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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (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 30,184, 9,548 total housing units (homes and apartments), and a median house value of $221,310, 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 53.45% of the city's housing units. Other types of housing that are prevalent in Cedar City include large apartment complexes or high rise apartments ( 19.11%), duplexes, homes converted to apartments or other small apartment buildings ( 12.90%), and a few row houses and other attached homes ( 9.53%).

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 53.14% owning and 46.86% 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 ( 30.98%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.55%). There's also some housing in Cedar City built before 1939 ( 5.15%).

Vacant housing appears to be an issue in Cedar City. Fully 12.74% 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 23.93% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Cedar City home appreciation rates at 0.44%, which equates to an annual appreciation rate of 1.77%.

NeighborhoodScout's data show that during the latest twelve months, Cedar City's appreciation rate, at 4.97%, has been at or slightly above the national average. In the latest quarter, Cedar City's appreciation rate has been 0.44%, which annualizes to a rate of 1.77%.

Relative to Utah, our data show that Cedar City'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 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:
$221,310

Cedar City, UT HOME PRICES

Value Range
> $1,208,000 0.0
$907,001 - $1,208,000 0.3
$604,001 - $907,000 1.1
$483,001 - $604,000 4.0
$363,001 - $483,000 10.5
$242,001 - $363,000 22.9
$121,001 - $242,000 41.8
$61,001 - $121,000 12.3
$0 - $61,000 7.2

Average for UT
High for Nation

Value Relative to Nation Value Relative to State
27.4639634360717 59.7315436241611

Number Of Homes And Apartments:
9,548

Cedar City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
41.02% 2.01% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$701 / per month

Homeownership Rate

Homeownership
Owners 53.14
Renters 46.86
Vacant 12.74

Housing Market Details

 

Age of Homes

AGE OF Cedar City HOMES
2000 or Newer 31.0
1970 - 1999 48.3
1940 - 1969 15.5
1939 or Older 5.1

Types of Homes

TYPE OF Cedar City HOMES
Single-Family 53.5
Townhomes 9.5
Small Apt. Buildings 12.9
Apt. Complexes 19.1
Mobile Homes 5.0
Other 0.0

Home Size

SIZE OF Cedar City HOMES
No Bedroom 3.63
1 Bedroom 7.95
2 Bedrooms 19.88
3 Bedrooms 38.26
4 Bedrooms 15.56
5 or more bedrooms 14.72

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Zip Codes in Cedar City, UT