Draper UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Draper, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Draper Housing Market Information

With 48,319 people, 13,542 houses or apartments, and a median cost of homes of $592,795, 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 ( 75.92%).

Draper homes and real estate are some of the newest in America. 54.95% 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 ( 39.89%), and between 1940-1969 ( 3.26%). There's also some housing in Draper built before 1939 ( 1.90%).

Draper Home Appreciation Rates

In the last 10 years, Draper has experienced some of the highest home appreciation rates of any community in the nation. Draper real estate appreciated 56.68% over the last ten years, which is an average annual home appreciation rate of 4.59%, putting Draper in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Draper 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 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 5.63%, which is higher than appreciation rates in 75.28% 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 1.04%, which equates to an annual appreciation rate of 4.22%.

Relative to Utah, our data show that Draper'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 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:
$592,795

Draper, UT HOME PRICES

Value Range
> $1,256,000 3.9
$942,001 - $1,256,000 9.1
$628,001 - $942,000 25.7
$502,001 - $628,000 18.3
$376,001 - $502,000 19.8
$251,001 - $376,000 15.4
$125,001 - $251,000 4.8
$63,001 - $125,000 0.7
$0 - $63,000 2.2

Very High for UT
Very High for Nation

Value Relative to Nation Value Relative to State
5.36642335766423 4.02684563758389

Number Of Homes And Apartments:
13,542

Draper Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
94.53% 3.30%
5
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,870 / per month

Homeownership Rate

Homeownership
Owners 75.92
Renters 24.08
Vacant 4.77

Housing Market Details

 

Age of Homes

AGE OF Draper HOMES
2000 or Newer 55.0
1970 - 1999 39.9
1940 - 1969 3.3
1939 or Older 1.9

Types of Homes

TYPE OF Draper HOMES
Single-Family 72.9
Townhomes 13.8
Small Apt. Buildings 3.0
Apt. Complexes 9.8
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Draper HOMES
No Bedroom 1.20
1 Bedroom 5.96
2 Bedrooms 9.02
3 Bedrooms 25.28
4 Bedrooms 23.61
5 or more bedrooms 34.93