The typical owner-occupied home in Many Farms is worth about $56,900, 86% below the Arizona median of $394,500 and 83% below the national median of $332,700. The median household earns $32,981 a year, so the median home costs 1.7 times the median income (4.9 times for Arizona). 57% of occupied homes here are lived in by their owners, and 5% of those owners still have a mortgage.
Many Farms at a glance
| Many Farms | Arizona | U.S. | |
|---|---|---|---|
| Median home value | $56,900 | $394,500 | $332,700 |
| Median property tax paid per year | – | $1,879 | $3,119 |
| Median household income | $32,981 | $79,964 | $80,734 |
| Homes lived in by their owners | 57% | 67% | 65% |
| Owner homes with a mortgage | 5% | 62% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,803 | $1,963 |
| Median rent | $920 | $1,543 | $1,413 |
| Rent as a share of renters' income | 20.8% | 30.8% | 30.6% |
| Median year homes were built | 1989 | 1992 | 1980 |
| Vacant homes | 22.9% | 10.5% | 10.1% |
| Population | 876 | 7,378,838 | 334,922,499 |
What a typical home costs per month in Many Farms
At this week's average 30-year rate of 7.11%, buying the median Many Farms home of $56,900 with 20% down costs about $382 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $477, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $16,375 for the 20%-down payment. That payment is 14% of the median Many Farms household income of $32,981; at that income and 20% down, the 28% guideline points to a home of about $115,000.
The median rent here is $920 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $11,380 |
|---|---|
| Loan amount | $45,520 |
| Principal and interest | $306 |
| Property taxes (1.10% a year) | $52 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| PMI | $0 |
| Total per month | $382 |
Change the numbers in the calculator
| Down payment | $1,992 |
|---|---|
| Loan amount | $55,869 |
| Principal and interest | $376 |
| Property taxes (1.10% a year) | $52 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| FHA mortgage insurance | $25 |
| Total per month | $477 |
Change the numbers in the calculator
Questions about home buying in Many Farms
What is the median home value in Many Farms?
About $56,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Many Farms?
For the median home with 20% down at 7.11%, the payment is about $382 a month. Keeping that under 28% of gross income takes about $16,375 a year.
More about Many Farms
- Mortgage Refinance in Many Farms
- Debt Relief in Many Farms
- Home Equity Loans in Many Farms
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data