Pleasant Grove, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Pleasant Grove, UT Real Estate Data


Pleasant Grove Housing Market Information

With a population of 38,052, 9,539 total housing units (homes and apartments), and a median house value of $287,626, 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 61.82% of the city's housing units. Other types of housing that are prevalent in Pleasant Grove include large apartment complexes or high rise apartments ( 17.38%), row houses and other attached homes ( 9.96%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.92%).

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 67.14% of Pleasant Grove's homes, and 52.55% 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 ( 38.03%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.18%). There's also some housing in Pleasant Grove built before 1939 ( 3.43%).

Pleasant Grove Home Appreciation Rates

Appreciation rates for homes in Pleasant Grove have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.28%, which ranks in the top 40% nationwide. This equates to an annual average Pleasant Grove house appreciation rate of 0.80%.

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 7.74%, which is higher than appreciation rates in 89.97% 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 2.56%, which equates to an annual appreciation rate of 10.66%.

Relative to Utah, our data show that Pleasant Grove's latest annual appreciation rate is higher than 60% 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:
$287,626

Pleasant Grove, UT HOME PRICES

Value Range
> $1,281,000 0.5
$961,001 - $1,281,000 0.5
$641,001 - $961,000 3.5
$512,001 - $641,000 5.9
$384,001 - $512,000 13.1
$256,001 - $384,000 32.4
$128,001 - $256,000 39.8
$64,001 - $128,000 0.9
$0 - $64,000 3.3

High for UT
Very High for Nation

Value Relative to Nation Value Relative to State
18.1413597236049 30.8724832214765

Number Of Homes And Apartments:
9,539

Rent & Ownership

 

Average Market Rent:
$1,412 / per month

Homeownership Rate

Homeownership
Owners 67.14
Renters 32.86
Vacant 3.51

Housing Market Details

 

Age of Homes

AGE OF Pleasant Grove HOMES
2000 or Newer 38.0
1970 - 1999 46.4
1940 - 1969 12.2
1939 or Older 3.4

Types of Homes

TYPE OF Pleasant Grove HOMES
Single-Family 61.8
Townhomes 10.0
Small Apt. Buildings 8.9
Apt. Complexes 17.4
Mobile Homes 1.5
Other 0.4

Home Size

SIZE OF Pleasant Grove HOMES
No Bedroom 0.62
1 Bedroom 3.65
2 Bedrooms 16.29
3 Bedrooms 34.17
4 Bedrooms 18.38
5 or more bedrooms 26.90

Pleasant Grove Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
43.23% 2.14% 4 5
* 10 is highest