Mortgage Lender in Farmington, MI
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Tucked along the Rouge River in southwestern Oakland County, Farmington’s 48335 ZIP wraps around one of metro Detroit’s most intact 19th-century main streets, roughly 160 shops, the Governor Warner Mansion, and the long-running Farmington Civic Theater that has lit up the historic district since the 1940s. The local economy leans on healthcare giant Corewell Health (the former Beaumont), the nearby Robert Bosch North American campus, and Farmington Public Schools. The City of Farmington counts about 11,540 residents, though 48335 spills into part of Farmington Hills, so the true ZIP population runs larger. Median household income sits at $97,750. Buyers are drawn by a walkable downtown, Riley Park, the Saturday farmers market, and quick access to Southfield and Novi job centers, demand that keeps this small market punching well above its size.
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The typical home in 48335 is valued around $362,000 per Zillow, with recent Redfin median sale prices closer to $374,000. Zillow pegs year-over-year appreciation near +14.3% and projects another roughly 13% ahead, but the picture is volatile, a recent Redfin monthly reading swung -17%, so treat the YoY figure as directional, not precise. Speed is the real story: homes typically go pending in about 20 days, and the most coveted listings sell near 4% over asking and go under contract in roughly 9 days. The pull of a preserved historic downtown, mature tree-lined subdivisions, and strong schools keeps inventory tight and competition steady throughout 48335.
The typical home in ZIP 48336 sits around $251,000 per Zillow, up a striking 16.2% year over year, making this one of Farmington’s more attainable pockets, even as city-wide median sale prices climb toward $330,000 for larger, updated homes. Inventory is thin, often only a couple dozen active listings, and well-priced properties move fast: Farmington averages about 22 days on market in 2026, with adjacent Farmington Hills tighter still near 17 days. Demand is driven by the walkable downtown core, mature tree-lined streets, the strong Farmington Public Schools district and quick freeway access to Metro Detroit jobs. Multiple-offer situations are common, so full pre-approval before you shop is essential.
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Farmington Real Estate & Mortgage Overview
To comfortably carry the ~$365,000 median home you’ll want roughly $105,000-$120,000 in household income, assuming 10-20% down, a rate near 6.8%, and a 28% front-end DTI, a touch above Farmington’s $97,750 median, so a larger down payment or co-borrower helps. Budget for property taxes: Farmington’s effective rate is about 1.39%, above Michigan’s ~1.05% median, with Farmington Public Schools millage near 36.8 mills homestead / 49.3 non-homestead, roughly $5,000 a year on a median home. First-time buyers should explore MSHDA down-payment assistance. Most 48335 prices sit comfortably under conforming loan limits, so conventional and FHA financing fit the bulk of this market, with jumbo only relevant on higher-end Strathmore or Glen Orchard homes.
What it's Like to Live in Farmington
- Downtown Farmington / Historic District (~$250,000-$450,000): walkable bungalows and historic homes steps from the main street, shops, and Civic Theater.
- Quakertown (~$200,000-$350,000): an established near-downtown pocket of modest single-family homes.
- Farmington Oaks (~$300,000-$500,000): a popular subdivision of mid-century and updated houses.
- Glen Orchard (~$300,000-$475,000): built on a former apple orchard, with mature lots and some original orchard trees still standing.
- Brookdale (~$130,000-$220,000, condos): a 1964 mid-rise condo community of about 104 units, the city’s entry-level price point.
- Strathmore / Chatham Hills (~$325,000-$525,000): desirable subdivisions along the Farmington/Farmington Hills edge of 48335.
All of 48335 is served by Farmington Public Schools, including Farmington High School. Downtown Detroit is about 22 miles southeast, roughly a 30-45 minute drive via I-696, M-5, and I-96.
- Downtown / Farmington Historic District (~$250,000-$450,000+): The original 1800s settlement core, with Greek Revival, Victorian, Gothic and bungalow homes within walking distance of Grand River shops and restaurants.
- Glen Orchard (~$230,000-$330,000): A mid-20th-century subdivision built on a former apple orchard, some yards still have the apple trees.
- Green Valley Estates (~$280,000-$420,000): A 143-home subdivision of cape cod, contemporary and colonial homes with a park-like setting, hardwood floors and mature trees.
- Chatham Hills (~$250,000-$380,000): A quiet, well-maintained family neighborhood with mature streets and strong owner-occupancy.
- Floral Park (~$220,000-$320,000): An established near-downtown pocket of modest ranches and bungalows popular with first-time buyers.
