Lehi UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Lehi, 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 Q3 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 about Scout's Real Estate Data

Lehi Housing Market Information

With 69,724 people, 15,922 houses or apartments, and a median cost of homes of $373,965, real estate costs in Lehi 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.

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

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lehi. Owner-occupied housing accounts for 80.91% of Lehi's homes, and 57.33% have either three or four bedrooms, which is average sized relative to America.

Lehi homes and real estate are some of the newest in America. 66.57% of Lehi'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 Lehi real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 22.84%), and between 1940-1969 ( 7.17%). There's also some housing in Lehi built before 1939 ( 3.43%).

Lehi Home Appreciation Rates

In the last 10 years, Lehi has experienced some of the highest home appreciation rates of any community in the nation. Lehi real estate appreciated 72.82% over the last ten years, which is an average annual home appreciation rate of 5.62%, putting Lehi in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lehi 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 Lehi that despite a nationwide downturn in the housing market, Lehi real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lehi appreciation rates continue to be some of the highest in America, at 5.85%, which is higher than appreciation rates in 85.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lehi. Lehi appreciation rates in the latest quarter were at 2.33%, which equates to an annual appreciation rate of 9.66%.

Importantly, this makes Lehi 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 Lehi's latest annual appreciation rate is lower than 80% 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 Lehi differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lehi - 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 Lehi real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$373,965

Lehi, UT HOME PRICES

Value Range
> $1,310,000 0.7
$982,001 - $1,310,000 0.6
$655,001 - $982,000 8.9
$524,001 - $655,000 15.2
$393,001 - $524,000 25.2
$262,001 - $393,000 34.4
$131,001 - $262,000 13.0
$65,001 - $131,000 0.8
$0 - $65,000 1.2

High for UT
Very High for Nation

Value Relative to Nation Value Relative to State
14.5810218978102 30.2013422818792

Number Of Homes And Apartments:
15,922

Lehi Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
106.16% 3.55%
7
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,894 / per month

Homeownership Rate

Homeownership
Owners 80.91
Renters 19.09
Vacant 3.58

Housing Market Details

 

Age of Homes

AGE OF Lehi HOMES
2000 or Newer 66.6
1970 - 1999 22.8
1940 - 1969 7.2
1939 or Older 3.4

Types of Homes

TYPE OF Lehi HOMES
Single-Family 80.6
Townhomes 8.3
Small Apt. Buildings 4.3
Apt. Complexes 5.7
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Lehi HOMES
No Bedroom 0.18
1 Bedroom 1.68
2 Bedrooms 10.45
3 Bedrooms 31.35
4 Bedrooms 25.98
5 or more bedrooms 30.37