Utah Real Estate and Livability Trends

The median value of occupied housing units in Utah has surged from $215,900 in 2015 to $408,500 in 2022, far outpacing the national median, which only grew from $125,500 to $179,400. This steep rise signals a thriving housing market and could attract investors and developers, even as it raises concerns about affordability for new and long-term residents. On the energy front, residential energy... tax credits per tax return in Utah saw major fluctuations, peaking at $3,930.71 in 2018 before stabilizing around the mid-$2000 range, which suggests early incentives drove substantial energy-efficient investments initially. Real estate taxes per tax return have also jumped significantly, from $2,172.73 in 2012 to $3,926.69 in 2021, pointing toward increasing property values or tax policy changes. The agricultural sector shows a minor decline in the percentage of farm tax returns, from 1.16% in 2012 to 0.91% in 2021, hinting at possible shifts in agricultural profitability and land use. Read more

Average taxable income in Utah has steadily increased from $58,645.39 in 2013 to $96,747.72 in 2021, indicating economic stability that could appeal to investors and real estate pros. During the same period, state and local income taxes per return have jumped from around $5,420.55 to roughly $13,731.27, suggesting higher income levels or shifting tax policies. This trend extends to total tax liability, which rose from approximately $9,517.21 in 2012 to about $17,542.21 in 2021, reflecting a... potentially lucrative but costlier market. Read more

Property crime trends in Utah over the last five years show a general decline in Arson, Burglary, and Motor Vehicle Theft, yet sophisticated crimes like Embezzlement have dropped significantly from $745.00 in 2018 to $393.00 in 2022. Fraud consistently stays high, hitting a low of $10,049.00 in 2021, while Vandalism peaked in 2021 with $3,196.00 incidents. This evolving pattern may indicate shifting criminal focus and better preventive measures, relevant for investors, developers, and real... estate professionals evaluating market stability and safety. Read more

Utah's adult population shows a relatively balanced gender distribution with a slight male majority. A notable educational trend is the high number of residents with some college experience but no degree, closely followed by those holding bachelor's degrees. The state's youthful nature is evident in its significant proportion of residents under the age of 35. Racially, Utah's population is predominantly White, with smaller percentages of other racial groups, reflecting its relatively less... diverse demographic makeup compared to national levels. Read more

In Utah, the real estate market might be influenced by political preferences, as there's a potential strong leaning towards Republican candidates based on the 2020 U.S. Presidential election results. This political climate could possibly impact market dynamics, including property prices and investments, with Republican preference potentially reflecting more conservative fiscal policies and a stable economic... outlook. Read more

Utah's classrooms tend to be busier, with 21 to 22 students per teacher over the past six years, compared to the national average of 14. This might influence decisions for families who prioritize individual attention in education, potentially affecting local real estate decisions and appraisals. Real estate agents and appraisers could factor this into their evaluations, as it might sway client decisions and valuations of school... districts. Read more