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Pleasant Grove, 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 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Pleasant Grove, UT Housing Market Trends

With a population of 37,726, 11,733 total housing units (homes and apartments), and a median house value of $497,919, real estate costs in Pleasant Grove 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.

Single-family detached homes are the single most common housing type in Pleasant Grove, accounting for 60.64% of the city's housing units. Other types of housing that are prevalent in Pleasant Grove include large apartment complexes or high rise apartments ( 23.16%), duplexes, homes converted to apartments or other small apartment buildings ( 8.46%), and a few row houses and other attached homes ( 6.93%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pleasant Grove. Owner-occupied housing accounts for 67.35% of Pleasant Grove's homes, and 46.83% have either three or four bedrooms, which is average sized relative to America.

Pleasant Grove homes and real estate are some of the newest in America. 43.97% of Pleasant Grove'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 Pleasant Grove real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 43.59%), and between 1940-1969 ( 9.90%). There's also some housing in Pleasant Grove built before 1939 ( 2.55%).

Pleasant Grove Home Appreciation Rates

In the last 10 years, Pleasant Grove has experienced some of the highest home appreciation rates of any community in the nation. Pleasant Grove real estate appreciated 143.05% over the last ten years, which is an average annual home appreciation rate of 9.29%, putting Pleasant Grove in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pleasant Grove 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 Pleasant Grove that despite a nationwide downturn in the housing market, Pleasant Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pleasant Grove appreciation rates continue to be some of the highest in America, at 17.15%, which is higher than appreciation rates in 72.00% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pleasant Grove. Pleasant Grove appreciation rates in the latest quarter were at 3.64%, which equates to an annual appreciation rate of 15.39%.

Relative to Utah, our data show that Pleasant Grove's latest annual appreciation rate is lower than 70% 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 Pleasant Grove differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pleasant Grove - 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 Pleasant Grove real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$497,919

Pleasant Grove, UT HOME PRICES

> $1,576,000
$1,182,001 - $1,576,000
$788,001 - $1,182,000
$631,001 - $788,000
$473,001 - $631,000
$315,001 - $473,000
$158,001 - $315,000
$79,001 - $158,000
$0 - $79,000
0.8%
0.8%
2.3%
2.3%
8.7%
8.7%
10.5%
10.5%
30.5%
30.5%
30.8%
30.8%
13.6%
13.6%
1.1%
1.1%
1.6%
1.6%
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:
11,733

Pleasant Grove Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
170.14% 4.52%
3
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,960 / per month

Homeownership Rate

Owners
Renters
Vacant
67.4%
67.4%
32.6%
32.6%
2.7%
2.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
44.0%
44.0%
43.6%
43.6%
9.9%
9.9%
2.5%
2.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
60.6%
60.6%
6.9%
6.9%
8.5%
8.5%
23.2%
23.2%
0.8%
0.8%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.3%
1.3%
6.5%
6.5%
18.0%
18.0%
29.7%
29.7%
17.1%
17.1%
27.4%
27.4%
0.0% 100.0%
% OF HOMES