Providence, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Providence, UT Real Estate Data


Providence Housing Market Information

With 7,124 people, 2,171 houses or apartments, and a median cost of homes of $252,750, Providence real estate prices are well above average cost compared to national prices.

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

The large homes that make up Providence are primarily owner-occupied ( 80.35%).

Providence homes and real estate are some of the newest in America. 42.30% of Providence'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 Providence real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 38.39%), and between 1940-1969 ( 12.09%). There's also some housing in Providence built before 1939 ( 7.21%).

Providence Home Appreciation Rates

Appreciation rates for homes in Providence have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.31%, which ranks in the top 30% nationwide. This equates to an annual average Providence house appreciation rate of 1.26%.

NeighborhoodScout's data show that during the latest twelve months, Providence's appreciation rate, at 5.67%, has been at or slightly above the national average. In the latest quarter, Providence's appreciation rate has been 2.08%, which annualizes to a rate of 8.59%.

Relative to Utah, our data show that Providence's latest annual appreciation rate is lower than 60% of the other cities and towns in Utah.

Average Home Values

 

Median Home Value:
$252,750

Providence, UT HOME PRICES

Value Range
> $1,152,000 0.2
$864,001 - $1,152,000 1.6
$576,001 - $864,000 3.1
$461,001 - $576,000 5.7
$346,001 - $461,000 11.7
$231,001 - $346,000 33.1
$115,001 - $231,000 35.4
$58,001 - $115,000 7.1
$0 - $58,000 2.3

Average for UT
High for Nation

Value Relative to Nation Value Relative to State
22.6913392282017 48.3221476510067

Number Of Homes And Apartments:
2,171

Rent & Ownership

 

Average Market Rent:
$1,114 / per month

Homeownership Rate

Homeownership
Owners 80.35
Renters 19.65
Vacant 4.53

Housing Market Details

 

Age of Homes

AGE OF Providence HOMES
2000 or Newer 42.3
1970 - 1999 38.4
1940 - 1969 12.1
1939 or Older 7.2

Types of Homes

TYPE OF Providence HOMES
Single-Family 77.1
Townhomes 12.6
Small Apt. Buildings 2.7
Apt. Complexes 6.4
Mobile Homes 0.2
Other 1.0

Home Size

SIZE OF Providence HOMES
No Bedroom 0.00
1 Bedroom 0.62
2 Bedrooms 13.63
3 Bedrooms 27.40
4 Bedrooms 24.14
5 or more bedrooms 34.21

Providence 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
39.70% 1.99% 3 5
* 10 is highest

Popular Neighborhoods in Providence

Zip Codes in Providence, UT