,009
Every figure in this section is published for Dakota County as a whole and is not a measurement of Farmington. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Farmington questions, answered from the record.
How many people live in Farmington, Minnesota?
23,902, in 8,313 households. Farmington city covers 15.51 square miles of land, which is 1,541 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Farmington in?
Dakota County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Farmington?
$123,673. The median owner-occupied home is valued at $366,200. Median gross rent is $1,241 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Farmington businesses?
27 7(a) approvals totalling $9.0 m, across 16 lenders, median approval $142,100, plus 14 504 approvals worth $10.6 m. These count approvals to borrowers whose address is in Farmington, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Farmington borrowers get paid back?
No rate is published for Farmington. only 6 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page Farmington figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Dakota County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Farmington.
Is zoning published for Farmington?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.