Herriman, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Herriman Neighborhoods Since 2000




Herriman, 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

Herriman Housing Market Information

With 30,835 people, 6,644 houses or apartments, and a median cost of homes of $326,308, Herriman house prices are not only among the most expensive in Utah, Herriman real estate also is some of the most expensive in all of America.

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

The large homes that make up Herriman are primarily owner-occupied ( 77.77%).

Herriman homes and real estate are some of the newest in America. 79.35% of Herriman'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 Herriman real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 15.38%), and before 1939 ( 2.69%). There's also some housing in Herriman built between 1940-1969 ( 2.58%).

Herriman Home Appreciation Rates

Appreciation rates for homes in Herriman have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.79%, which ranks in the top 50% nationwide. This equates to an annual average Herriman house appreciation rate of 0.37%.

Appreciation rates are so strong in Herriman that despite a nationwide downturn in the housing market, Herriman real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Herriman appreciation rates continue to be some of the highest in America, at 8.29%, which is higher than appreciation rates in 88.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Herriman. Herriman appreciation rates in the latest quarter were at 2.95%, which equates to an annual appreciation rate of 12.32%.

Importantly, NeighborhoodScout’s exclusive research found that Herriman'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 Herriman's latest annual appreciation rate is higher than 60% of the other cities and towns in Utah.

Average Home Values

 

Median Home Value:
$326,308

Herriman, UT HOME PRICES

Value Range
> $1,233,000 0.0
$925,001 - $1,233,000 1.4
$617,001 - $925,000 6.0
$493,001 - $617,000 9.8
$370,001 - $493,000 27.3
$246,001 - $370,000 41.7
$123,001 - $246,000 11.3
$62,001 - $123,000 0.1
$0 - $62,000 2.4

Very High for UT
Very High for Nation

Value Relative to Nation Value Relative to State
14.0249619125747 18.4563758389262

Number Of Homes And Apartments:
6,644

Herriman 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
63.63% 2.90% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,411 / per month

Homeownership Rate

Homeownership
Owners 77.77
Renters 22.23
Vacant 8.71

Housing Market Details

 

Age of Homes

AGE OF Herriman HOMES
2000 or Newer 79.3
1970 - 1999 15.4
1940 - 1969 2.6
1939 or Older 2.7

Types of Homes

TYPE OF Herriman HOMES
Single-Family 74.4
Townhomes 5.8
Small Apt. Buildings 2.4
Apt. Complexes 15.3
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Herriman HOMES
No Bedroom 0.00
1 Bedroom 4.08
2 Bedrooms 15.17
3 Bedrooms 29.58
4 Bedrooms 17.89
5 or more bedrooms 33.28