Rent Tracker
Rent Inflation in Farmington, NM
The average asking rent in Farmington, NM is $1,303/month as of 2026-08. That is +4.4% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,303/mo
as of 2026-08
Year-over-Year Change
+4.4%
24-Month Rent Trend
Monthly ZORI index values for Farmington, NM.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $1,303 | +0.23% |
| 2026-07 | $1,300 | +0.70% |
| 2026-06 | $1,291 | +0.70% |
| 2026-05 | $1,282 | -1.46% |
| 2026-04 | $1,301 | +0.15% |
| 2026-03 | $1,299 | +0.39% |
| 2026-02 | $1,294 | +1.97% |
| 2026-01 | $1,269 | -0.16% |
| 2025-12 | $1,271 | +0.32% |
| 2025-11 | $1,267 | -0.39% |
| 2025-10 | $1,272 | +0.79% |
| 2025-09 | $1,262 | +1.12% |
| 2025-08 | $1,248 | +1.30% |
| 2025-07 | $1,232 | -0.16% |
| 2025-06 | $1,234 | +0.08% |
| 2025-05 | $1,233 | -0.32% |
| 2025-04 | $1,237 | -0.16% |
| 2025-03 | $1,239 | -0.24% |
| 2025-02 | $1,242 | +2.99% |
| 2025-01 | $1,206 | +0.92% |
| 2024-12 | $1,195 | +1.36% |
| 2024-11 | $1,179 | -1.34% |
| 2024-10 | $1,195 | +0.76% |
| 2024-09 | $1,186 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
Compare All Cities
Open Full Rent Tracker →Other Cities
Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices