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
With a population of 31,806, 9,887 total housing units (homes and apartments), and a median house value of $278,575, 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 56.22% of the city's housing units. Other types of housing that are prevalent in Cedar City include large apartment complexes or high rise apartments ( 19.88%), duplexes, homes converted to apartments or other small apartment buildings ( 9.92%), and a few row houses and other attached homes ( 9.82%).
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 53.62% owning and 46.38% 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 ( 33.29%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.86%). There's also some housing in Cedar City built before 1939 ( 5.12%).
Vacant housing appears to be an issue in Cedar City. Fully 12.86% 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.
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 16.98%, which ranks in the top 50% nationwide. This equates to an annual average Cedar City house appreciation rate of 1.58%.
Appreciation rates are so strong in Cedar City that despite a nationwide downturn in the housing market, Cedar City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cedar City appreciation rates continue to be some of the highest in America, at 7.80%, which is higher than appreciation rates in 94.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cedar City. Cedar City appreciation rates in the latest quarter were at 1.58%, which equates to an annual appreciation rate of 6.47%.
Relative to Utah, our data show that Cedar City's latest annual appreciation rate is higher than 60% 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.
|$1,032,001 - $1,377,000||0.4|
|$688,001 - $1,032,000||1.0|
|$550,001 - $688,000||2.9|
|$413,001 - $550,000||17.5|
|$275,001 - $413,000||24.9|
|$138,001 - $275,000||43.0|
|$69,001 - $138,000||5.3|
|$0 - $69,000||4.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
2000 Q1 - 2019 Q2
|* 10 is highest|
|AGE OF Cedar City HOMES|
|2000 or Newer||33.3|
|1970 - 1999||45.7|
|1940 - 1969||15.9|
|1939 or Older||5.1|
|TYPE OF Cedar City HOMES|
|Small Apt. Buildings||9.9|
|SIZE OF Cedar City HOMES|
|5 or more bedrooms||18.07|