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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 9,157 people, 3,378 houses or apartments, and a median cost of homes of $203,331, Washington Terrace real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Washington Terrace, accounting for 57.21% of the city's housing units. Other types of housing that are prevalent in Washington Terrace include large apartment complexes or high rise apartments ( 20.31%), duplexes, homes converted to apartments or other small apartment buildings ( 14.11%), and a few row houses and other attached homes ( 8.37%).
The most prevalent building size and type in Washington Terrace are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.81% owning and 39.19% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Washington Terrace's housing was primarily built during this period, from the '40s through the '60s. A full 44.71% of the city's housing hails from this era. Other housing ages represented in Washington Terrace include homes built between 1970-1999 ( 41.15%) and housing constructed between 2000 and later ( 13.24%).
Appreciation rates for homes in Washington Terrace have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.27%, which ranks in the top 30% nationwide. This equates to an annual average Washington Terrace house appreciation rate of 1.07%.
Appreciation rates are so strong in Washington Terrace that despite a nationwide downturn in the housing market, Washington Terrace real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Washington Terrace appreciation rates continue to be some of the highest in America, at 9.44%, which is higher than appreciation rates in 92.16% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Washington Terrace. Washington Terrace appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.18%.
Importantly, this makes Washington Terrace 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 Washington Terrace's latest annual appreciation rate is higher than 80% of the other cities and towns in Utah.
|$912,001 - $1,216,000||0.0|
|$608,001 - $912,000||0.6|
|$486,001 - $608,000||1.1|
|$365,001 - $486,000||2.5|
|$243,001 - $365,000||12.9|
|$122,001 - $243,000||74.3|
|$61,001 - $122,000||6.7|
|$0 - $61,000||1.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Washington Terrace HOMES|
|2000 or Newer||13.2|
|1970 - 1999||41.1|
|1940 - 1969||44.7|
|1939 or Older||0.9|
|TYPE OF Washington Terrace HOMES|
|Small Apt. Buildings||14.1|
|SIZE OF Washington Terrace HOMES|
|5 or more bedrooms||10.35|