American Fork, UT Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

American Fork, UT Housing Market Trends

With a population of 33,161, 8,866 total housing units (homes and apartments), and a median house value of $355,396, American Fork real estate prices are well above average cost compared to national prices.

American Fork is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in American Fork than is found in 98% of the communities in America.

The large homes that make up American Fork are primarily owner-occupied ( 74.57%).

There is a lot of housing in American Fork built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in American Fork built between 2000 and later ( 30.82%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.80%). There's also some housing in American Fork built before 1939 ( 4.78%).

American Fork Home Appreciation Rates

In the last 10 years, American Fork has experienced some of the highest home appreciation rates of any community in the nation. American Fork real estate appreciated 70.33% over the last ten years, which is an average annual home appreciation rate of 5.47%, putting American Fork in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, American Fork definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in American Fork that despite a nationwide downturn in the housing market, American Fork real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, American Fork appreciation rates continue to be some of the highest in America, at 6.75%, which is higher than appreciation rates in 83.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in American Fork. American Fork appreciation rates in the latest quarter were at 2.40%, which equates to an annual appreciation rate of 9.94%.

Relative to Utah, our data show that American Fork's latest annual appreciation rate is lower than 80% 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 American Fork differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in American Fork - 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 American Fork real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$355,396

American Fork, UT HOME PRICES

> $1,241,000
0.4%
0.4%
$931,001 - $1,241,000
1.6%
1.6%
$621,001 - $931,000
7.6%
7.6%
$497,001 - $621,000
11.2%
11.2%
$372,001 - $497,000
27.5%
27.5%
$248,001 - $372,000
34.0%
34.0%
$124,001 - $248,000
14.9%
14.9%
$62,001 - $124,000
0.6%
0.6%
$0 - $62,000
2.2%
2.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for UT

Value Relative To Nation

Number Of Homes And Apartments:
8,866

American Fork Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
101.55% 3.39%
4
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,593 / per month

Homeownership Rate

Owners
74.6%
74.6%
Renters
25.4%
25.4%
Vacant
2.8%
2.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
30.8%
30.8%
1970 - 1999
45.6%
45.6%
1940 - 1969
18.8%
18.8%
1939 or Older
4.8%
4.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
71.1%
71.1%
Townhomes
10.7%
10.7%
Small Apt. Buildings
10.5%
10.5%
Apt. Complexes
6.1%
6.1%
Mobile Homes
1.5%
1.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.9%
0.9%
1 Bedroom
1.4%
1.4%
2 Bedrooms
18.0%
18.0%
3 Bedrooms
26.7%
26.7%
4 Bedrooms
22.1%
22.1%
5 or more bedrooms
30.9%
30.9%
0.0% 100.0%
% OF HOMES