Pleasant Grove UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Pleasant Grove, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Pleasant Grove Housing Market Information

With 38,428 people, 10,465 houses or apartments, and a median cost of homes of $351,386, Pleasant Grove real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Pleasant Grove, accounting for 62.36% of the city's housing units. Other types of housing that are prevalent in Pleasant Grove include large apartment complexes or high rise apartments ( 18.87%), duplexes, homes converted to apartments or other small apartment buildings ( 8.67%), and a few row houses and other attached homes ( 8.23%).

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 66.25% of Pleasant Grove's homes, and 50.37% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Pleasant Grove 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 Pleasant Grove built between 2000 and later ( 41.07%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.43%). There's also some housing in Pleasant Grove built before 1939 ( 4.10%).

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 52.35% over the last ten years, which is an average annual home appreciation rate of 4.30%, putting Pleasant Grove in the top 20% 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 6.58%, which is higher than appreciation rates in 87.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pleasant Grove. Pleasant Grove appreciation rates in the latest quarter were at 2.11%, which equates to an annual appreciation rate of 8.70%.

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:
$351,386

Pleasant Grove, UT HOME PRICES

Value Range
> $1,380,000 0.6
$1,036,001 - $1,380,000 0.9
$690,001 - $1,036,000 6.0
$552,001 - $690,000 7.5
$414,001 - $552,000 18.6
$276,001 - $414,000 33.3
$138,001 - $276,000 29.0
$69,001 - $138,000 1.5
$0 - $69,000 2.5

High for UT
Very High for Nation

Value Relative to Nation Value Relative to State
15.3401459854015 31.5436241610738

Number Of Homes And Apartments:
10,465

Pleasant Grove Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
85.93% 3.19%
4
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,400 / per month

Homeownership Rate

Homeownership
Owners 66.25
Renters 33.75
Vacant 2.64

Housing Market Details

 

Age of Homes

AGE OF Pleasant Grove HOMES
2000 or Newer 41.1
1970 - 1999 45.4
1940 - 1969 9.4
1939 or Older 4.1

Types of Homes

TYPE OF Pleasant Grove HOMES
Single-Family 62.4
Townhomes 8.2
Small Apt. Buildings 8.7
Apt. Complexes 18.9
Mobile Homes 1.1
Other 0.7

Home Size

SIZE OF Pleasant Grove HOMES
No Bedroom 0.71
1 Bedroom 5.21
2 Bedrooms 17.72
3 Bedrooms 31.64
4 Bedrooms 18.73
5 or more bedrooms 25.99