Farmington, MI
- Overview
- Performance
- Listings
- Buy Box
Key Performance Metrics
Market snapshotPerformance indicators for the Farmington short-term rental market based on reliable data.
Listings
65 / 214
Reliable / Active
Cap Rate
9%
Middle-Earners Gross Yield
Revenue
$29,396
Middle-Earners Revenue
Occupancy
64%
Middle-Earners Occupancy
Home Value
$315,666
Median Home Sale Price
Top Earners
$57,439
Top-Earners Revenue
Farmington
Market Revenue Seasonality
Top Listings
Highest revenueThe highest-performing listings in Farmington.
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Generally Investor friendly
Farmington Regulations
Farmington itself has no STR ordinance or permit requirements, but investors must register for Michigan sales tax and many properties face enforceable HOA/condo bans per 2025 case law. The adjacent Farmington Hills ban adds jurisdictional risk for investors mistakenly targeting that market. Overall, compliance is straightforward where permitted, but covenants and nearby restrictions create meaningful constraints.
Local STR Agent
STR specialist · Farmington, MI
About Farmington
Farmington is a city in Oakland County in the U.S. state of Michigan. A northwestern suburb of Detroit, Farmington is located roughly 20 miles (32.2 km) from downtown Detroit, and is surrounded on most sides by the larger city of Farmington Hills. As of the 2020 census, the city had a population of 11,594.The area is known for its historic downtown, elegant Victorian-style homes, and one of Michigan's top rated public school systems, Farmington Public Schools. Since 2009, the city's downtown has been the center of an extensive renovation and remodeling featuring a refacing or rebuilding of many buildings on Grand River Avenue, as well as brick paver sidewalks, the Farmington Pavilion, new lighting, and landscaping. In 2007 CNNMoney.com listed Farmington as number 55 in its Best Places to Live survey. Farmington was also ranked 27th on the list for Best to Live in 2013, citing nearly US$3 million in additional city renovations and development, bumping its rank up.