Draper, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Draper, UT Real Estate Data


Draper Housing Market Information

With a population of 46,774, 12,287 total housing units (homes and apartments), and a median house value of $487,091, Draper house prices are not only among the most expensive in Utah, Draper real estate also is some of the most expensive in all of America.

Draper is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Draper than is found in 98% of the communities in America.

The large homes that make up Draper are primarily owner-occupied ( 73.50%).

Draper homes and real estate are some of the newest in America. 48.63% of Draper's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Draper real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 45.46%), and between 1940-1969 ( 3.70%). There's also some housing in Draper built before 1939 ( 2.21%).

Draper Home Appreciation Rates

Appreciation rates for homes in Draper have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.98%, which ranks in the top 40% nationwide. This equates to an annual average Draper house appreciation rate of 0.77%.

Appreciation rates are so strong in Draper that despite a nationwide downturn in the housing market, Draper real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Draper appreciation rates continue to be some of the highest in America, at 7.99%, which is higher than appreciation rates in 91.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Draper. Draper appreciation rates in the latest quarter were at 3.09%, which equates to an annual appreciation rate of 12.95%.

Importantly, this makes Draper one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Utah, our data show that Draper's latest annual appreciation rate is higher 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 Draper differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Draper - 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 Draper real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$487,091

Draper, UT HOME PRICES

Value Range
> $1,267,000 3.0
$950,001 - $1,267,000 4.4
$634,001 - $950,000 17.7
$507,001 - $634,000 19.1
$380,001 - $507,000 24.9
$253,001 - $380,000 17.5
$127,001 - $253,000 10.0
$63,001 - $127,000 1.0
$0 - $63,000 2.4

Very High for UT
Very High for Nation

Value Relative to Nation Value Relative to State
6.54681735667857 3.35570469798658

Number Of Homes And Apartments:
12,287

Rent & Ownership

 

Average Market Rent:
$1,665 / per month

Homeownership Rate

Homeownership
Owners 73.50
Renters 26.50
Vacant 6.54

Housing Market Details

 

Age of Homes

AGE OF Draper HOMES
2000 or Newer 48.6
1970 - 1999 45.5
1940 - 1969 3.7
1939 or Older 2.2

Types of Homes

TYPE OF Draper HOMES
Single-Family 76.1
Townhomes 11.2
Small Apt. Buildings 2.2
Apt. Complexes 10.3
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Draper HOMES
No Bedroom 0.99
1 Bedroom 3.17
2 Bedrooms 11.57
3 Bedrooms 26.26
4 Bedrooms 23.30
5 or more bedrooms 34.71

Draper 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
57.17% 2.70% 7 7
* 10 is highest