Farmington, New Mexico Short-Term Rental Market
Farmington, NM STRs averaged $137/night at 56.9% occupancy in April 2026 across 3,249 active listings.
Quick Answer: Farmington, New Mexico is an active short-term rental market. average occupancy is 61%. average monthly revenue is $2,483. average daily rate is $150. the top operator is Evolve with 102 listings. market score is 93/100 (grade A).
Market data reflects the New Mexico Area regional market, which includes Farmington. Regulations, taxes, and permit details below are specific to Farmington.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Farmington is the commercial hub of the Four Corners region in northwest New Mexico, serving as the basecamp for visitors to Aztec Ruins, Chaco Culture, Mesa Verde, and Four Corners Monument. With a population of 46,262, the city draws outdoor recreation visitors (San Juan River fly-fishers, off-roaders, mountain bikers) and cultural heritage travelers year-round. The STR market has 3,249 total tracked listings. In April 2026, average ADR was $137, occupancy was 56.9%, and RevPAR was $78.
Year-over-year metrics show a mixed picture: revenue grew modestly at 1.5%, and ADR improved 4.6%, while occupancy declined slightly by 1.4% compared to April 2025. This pattern indicates rates are being pushed upward as demand grows more selectively rather than broadly.
The listing mix is predominantly entire-place: 2,989 entire-place units (92.0% of listings), 257 private rooms, and 3 shared rooms. By bedroom count, 1-bedroom units lead at 1,236, followed by 2-bedrooms at 866, 3-bedrooms at 803, 4-bedrooms at 250, and 5-bedroom-plus at 88. Channel distribution: 965 dual-listed on both platforms, 2,097 Airbnb-exclusive, and 187 VRBO-exclusive. The market’s composite score of 93.1 reflects near-perfect seasonality (96.3), strong rental demand (90.0), and high investability (89.8), though the revenue growth score of 51.1 signals that year-over-year expansion has moderated.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 51% | $112 | $1,660 |
| Feb | 57% | $110 | $1,604 |
| Mar | 62% | $120 | $2,007 |
| Apr | 56% | $117 | $1,821 |
| May | 59% | $124 | $1,906 |
| Jun | 63% | $133 | $2,216 |
| Jul | 64% | $132 | $2,354 |
| Aug | 59% | $129 | $2,122 |
| Sep | 57% | $128 | $1,971 |
| Oct | 60% | $126 | $2,100 |
| Nov | 56% | $120 | $1,817 |
| Dec | 57% | $125 | $1,961 |
Top Short-Term Rental Operators in Farmington
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 102 | 5,901 | ★ 4.74 |
| 2 | Homee LLC. | 49 | 4,228 | ★ 4.89 |
| 3 | Cloudcroft Properties | 19 | 398 | ★ 4.48 |
| 4 | Glamping Hub International | 10 | 126 | ★ 4.99 |
| 5 | Branch Out Glamping | 6 | 34 | ★ 4.94 |
What Kind of STR Should I Buy in Farmington?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,236 |
| 2 bed | 866 |
| 3 bed | 803 |
| 4 bed | 250 |
| 5 bed | 88 |
ADR by Property Tier
| Entire Home | $155 |
| Luxury | $253 |
| Professionally Managed | $192 |
Revenue by Dwelling Type
| Apartment | $1,958 |
| Entire Place | $2,573 |
| House | $2,693 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 64.5% |
| vrbo | 5.8% |
| both | 29.7% |
Investment Analysis
Farmington’s investment case draws on its role as the primary commercial hub for the Four Corners region, a position that sustains year-round demand from both business travelers serving the energy sector and leisure visitors targeting the dense concentration of archaeological and outdoor recreation sites within a half-day’s drive. No housing value data was available in the most recent snapshot, so acquisition cost yield calculations cannot be stated for this market.
