Farmington, Minnesota Demographics & Population 2026
During the 2020–2024 ACS period, Farmington, Minnesota had a total population of 23,902, the 46th largest city in Minnesota, with a median household income of $123,673, which is 39% higher than the state average. The poverty rate is 5.1%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 39% above the state average — one of the wealthiest communities in Minnesota.
Farmington Quick Facts
How Farmington Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 23,675 | 23,902 | +1.0% |
| Median household income | $118,556 | $123,673 | +4.3% |
| Median home value | $345,100 | $366,200 | +6.1% |
How Farmington Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 41 | National average: 61
Education
Educational Attainment (Adults 25+)
Farmington Rankings in Minnesota
Explore Minnesota Rankings
Other Cities in Dakota County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Lakeville | 74,354 | $139,041 | 2.9% | $452,500 |
| Eagan | 68,000 | $108,690 | 5.9% | $397,100 |
| Burnsville | 64,463 | $87,024 | 10.8% | $355,200 |
| Apple Valley | 55,679 | $97,673 | 6.0% | $370,400 |
| Inver Grove Heights | 35,906 | $101,316 | 4.9% | $363,400 |
| Rosemount | 27,562 | $129,625 | 3.0% | $424,100 |
| Hastings | 22,117 | $93,998 | 5.4% | $322,400 |
| West St. Paul | 21,382 | $68,464 | 8.8% | $301,300 |
| Northfield | 20,742 | $84,895 | 8.8% | $329,400 |
| South St. Paul | 20,611 | $87,994 | 8.3% | $281,600 |
Cities Similar to Farmington
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Champlin | 23,294 | $116,102 | $358,700 | 36.9% | 7.2% |
| Otsego | 22,245 | $119,927 | $396,700 | 40.0% | 3.5% |
| Lino Lakes | 22,113 | $127,181 | $407,200 | 43.1% | 2.7% |
| Chanhassen | 26,006 | $143,651 | $566,300 | 64.1% | 2.9% |
| Golden Valley | 21,725 | $108,772 | $431,400 | 60.0% | 9.1% |
Population Overview
Farmington is a small city located in Minnesota, within Dakota County. The total population is 23,902. It ranks as the 46th most populous out of 914 Census-designated places in Minnesota.
Age Demographics
The median age in Farmington is 35.4 years. This is 9% lower than the state median of 38.8 years. With 29.1% of the population under 18, Farmington has a notably young demographic profile, suggesting a family-oriented community.
Economy, Income & Housing
The median household income in Farmington is $123,673. This is 39% higher than the state median of $89,062. It is also 53% higher than the national median of $80,734. The poverty rate stands at 5.1%. This is 45% lower than the state poverty rate of 9.3%. The unemployment rate is 3.4%. This is 16% lower than the state rate of 4.1%. The median home value is $366,200. Housing costs are 11% higher than the state median of $329,300. The home-value-to-income ratio is 3.0x. 86.5% of occupied housing units are owner-occupied. This homeownership rate is 20% higher than the state average of 72.2%.
Race & Ethnicity
The largest racial or ethnic group in Farmington is White (non-Hispanic), making up 81.2% of the population. Hispanic or Latino residents account for 6.2%.
Education
38.7% of residents aged 25 and older hold a bachelor's degree or higher. This is 2% lower than the state rate of 39.4%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 93.5%.
Data Sources & Methodology
All demographic data for Farmington, Minnesota is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Minnesota state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 914 Census-designated places in Minnesota. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Farmington, Minnesota?
Farmington, Minnesota has a population of 23,902 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Farmington, MN?
The median household income in Farmington is $123,673, which is 53% higher than the national median of $80,734.
What is the poverty rate in Farmington, MN?
The poverty rate in Farmington is 5.1%. This means approximately 1,206 residents live below the federal poverty line.
What is the racial makeup of Farmington, Minnesota?
Farmington's population is 81.2% White, 4.2% Black, 6.2% Hispanic/Latino, and 3.7% Asian.
What is the median home value in Farmington, MN?
The median home value in Farmington is $366,200. The home-value-to-income ratio is 3.0x.
How educated is Farmington, Minnesota?
38.7% of adults (25+) in Farmington hold a bachelor's degree or higher, and 7.9% hold a graduate or professional degree.