Providence, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Providence, 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

Providence Housing Market Information

With 7,124 people, 2,224 houses or apartments, and a median cost of homes of $238,209, 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 ( 83.45%).

Providence homes and real estate are some of the newest in America. 41.46% 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 ( 37.86%), and between 1940-1969 ( 12.88%). There's also some housing in Providence built before 1939 ( 7.81%).

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 14.00%, which ranks in the top 30% nationwide. This equates to an annual average Providence house appreciation rate of 1.32%.

Appreciation rates are so strong in Providence that despite a nationwide downturn in the housing market, Providence real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Providence appreciation rates continue to be some of the highest in America, at 9.49%, which is higher than appreciation rates in 92.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Providence. Providence appreciation rates in the latest quarter were at 3.43%, which equates to an annual appreciation rate of 14.45%.

Importantly, this makes Providence one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Utah, our data show that Providence's latest annual appreciation rate is higher than 80% of the other cities and towns in Utah.

Average Home Values

 

Median Home Value:
$238,209

Providence, UT HOME PRICES

Value Range
> $1,177,000 0.3
$883,001 - $1,177,000 1.4
$588,001 - $883,000 2.3
$471,001 - $588,000 5.7
$353,001 - $471,000 12.7
$236,001 - $353,000 36.8
$118,001 - $236,000 31.8
$59,001 - $118,000 6.5
$0 - $59,000 2.6

Average for UT
High for Nation

Value Relative to Nation Value Relative to State
24.4169694128677 53.6912751677852

Number Of Homes And Apartments:
2,224

Providence 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
48.07% 2.30% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,019 / per month

Homeownership Rate

Homeownership
Owners 83.45
Renters 16.55
Vacant 3.56

Housing Market Details

 

Age of Homes

AGE OF Providence HOMES
2000 or Newer 41.5
1970 - 1999 37.9
1940 - 1969 12.9
1939 or Older 7.8

Types of Homes

TYPE OF Providence HOMES
Single-Family 80.5
Townhomes 11.5
Small Apt. Buildings 2.4
Apt. Complexes 5.4
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Providence HOMES
No Bedroom 0.00
1 Bedroom 1.78
2 Bedrooms 12.62
3 Bedrooms 25.20
4 Bedrooms 24.33
5 or more bedrooms 36.08

Popular Neighborhoods in Providence

Zip Codes in Providence, UT