Richfield, UT


Highest Appreciating Richfield Neighborhoods Since 2000

Richfield, 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

Richfield Housing Market Information

With a population of 7,592, 2,504 total housing units (homes and apartments), and a median house value of $181,355, Richfield real estate values are some of the lowest in Utah, although compared to real estate around the nation, Richfield homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Richfield, accounting for 76.05% of the city's housing units. Other types of housing that are prevalent in Richfield include large apartment complexes or high rise apartments ( 8.65%), mobile homes or trailers ( 6.46%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.67%).

The most prevalent building size and type in Richfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.30% owning and 38.70% renting.

There is a lot of housing in Richfield 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 Richfield built between 1940-1969 ( 24.13%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.47%). There's also some housing in Richfield built before 1939 ( 13.21%).

Vacant housing appears to be an issue in Richfield. Fully 10.09% of the housing stock is classified as vacant. Left unchecked, vacant Richfield homes and apartments can be a drag on the real estate market, holding Richfield real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Richfield Home Appreciation Rates

Appreciation rates for homes in Richfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.84%, which ranks in the top 50% nationwide. This equates to an annual average Richfield house appreciation rate of 0.18%.

Appreciation rates are so strong in Richfield that despite a nationwide downturn in the housing market, Richfield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Richfield appreciation rates continue to be some of the highest in America, at 8.34%, which is higher than appreciation rates in 88.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Richfield. Richfield appreciation rates in the latest quarter were at 0.44%, which equates to an annual appreciation rate of 1.77%.

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

Average Home Values


Median Home Value:


Value Range
> $1,148,000 2.2
$862,001 - $1,148,000 0.0
$574,001 - $862,000 0.5
$460,001 - $574,000 1.0
$345,001 - $460,000 7.3
$230,001 - $345,000 23.8
$115,001 - $230,000 42.8
$57,001 - $115,000 14.8
$0 - $57,000 7.6

Very Low for UT
High for Nation

Value Relative to Nation Value Relative to State
37.677253017696 81.8791946308725

Number Of Homes And Apartments:

Richfield Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
39.75% 1.96% 2 5
* 10 is highest

Rent & Ownership


Average Market Rent:
$856 / per month

Homeownership Rate

Owners 61.30
Renters 38.70
Vacant 10.09

Housing Market Details


Age of Homes

AGE OF Richfield HOMES
2000 or Newer 14.5
1970 - 1999 48.2
1940 - 1969 24.1
1939 or Older 13.2

Types of Homes

Single-Family 76.1
Townhomes 3.2
Small Apt. Buildings 5.7
Apt. Complexes 8.7
Mobile Homes 6.5
Other 0.0

Home Size

No Bedroom 2.15
1 Bedroom 7.68
2 Bedrooms 21.65
3 Bedrooms 32.71
4 Bedrooms 21.01
5 or more bedrooms 14.79

Popular Neighborhoods in Richfield

Popular Communities Near Richfield, UT

Zip Codes in Richfield, UT