Midvale, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Midvale, 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

Midvale Housing Market Information

With 32,613 people, 11,753 houses or apartments, and a median cost of homes of $234,615, Midvale real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Midvale, accounting for 39.44% of the city's housing units. Other types of housing that are prevalent in Midvale include single-family detached homes ( 36.94%), duplexes, homes converted to apartments or other small apartment buildings ( 11.59%), and a few row houses and other attached homes ( 11.49%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Midvale primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Midvale has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Midvale 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 Midvale built between 1940-1969 ( 27.29%). A lesser amount of the housing stock also hails from between 2000 and later ( 23.90%). There's also some housing in Midvale built before 1939 ( 5.07%).

Midvale Home Appreciation Rates

Appreciation rates for homes in Midvale have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.64%, which ranks in the top 30% nationwide. This equates to an annual average Midvale house appreciation rate of 1.38%.

Appreciation rates are so strong in Midvale that despite a nationwide downturn in the housing market, Midvale real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Midvale appreciation rates continue to be some of the highest in America, at 10.22%, which is higher than appreciation rates in 94.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Midvale. Midvale 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 Midvale'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 Midvale's latest annual appreciation rate is higher than 90% 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 Midvale differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Midvale - 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 Midvale real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$234,615

Midvale, UT HOME PRICES

Value Range
> $1,281,000 0.0
$961,001 - $1,281,000 0.1
$640,001 - $961,000 0.6
$513,001 - $640,000 0.1
$384,001 - $513,000 6.9
$256,001 - $384,000 35.1
$128,001 - $256,000 48.7
$64,001 - $128,000 3.5
$0 - $64,000 4.9

Average for UT
High for Nation

Value Relative to Nation Value Relative to State
24.9619125747099 55.7046979865772

Number Of Homes And Apartments:
11,753

Midvale 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
64.58% 2.93% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,294 / per month

Homeownership Rate

Homeownership
Owners 44.17
Renters 55.83
Vacant 6.04

Housing Market Details

 

Age of Homes

AGE OF Midvale HOMES
2000 or Newer 23.9
1970 - 1999 43.7
1940 - 1969 27.3
1939 or Older 5.1

Types of Homes

TYPE OF Midvale HOMES
Single-Family 36.9
Townhomes 11.5
Small Apt. Buildings 11.6
Apt. Complexes 39.4
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Midvale HOMES
No Bedroom 1.56
1 Bedroom 15.01
2 Bedrooms 36.50
3 Bedrooms 26.79
4 Bedrooms 14.65
5 or more bedrooms 5.49