Cedar City, 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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Cedar City, UT Housing Market Trends

With a population of 35,235, 10,914 total housing units (homes and apartments), and a median house value of $330,110, 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 54.30% of the city's housing units. Other types of housing that are prevalent in Cedar City include large apartment complexes or high rise apartments ( 18.70%), duplexes, homes converted to apartments or other small apartment buildings ( 12.03%), and a few row houses and other attached homes ( 12.02%).

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 53.16% owning and 46.84% 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 ( 34.50%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.90%). There's also some housing in Cedar City built before 1939 ( 2.71%).

Cedar City Home Appreciation Rates

In the last 10 years, Cedar City has experienced some of the highest home appreciation rates of any community in the nation. Cedar City real estate appreciated 126.83% over the last ten years, which is an average annual home appreciation rate of 8.54%, putting Cedar City in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cedar City 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 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 29.76%, which is higher than appreciation rates in 97.24% 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 11.54%, which equates to an annual appreciation rate of 54.76%.

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:
$330,110

Cedar City, UT HOME PRICES

> $1,537,000
$1,153,001 - $1,537,000
$769,001 - $1,153,000
$615,001 - $769,000
$461,001 - $615,000
$307,001 - $461,000
$154,001 - $307,000
$77,001 - $154,000
$0 - $77,000
0.1%
0.1%
0.3%
0.3%
3.2%
3.2%
5.1%
5.1%
16.0%
16.0%
35.5%
35.5%
31.4%
31.4%
2.0%
2.0%
6.4%
6.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for UT

Value Relative To Nation

Number Of Homes And Apartments:
10,914

Cedar City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
153.37% 4.32%
2
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,261 / per month

Homeownership Rate

Owners
Renters
Vacant
53.2%
53.2%
46.8%
46.8%
9.9%
9.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
34.5%
34.5%
47.9%
47.9%
14.9%
14.9%
2.7%
2.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
54.3%
54.3%
12.0%
12.0%
12.0%
12.0%
18.7%
18.7%
2.9%
2.9%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
6.5%
6.5%
20.7%
20.7%
36.7%
36.7%
16.7%
16.7%
17.3%
17.3%
0.0% 100.0%
% OF HOMES