With 9,157 people, 3,521 houses or apartments, and a median cost of homes of $182,429, Washington Terrace real estate values are some of the lowest in Utah, although compared to real estate around the nation, Washington Terrace homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Washington Terrace, accounting for 56.78% of the city's housing units. Other types of housing that are prevalent in Washington Terrace include large apartment complexes or high rise apartments ( 17.65%), duplexes, homes converted to apartments or other small apartment buildings ( 16.86%), and a few row houses and other attached homes ( 8.70%).
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 60.26% owning and 39.74% renting.
There is a lot of housing in Washington Terrace 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 Washington Terrace built between 1940-1969 ( 40.97%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.35%). There's also some housing in Washington Terrace built before 1939 ( 1.08%).
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 15.26%, which ranks in the top 30% nationwide. This equates to an annual average Washington Terrace house appreciation rate of 1.43%.
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 7.82%, which is higher than appreciation rates in 90.48% 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 3.04%, which equates to an annual appreciation rate of 12.73%.
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 60% of the other cities and towns in Utah.
|$894,001 - $1,193,000||0.0|
|$597,001 - $894,000||1.2|
|$477,001 - $597,000||0.8|
|$358,001 - $477,000||2.3|
|$239,001 - $358,000||14.8|
|$119,001 - $239,000||70.8|
|$60,001 - $119,000||7.8|
|$0 - $60,000||2.3|
|Value Relative to Nation||Value Relative to State|
|AGE OF Washington Terrace HOMES|
|2000 or Newer||14.4|
|1970 - 1999||43.6|
|1940 - 1969||41.0|
|1939 or Older||1.1|
|TYPE OF Washington Terrace HOMES|
|Small Apt. Buildings||16.9|
|SIZE OF Washington Terrace HOMES|
|5 or more bedrooms||9.22|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
2000 Q1 - 2016 Q3
|* 10 is highest|