Cedar City, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Cedar City Neighborhoods Since 2000




Cedar City, UT Real Estate Data


Cedar City Housing Market Information

With 30,184 people, 9,478 houses or apartments, and a median cost of homes of $216,498, 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 50.73% of the city's housing units. Other types of housing that are prevalent in Cedar City include large apartment complexes or high rise apartments ( 17.95%), duplexes, homes converted to apartments or other small apartment buildings ( 16.62%), and a few row houses and other attached homes ( 8.97%).

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 50.74% owning and 49.26% 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 ( 30.43%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.17%). There's also some housing in Cedar City built before 1939 ( 4.56%).

Vacant housing appears to be an issue in Cedar City. Fully 11.70% 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

Homes have actually lost value in Cedar City over the last then years, as home values have seen a decline of 24.23% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Cedar City home appreciation rates at -0.10%, which equates to an annual appreciation rate of -0.40%.

Over the last year, Cedar City appreciation rates have trailed the rest of the nation. In the last twelve months, Cedar City's appreciation rate has been 3.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cedar City were at -0.10%, which equates to an annual appreciation rate of -0.40%.

Notably, Cedar City's appreciation rate in the latest quarter is one of the lowest in America.

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:
$216,498

Cedar City, UT HOME PRICES

Value Range
> $1,220,000 0.3
$915,001 - $1,220,000 0.2
$610,001 - $915,000 0.9
$488,001 - $610,000 3.4
$366,001 - $488,000 10.9
$244,001 - $366,000 23.7
$122,001 - $244,000 41.4
$61,001 - $122,000 11.1
$0 - $61,000 8.1

Low for UT
High for Nation

Value Relative to Nation Value Relative to State
29.3142823680974 63.0872483221477

Number Of Homes And Apartments:
9,478

Rent & Ownership

 

Average Market Rent:
$847 / per month

Homeownership Rate

Homeownership
Owners 50.74
Renters 49.26
Vacant 11.70

Housing Market Details

 

Age of Homes

AGE OF Cedar City HOMES
2000 or Newer 30.4
1970 - 1999 49.8
1940 - 1969 15.2
1939 or Older 4.6

Types of Homes

TYPE OF Cedar City HOMES
Single-Family 50.7
Townhomes 9.0
Small Apt. Buildings 16.6
Apt. Complexes 18.0
Mobile Homes 5.7
Other 0.0

Home Size

SIZE OF Cedar City HOMES
No Bedroom 3.14
1 Bedroom 6.55
2 Bedrooms 22.42
3 Bedrooms 39.05
4 Bedrooms 14.92
5 or more bedrooms 13.91

Cedar City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
36.74% 1.86% 2 4
* 10 is highest

Popular Communities Near Cedar City, UT

Zip Codes in Cedar City, UT