Hyrum, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Hyrum Neighborhoods Since 2000




Hyrum, 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

Hyrum Housing Market Information

With a population of 7,962, 2,038 total housing units (homes and apartments), and a median house value of $190,538, Hyrum real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hyrum, accounting for 81.10% of the city's housing units. Other types of housing that are prevalent in Hyrum include mobile homes or trailers ( 8.58%), row houses and other attached homes ( 3.80%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.75%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hyrum. Owner-occupied housing accounts for 84.20% of Hyrum's homes, and 61.71% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hyrum 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 Hyrum built between 2000 and later ( 21.27%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.40%). There's also some housing in Hyrum built before 1939 ( 10.86%).

Hyrum Home Appreciation Rates

In the last 10 years, Hyrum has experienced some of the highest home appreciation rates of any community in the nation. Hyrum real estate appreciated 19.83% over the last ten years, which is an average annual home appreciation rate of 1.83%, putting Hyrum in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hyrum 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 Hyrum that despite a nationwide downturn in the housing market, Hyrum real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hyrum appreciation rates continue to be some of the highest in America, at 9.68%, which is higher than appreciation rates in 92.86% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hyrum. Hyrum appreciation rates in the latest quarter were at 3.43%, which equates to an annual appreciation rate of 14.45%.

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

Average Home Values

 

Median Home Value:
$190,538

Hyrum, UT HOME PRICES

Value Range
> $1,182,000 0.0
$886,001 - $1,182,000 0.1
$591,001 - $886,000 3.6
$472,001 - $591,000 0.9
$355,001 - $472,000 2.0
$236,001 - $355,000 19.5
$118,001 - $236,000 62.5
$59,001 - $118,000 4.7
$0 - $59,000 6.7

Low for UT
High for Nation

Value Relative to Nation Value Relative to State
34.7826086956522 74.496644295302

Number Of Homes And Apartments:
2,038

Hyrum 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
44.46% 2.16% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$948 / per month

Homeownership Rate

Homeownership
Owners 84.20
Renters 15.80
Vacant 8.94

Housing Market Details

 

Age of Homes

AGE OF Hyrum HOMES
2000 or Newer 21.3
1970 - 1999 54.5
1940 - 1969 13.4
1939 or Older 10.9

Types of Homes

TYPE OF Hyrum HOMES
Single-Family 81.1
Townhomes 3.8
Small Apt. Buildings 3.8
Apt. Complexes 2.8
Mobile Homes 8.6
Other 0.0

Home Size

SIZE OF Hyrum HOMES
No Bedroom 0.31
1 Bedroom 2.01
2 Bedrooms 14.75
3 Bedrooms 33.42
4 Bedrooms 28.28
5 or more bedrooms 21.22