April 2026 revenue averaged $2,118 per listing per month, which annualizes to approximately $25,416 at current run-rate. The tier spread points to upside for higher-quality inventory. Standard entire-home ADR is $141. Professionally managed properties average $180 per night, a 31% premium over the all-market average of $137. The luxury tier reaches $224 per night. For investors targeting the professionally managed segment, the rate premium is meaningful given a market where absolute ADR is modest.
The annual trend shows growth through 2023 ($2,285/month average) followed by a modest softening: 2024 averaged $2,245 and 2025 averaged $2,259. Revenue did not decline significantly but the growth rate has flattened, consistent with the revenue growth score of 51.1. The investability score of 89.8 and rental demand of 90.0 suggest underlying demand fundamentals remain solid, with the moderated revenue growth reflecting market maturation rather than structural deterioration. Investors should monitor occupancy trends, as the 1.4% YoY decline in April occupancy suggests the market is absorbing incremental supply.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
In April 2026, Farmington bookings were made an average of 35 days in advance, with guests staying an average of 4.4 nights. The 35-day lead time is shorter than coastal or mountain resort markets, consistent with a regional hub market where a mix of spontaneous outdoor recreation trips, business travel, and event bookings drive demand. The compressed booking window suggests pricing strategies should focus on the 3-6 week forward window rather than locking rates months in advance.
The 4.4-night average stay is longer than typical urban short-term rental markets, reflecting that most visitors to Farmington are using the city as a multi-day base for reaching multiple sites: Aztec Ruins, Four Corners Monument, Bisti Badlands, San Juan River, and Mesa Verde can all be accessed in a single itinerary requiring 3-5 nights in the area. Minimum-stay policies of 3-4 nights during summer peak and the August Connie Mack tournament window align well with actual stay patterns and reduce turnover without creating significant vacancy risk.
Short-Term Rental Regulations
Farmington has one of the lightest STR regulatory environments in New Mexico, particularly compared to Santa Fe and Albuquerque. There is no dedicated short-term rental ordinance, no STR-specific permit, no owner-occupancy or primary-residence requirement, and no cap on rental nights identified in the city code.
The principal compliance obligation is tax-related. Under New Mexico SB 106 (effective January 1, 2020), vacation-rental operators must collect and remit lodgers’ tax. Properties within Farmington city limits remit the City of Farmington Lodgers’ Tax of 5%, due to the city Finance Division before the 20th of each month. In addition, STR income is subject to New Mexico Gross Receipts Tax (approximately 8% in the Farmington area), and operators must hold a City of Farmington business license and registration. Major platforms including Airbnb and VRBO may collect some taxes automatically, but hosts remain responsible for registration and proper remittance verification.
Enforcement is limited to tax compliance and general code and zoning rules rather than active STR-specific inspections or license caps. Investors should confirm allowed use for their parcel’s specific zoning district with the Farmington Planning Department and verify current lodgers’ tax filing procedures with the Finance Division directly, as administrative rules can change. No Farmington-specific STR ordinance changes were identified in the past 24 months.
Market Comparison
Farmington’s April 2026 ADR of $137 is below the U.S. STR median of approximately $220, reflecting its position as an affordable regional hub rather than a resort destination. Occupancy at 56.9% is slightly above the national median of roughly 55%, which is notable given that April is a moderate shoulder month even in this market. The 2025 annual average occupancy of 58.0% and ADR of $140 represent consistently solid metrics relative to market size.
The operator landscape is led by Evolve with 102 listings and 5,901 reviews (4.74 rating), the clear market-leader by both listing count and review volume. Homee LLC is second with 49 listings and a strong 4.89 rating (4,228 reviews). Cloudcroft Properties holds 19 listings (4.48 rating). The fourth and fifth positions are held by glamping-specific operators: Glamping Hub International (10 listings, 4.99 rating, 126 reviews) and Branch Out Glamping (6 listings, 4.94 rating, 34 reviews). The presence of glamping operators in the top-five ranking suggests meaningful outdoor-experience inventory demand in the Four Corners region, which may represent an underserved niche for investors considering non-traditional property types.
Frequently Asked Questions About Farmington, New Mexico
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