Cedar City UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Cedar City, UT Real Estate Data

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 Q1 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cedar City Housing Market Information

With a population of 33,055, 10,347 total housing units (homes and apartments), and a median house value of $258,042, Cedar City real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cedar City, accounting for 55.92% of the city's housing units. Other types of housing that are prevalent in Cedar City include large apartment complexes or high rise apartments ( 19.01%), duplexes, homes converted to apartments or other small apartment buildings ( 10.92%), and a few row houses and other attached homes ( 10.62%).

The most prevalent building size and type in Cedar City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.34% owning and 47.66% renting.

There is a lot of housing in Cedar City 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 Cedar City built between 2000 and later ( 35.64%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.27%). There's also some housing in Cedar City built before 1939 ( 3.84%).

Vacant housing appears to be an issue in Cedar City. Fully 11.03% of the housing stock is classified as vacant. Left unchecked, vacant Cedar City homes and apartments can be a drag on the real estate market, holding Cedar City real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Cedar City Home Appreciation Rates

Appreciation rates for homes in Cedar City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 36.10%, which ranks in the top 40% nationwide. This equates to an annual average Cedar City house appreciation rate of 3.13%.

NeighborhoodScout's data show that during the latest twelve months, Cedar City's appreciation rate, at 6.07%, has been at or slightly above the national average. In the latest quarter, Cedar City's appreciation rate has been 2.84%, which annualizes to a rate of 11.84%.

Importantly, NeighborhoodScout’s exclusive research found that Cedar City's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Utah, our data show that Cedar City'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 Cedar City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cedar City - 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 Cedar City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$258,042

Cedar City, UT HOME PRICES

Value Range
> $1,283,000 0.0
$962,001 - $1,283,000 0.4
$642,001 - $962,000 2.1
$513,001 - $642,000 3.8
$385,001 - $513,000 16.5
$256,001 - $385,000 27.2
$128,001 - $256,000 39.1
$64,001 - $128,000 5.2
$0 - $64,000 5.6

Low for UT
High for Nation

Value Relative to Nation Value Relative to State
27.3576642335766 65.7718120805369

Number Of Homes And Apartments:
10,347

Cedar City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
83.89% 3.05%
2
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$920 / per month

Homeownership Rate

Homeownership
Owners 52.34
Renters 47.66
Vacant 11.03

Housing Market Details

 

Age of Homes

AGE OF Cedar City HOMES
2000 or Newer 35.6
1970 - 1999 44.2
1940 - 1969 16.3
1939 or Older 3.8

Types of Homes

TYPE OF Cedar City HOMES
Single-Family 55.9
Townhomes 10.6
Small Apt. Buildings 10.9
Apt. Complexes 19.0
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Cedar City HOMES
No Bedroom 3.24
1 Bedroom 7.57
2 Bedrooms 19.43
3 Bedrooms 37.43
4 Bedrooms 14.78
5 or more bedrooms 17.55

Popular Communities Near Cedar City, UT

Zip Codes in Cedar City, UT