Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 63,034 people, 25,500 houses or apartments, and a median cost of homes of $641,489, Millcreek house prices are not only among the most expensive in Utah, Millcreek real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Millcreek, accounting for 55.49% of the city's housing units. Other types of housing that are prevalent in Millcreek include large apartment complexes or high rise apartments ( 28.15%), row houses and other attached homes ( 9.49%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.11%).
The most prevalent building size and type in Millcreek are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.08% owning and 38.92% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Millcreek's housing was primarily built during this period, from the '40s through the '60s. A full 43.41% of the city's housing hails from this era. Other housing ages represented in Millcreek include homes built between 1970-1999 ( 38.15%) and housing constructed between 2000 and later ( 15.04%). There's also some housing in Millcreek built before 1939 ( 3.40%).
Appreciation rates for homes in Millcreek have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 106.11%, which ranks in the top 30% nationwide. This equates to an annual average Millcreek house appreciation rate of 7.50%.
Over the last year, Millcreek appreciation rates have trailed the rest of the nation. In the last twelve months, Millcreek's appreciation rate has been -1.47%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Millcreek were at -2.42%, which equates to an annual appreciation rate of -9.33%.
Notably, Millcreek's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Utah, our data show that Millcreek's latest annual appreciation rate is lower than 70% of the other cities and towns in Utah.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Millcreek differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Millcreek - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Millcreek real estate investment or home purchase decisions.
$641,489
for Utah
for nation
25,500
$1,897 / per month