Tooele, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tooele, 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

Tooele Housing Market Information

With a population of 33,157, 10,336 total housing units (homes and apartments), and a median house value of $185,141, Tooele real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Tooele, accounting for 77.94% of the city's housing units. Other types of housing that are prevalent in Tooele include large apartment complexes or high rise apartments ( 6.72%), mobile homes or trailers ( 6.40%), and a few row houses and other attached homes ( 4.78%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Tooele. Owner-occupied housing accounts for 74.16% of Tooele's homes, and 63.28% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Tooele 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 Tooele built between 2000 and later ( 27.72%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.33%). There's also some housing in Tooele built before 1939 ( 5.53%).

Tooele Home Appreciation Rates

Appreciation rates for homes in Tooele have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.38%, which ranks in the top 50% nationwide. This equates to an annual average Tooele house appreciation rate of 0.33%.

Appreciation rates are so strong in Tooele that despite a nationwide downturn in the housing market, Tooele real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tooele appreciation rates continue to be some of the highest in America, at 9.16%, which is higher than appreciation rates in 91.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tooele. Tooele appreciation rates in the latest quarter were at 2.95%, which equates to an annual appreciation rate of 12.32%.

Importantly, NeighborhoodScout’s exclusive research found that Tooele's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Utah, our data show that Tooele's latest annual appreciation rate is higher than 70% 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 Tooele differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tooele - 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 Tooele real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$185,141

Tooele, UT HOME PRICES

Value Range
> $1,220,000 0.1
$915,001 - $1,220,000 0.0
$610,001 - $915,000 0.5
$488,001 - $610,000 1.0
$366,001 - $488,000 4.9
$244,001 - $366,000 16.7
$122,001 - $244,000 61.5
$61,001 - $122,000 8.1
$0 - $61,000 7.1

Low for UT
High for Nation

Value Relative to Nation Value Relative to State
36.3822805578343 78.5234899328859

Number Of Homes And Apartments:
10,336

Tooele 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
38.94% 1.92% 1 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,019 / per month

Homeownership Rate

Homeownership
Owners 74.16
Renters 25.84
Vacant 6.04

Housing Market Details

 

Age of Homes

AGE OF Tooele HOMES
2000 or Newer 27.7
1970 - 1999 43.4
1940 - 1969 23.3
1939 or Older 5.5

Types of Homes

TYPE OF Tooele HOMES
Single-Family 77.9
Townhomes 4.8
Small Apt. Buildings 4.2
Apt. Complexes 6.7
Mobile Homes 6.4
Other 0.0

Home Size

SIZE OF Tooele HOMES
No Bedroom 0.49
1 Bedroom 4.25
2 Bedrooms 18.04
3 Bedrooms 35.07
4 Bedrooms 28.21
5 or more bedrooms 13.94