Farmington, MI

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

Performance indicators for the Farmington short-term rental market based on reliable data.

Listings

82 / 211

Reliable / Active

Cap Rate

10%

Middle-Earners Gross Yield

Revenue

$31,755

Middle-Earners Revenue

Occupancy

70%

Middle-Earners Occupancy

Home Value

$320,055

Median Home Sale Price

Top Earners

$59,248

Top-Earners Revenue

Farmington

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Farmington.

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B

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.

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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.

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