All of 48336 falls within Farmington Public Schools, which serves Farmington, most of Farmington Hills and a sliver of West Bloomfield, about 9,100 students across two high schools, three middle schools, nine elementaries and a K-8 STEAM school, spending roughly $15,700 per student. Downtown Detroit is about 20-25 miles away, a 30-35 minute drive via I-696/M-10 (the Lodge) or Grand River Avenue, or roughly 45-50 minutes by SMART bus.
Farmington covers residential ZIP codes 48335 and 48336.
The Process
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- Explore Your Loan Options - We take the time to explain the different mortgage programs you qualify for, including fees, taxes, and insurance.
- Customize Your Rate - We work with top lenders to ensure you get a mortgage rate that fits your financial goals.
- Fast & Easy Pre-Approval - Get pre-approved in minutes and gain the confidence to shop for your dream home!
Find the Right Agent & Start Shopping for Your Dream Home!
- Expert Representation - Agent compensation is agreed in writing before you start touring, so you know that cost up front and can build it into your offer.
- Seamless Home Research - We’ll connect you with a trusted agent to make your homebuying journey as smooth as possible.
- The Fun Begins - Shopping for your new home is an exciting experience-picture your future, explore possibilities, and find the perfect fit for your family.
Make an Offer & Close on Your Mortgage - Fast!
- Strategic Offer Support -We collaborate with your agent to ensure your offer is as strong as possible.
- Fast & Efficient Closing - Once your offer is accepted, we work to close your mortgage in less than two weeks.
- Move Into Your Dream Home - Before you know it, the keys are in your hand and you’re settling in!
Farmington Mortgage FAQ's
What is the median home price in Farmington, MI 48335?
As of 2026 the typical home value in 48335 is around $362,000 per Zillow, with recent Redfin median sale prices near $374,000. Entry-level condos (for example in the Brookdale community) can start in the low $100,000s, while larger single-family homes in subdivisions like Farmington Oaks or Glen Orchard can run $400,000 and up.
How fast are homes selling in the 48335 ZIP code?
Quickly. The 48335 market is very competitive, homes typically go pending in about 20 days and sell near list price, while the most desirable ‘hot’ homes can sell about 4% over list and go pending in roughly 9 days. Buyers should be prepared to move fast and get pre-approved before touring.
What are the property taxes like in Farmington, MI?
Farmington’s median effective property tax rate is about 1.39%, higher than Michigan’s statewide median of roughly 1.05%. For Farmington Public Schools, total millage runs about 36.8 mills on a homestead (primary residence) and around 49.3 mills non-homestead. On a ~$365,000 home that’s roughly $5,000 a year, though Michigan caps annual taxable-value increases for owners who stay in their home.
How much income do I need to buy a median-priced home in 48335?
Plan on roughly $105,000-$120,000 in household income to comfortably afford the ~$365,000 median home, assuming about 10-20% down, a rate near 6.8%, and standard 28% front-end debt-to-income limits. That’s slightly above Farmington’s median household income of $97,750, so a larger down payment or a co-borrower helps. First-time buyers may qualify for MSHDA down-payment assistance to bridge the gap.
What school district serves Farmington 48335?
Homes in 48335 are served by Farmington Public Schools, which operates schools including Farmington High School and is one of the area’s largest employers. The district placed a regional enhancement millage on the August 4, 2026 ballot, worth factoring into your long-term tax estimate when buying here.
Are there first-time-buyer programs that work here?
Yes. Buyers in Farmington can use MSHDA (Michigan State Housing Development Authority) down-payment assistance, plus FHA loans (3.5% down) and conventional 3%-down options. The 48336 area’s mix of starter-friendly neighborhoods like Floral Park and Glen Orchard, with homes in the $220,000s-$330,000s, pairs well with these programs. Ask your lender to run both FHA and conventional scenarios.
What's the commute from Farmington to downtown Detroit?
Farmington sits about 22 miles northwest of downtown Detroit, roughly a 30-45 minute drive via I-696, M-5, and I-96 depending on traffic. Many residents also commute to nearby job centers in Southfield, Novi, and Ann Arbor, and the Bosch and Mercedes-Benz Financial campuses are minutes away in Farmington Hills.
Our Service Areas
Michigan Counties We Serve: Genesee, Lapeer, Lenawee, Livingston, Macomb, Monroe, Oakland, Saint Clair, Washtenaw, Wayne
If you’re in or around any of the locations listed above, Align Lending  has you covered! Contact us to make a service appointment now!
