Saratoga Springs, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Saratoga Springs, 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 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

Saratoga Springs Housing Market Information

With 29,608 people, 6,058 houses or apartments, and a median cost of homes of $373,146, real estate costs in Saratoga Springs are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Utah communities.

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

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Saratoga Springs. Owner-occupied housing accounts for 82.14% of Saratoga Springs's homes, and 60.34% have either three or four bedrooms, which is average sized relative to America.

Saratoga Springs homes and real estate are some of the newest in America. 91.35% of Saratoga Springs'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 Saratoga Springs real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 7.88%), and between 1940-1969 ( 0.77%).

Saratoga Springs Home Appreciation Rates

Appreciation rates for homes in Saratoga Springs have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 22.88%, which ranks in the top 40% nationwide. This equates to an annual average Saratoga Springs house appreciation rate of 2.08%.

Appreciation rates are so strong in Saratoga Springs that despite a nationwide downturn in the housing market, Saratoga Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Saratoga Springs appreciation rates continue to be some of the highest in America, at 7.63%, which is higher than appreciation rates in 79.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Saratoga Springs. Saratoga Springs appreciation rates in the latest quarter were at 2.37%, which equates to an annual appreciation rate of 9.80%.

Importantly, this makes Saratoga Springs 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 Saratoga Springs's latest annual appreciation rate is lower than 90% of the other cities and towns in Utah.

Average Home Values

 

Median Home Value:
$373,146

Saratoga Springs, UT HOME PRICES

Value Range
> $1,239,000 1.4
$930,001 - $1,239,000 0.2
$620,001 - $930,000 2.7
$496,001 - $620,000 8.7
$372,001 - $496,000 34.1
$248,001 - $372,000 38.0
$124,001 - $248,000 13.2
$62,001 - $124,000 0.0
$0 - $62,000 1.7

High for UT
Very High for Nation

Value Relative to Nation Value Relative to State
12.7357664233577 22.1476510067114

Number Of Homes And Apartments:
6,058

Saratoga Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
71.52% 2.84%
2
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,911 / per month

Homeownership Rate

Homeownership
Owners 82.14
Renters 17.86
Vacant 1.34

Housing Market Details

 

Age of Homes

AGE OF Saratoga Springs HOMES
2000 or Newer 91.4
1970 - 1999 7.9
1940 - 1969 0.8
1939 or Older 0.0

Types of Homes

TYPE OF Saratoga Springs HOMES
Single-Family 77.9
Townhomes 9.6
Small Apt. Buildings 1.7
Apt. Complexes 10.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Saratoga Springs HOMES
No Bedroom 0.00
1 Bedroom 1.30
2 Bedrooms 4.54
3 Bedrooms 37.13
4 Bedrooms 23.21
5 or more bedrooms 33.81

Popular Neighborhoods in Saratoga Springs

Zip Codes in Saratoga Springs, UT