Vernal, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Vernal Neighborhoods Since 2000




Vernal, 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

Vernal Housing Market Information

With 11,200 people, 3,387 houses or apartments, and a median cost of homes of $201,794, Vernal real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Vernal, accounting for 55.74% of the city's housing units. Other types of housing that are prevalent in Vernal include duplexes, homes converted to apartments or other small apartment buildings ( 15.35%), large apartment complexes or high rise apartments ( 14.09%), and a few mobile homes or trailers ( 9.20%).

The most prevalent building size and type in Vernal are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.48% owning and 37.52% renting.

There is a lot of housing in Vernal 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 Vernal built between 2000 and later ( 28.94%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.23%). There's also some housing in Vernal built before 1939 ( 5.79%).

Vacant housing appears to be an issue in Vernal. Fully 15.07% of the housing stock is classified as vacant. Left unchecked, vacant Vernal homes and apartments can be a drag on the real estate market, holding Vernal 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.

Vernal Home Appreciation Rates

Real estate appreciation rates in Vernal's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.46% during the period.

Over the last year, Vernal appreciation rates have trailed the rest of the nation. In the last twelve months, Vernal's appreciation rate has been -5.25%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Vernal were at 0.44%, which equates to an annual appreciation rate of 1.77%.

Relative to Utah, our data show that Vernal's latest annual appreciation rate is lower than 90% of the other cities and towns in Utah.

Average Home Values

 

Median Home Value:
$201,794

Vernal, UT HOME PRICES

Value Range
> $1,010,000 1.0
$758,001 - $1,010,000 0.6
$505,001 - $758,000 1.9
$404,001 - $505,000 3.4
$303,001 - $404,000 6.5
$202,001 - $303,000 27.4
$101,001 - $202,000 45.1
$51,001 - $101,000 7.2
$0 - $51,000 6.9

Low for UT
High for Nation

Value Relative to Nation Value Relative to State
31.817649126919 68.4563758389262

Number Of Homes And Apartments:
3,387

Vernal 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
72.23% 3.20% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,204 / per month

Homeownership Rate

Homeownership
Owners 62.48
Renters 37.52
Vacant 15.07

Housing Market Details

 

Age of Homes

AGE OF Vernal HOMES
2000 or Newer 28.9
1970 - 1999 47.0
1940 - 1969 18.2
1939 or Older 5.8

Types of Homes

TYPE OF Vernal HOMES
Single-Family 55.7
Townhomes 5.6
Small Apt. Buildings 15.3
Apt. Complexes 14.1
Mobile Homes 9.2
Other 0.0

Home Size

SIZE OF Vernal HOMES
No Bedroom 2.21
1 Bedroom 5.19
2 Bedrooms 29.71
3 Bedrooms 45.56
4 Bedrooms 10.71
5 or more bedrooms 6.62

Popular Communities Near Vernal, UT

Zip Codes in Vernal, UT