Herriman, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Herriman, UT Housing Market Trends

With a population of 51,348, 10,394 total housing units (homes and apartments), and a median house value of $457,766, real estate costs in Herriman are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Utah communities.

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 ( 87.48%).

Herriman homes and real estate are some of the newest in America. 86.20% 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 ( 10.72%), and before 1939 ( 2.25%).

Herriman Home Appreciation Rates

In the last 10 years, Herriman has experienced some of the highest home appreciation rates of any community in the nation. Herriman real estate appreciated 90.87% over the last ten years, which is an average annual home appreciation rate of 6.68%, putting Herriman in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Herriman 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 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 13.05%, which is higher than appreciation rates in 89.27% 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 4.35%, which equates to an annual appreciation rate of 18.56%.

Importantly, this makes Herriman 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 Herriman's latest annual appreciation rate is lower than 80% of the other cities and towns in Utah.

Average Home Values

 

Median Home Value:
$457,766

Herriman, UT HOME PRICES

> $1,345,000
0.4%
0.4%
$1,008,001 - $1,345,000
1.5%
1.5%
$672,001 - $1,008,000
12.7%
12.7%
$537,001 - $672,000
22.6%
22.6%
$403,001 - $537,000
30.8%
30.8%
$269,001 - $403,000
23.1%
23.1%
$134,001 - $269,000
5.3%
5.3%
$67,001 - $134,000
0.0%
0.0%
$0 - $67,000
3.6%
3.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for UT

Value Relative To Nation

Number Of Homes And Apartments:
10,394

Herriman Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
129.88% 3.95%
7
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,173 / per month

Homeownership Rate

Owners
87.5%
87.5%
Renters
12.5%
12.5%
Vacant
5.2%
5.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
86.2%
86.2%
1970 - 1999
10.7%
10.7%
1940 - 1969
0.8%
0.8%
1939 or Older
2.3%
2.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
69.5%
69.5%
Townhomes
15.9%
15.9%
Small Apt. Buildings
3.7%
3.7%
Apt. Complexes
7.3%
7.3%
Mobile Homes
3.6%
3.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.2%
0.2%
1 Bedroom
1.6%
1.6%
2 Bedrooms
11.5%
11.5%
3 Bedrooms
31.6%
31.6%
4 Bedrooms
22.5%
22.5%
5 or more bedrooms
32.6%
32.6%
0.0% 100.0%
% OF HOMES