How much is a home worth in ZIP code 87401?

The typical home in 87401 is worth $267,904, based on the Zillow Home Value Index.

Are home values rising in 87401?

Home values in 87401 are up 3.7% over the past year, and up 6.8% a year over five years.

What is the typical rent in 87401?

A typical home in 87401 rents for about $1,244 a month, a gross rental yield of 5.6%.

What is the property tax rate in 87401?

The effective property tax rate in 87401 is 0.6% — roughly $1,642 a year on a typical home.

ZIP code 87401 has a population of 45,229 and a median household income of $61,886.

HousingHandbookReference data

…

U.S. ZIP Code · NM87401

San Juan County · Farmington, NM

Typical home value

$267,904^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.7%
5-year / yr: +6.8%
10-year / yr: +4.7%

Relative price

vs U.S.: -5.7%
vs metro: ≈ metro median
vs state: -4.2%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 87401 is worth $267,904. Over the past year, values have risen 3.7%. Homes here rent for a typical $1,244 a month — a 5.6% gross rental yield. The effective property tax rate is 0.6%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,244^[2]
Gross yield: 5.6%^[2]
Cap rate: 3.3%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.6%^[3]
Typical annual tax: $1,642^[3]

#Climate risk

FEMA National Risk Index ratings for San Juan County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Relatively Low
Drought: Relatively High
Heat wave: Relatively Moderate
Hurricane: Not Applicable
Tornado: Very Low
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 45,229^[3]
Median household income: $61,886^[3]

#Migration

Household moves in and out of San Juan County over a year, from IRS tax-return data.

Net migration: -77^[5]
Moved in: 1,966
Moved out: 2,043

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 18
Elementary: 10
Middle: 4
High: 3

FARMINGTON HIGH
High · Grades 9–12 · FARMINGTON
1,821 students
HEIGHTS MIDDLE SCHOOL
Middle · Grades 6–8 · FARMINGTON
699 students
TIBBETTS MIDDLE SCHOOL
Middle · Grades 6–8 · FARMINGTON
683 students
HERMOSA MIDDLE SCHOOL
Middle · Grades 6–8 · FARMINGTON
628 students
COUNTRY CLUB ELEMENTARY
Elementary · Grades K–5 · FARMINGTON
527 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.6%

Net yield (after ~40% expenses)3.3%

Annual rent$14,933

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,355

Loan principal$214,323

Down payment$53,581

Total interest paid$273,357

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.38

Monthly cost to own$1,714

Monthly rent$1,244

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 89th percentile^[1]
Rental yield: 0th percentile^[2]
Property tax: 88th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

10th for most populous in NMView list →

Frequently asked

How much is a home worth in ZIP code 87401?: The typical home in 87401 is worth $267,904, based on the Zillow Home Value Index.
Are home values rising in 87401?: Home values in 87401 are up 3.7% over the past year, and up 6.8% a year over five years.
What is the typical rent in 87401?: A typical home in 87401 rents for about $1,244 a month, a gross rental yield of 5.6%.
What is the property tax rate in 87401?: The effective property tax rate in 87401 is 0.6% — roughly $1,642 a year on a typical home.
Who lives in 87401?: ZIP code 87401 has a population of 45,229 and a median household income of $61,886.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

87416 vs 87401 →
Upper Fruitland CDP, NM
Typical home
$265,071
Gross yield
—
87410 vs 87401 →
Aztec, NM
Typical home
$272,365
Gross yield
—
87413
Bloomfield, NM
Typical home
$250,848
Gross yield
—
87415
Flora Vista CDP, NM
Typical home
$302,448
Gross yield
—
87421
Waterflow CDP, NM
Typical home
$227,546
Gross yield
—
87417
Kirtland, NM
Typical home
$226,913
Gross yield
—

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 87401 against any other ZIP — full side-by-side table.

Compare 87401 →

#Jump to section

U.S. ZIP Code · NM87401

Get more data on ZIPs like this

Get more data on ZIPs like this