Utah County Real Estate and Livability Trends
Utah County, Utah, is experiencing a notable economic surge, which can be inferred from the rise in average taxable income from $58,678 in 2013 to $97,748 in 2021. Real estate trends show median home values rocketing from $228,400 in 2015 to $443,000 in 2022, outstripping state and national growth rates. This jump in values, combined with substantial increases in residential energy tax credits... Read more
Utah County Market Trends
Utah County's median home values have surged, climbing from $228,400 in 2015 to $443,000 in 2022, outpacing the state and national growth rates. Dramatic increases in residential energy tax credits per return—reaching $3,932.29 in 2021 from $399.31 in 2013—suggest an ongoing push towards energy-efficient home improvements. Real estate taxes have also risen significantly, doubling from about... Read more
Median Value of Occupied Housing Units in Utah County, Utah Over the Last 8 Years
Utah County's median home values have experienced rapid growth over the past eight years, outpacing both Utah state and national averages. From $228,400 in 2015 to $443,000 in 2022, the roughly 94% increase suggests strong demand and potentially lucrative investment opportunities. This is especially compelling given that Utah's median home value grew from $215,900 to $408,500 in the same period, and national values rose more modestly from $125,500 to $179,400. For those considering a move, investment, or development in Utah County, the consistently rising home values may indicate a thriving and stable housing market.
Residential Energy Tax Credit Per Tax Return in Utah County, UT Over the Last 9 Years
Utah County, Utah has seen a sharp rise in average residential energy tax credits per tax return over the past nine years. From $399.31 in 2013, the figures surged to $3,932.29 by 2021. This likely signifies a growing investment in energy-efficient home improvements, making it an appealing factor for investors and homebuyers interested in eco-friendly properties. Real estate professionals and property developers might find this trend indicative of a market motivated by long-term energy savings and sustainability incentives.
Average Real Estate Taxes Per Tax Return in Utah County, UT Over the Last 10 Years
Over the past decade, real estate taxes per tax return in Utah County, Utah have shown a notable upward trend, increasing from approximately $1,848.53 in 2012 to around $3,371.30 in 2021. This escalation suggests a rising cost of homeownership in the area, which could influence property valuations, investment decisions, and financial planning for both current and prospective residents. For investors and real estate professionals, understanding this trend provides critical insight into long-term cost implications and potential return on investment. Appraisers and insurance agents may also find this data relevant when assessing property values and determining insurance premiums.
Percentage of Farm Returns in Utah County, UT Over the Last 10 Years
The percentage of farm tax returns in Utah County, Utah, has shown a steady decline over the past decade, decreasing from 0.91% in 2012 to roughly 0.63% in 2021. Farm tax returns typically serve as indicators of agricultural activity and economic vitality in rural areas, reflecting the number of farms filing taxes. This downward trend might suggest a shift in the local economy, possibly pointing to urbanization, reduced agricultural operations, or a change in the economic focus of the region. For investors, property developers, and potential new residents, it's important to consider these trends as they could influence future economic opportunities, land use, and community development strategies in Utah County.
Number of Mortgages by Occupancy Type in Utah County, UT Over the Last 5 Years in Utah County
Shifting trends in mortgage types in Utah County, Utah indicate a fluctuating focus among different kinds of properties. Between 2018 and 2022, mortgages for principal residences have consistently dominated, peaking in 2020. This could suggest a booming demand for primary homes, possibly propelled by economic factors or a demographic shift towards more residents. Conversely, both investment properties and second residences witnessed modest increases up till 2021, followed by a notable decline in 2022. Such patterns may illuminate investor confidence and market speculation, offering valuable signals for real estate agents, developers, and investors eyeing regional market dynamics. For insurance agents and appraisors, understanding these variances aids in risk assessment and fair valuation, respectively, regarding property type trends shifting over time.
Economic Outlook
Utah County, Utah shows a significant rise in average taxable income, jumping from $58,678 in 2013 to $97,748 in 2021. This growth, especially around 2019 and 2020, might indicate a booming local economy and a potentially wealthier resident base, paving the way for higher property values and premium market opportunities. Average state and local income taxes have climbed from $5,387.23 in 2012 to $13,717.51 in 2021, suggesting a parallel rise in incomes and possible economic expansion.... Read more
Average Taxable Income per Tax Return in Utah County, UT over the last 9 years
Utah County, Utah has experienced notable growth in average taxable income per tax return over the past nine years, rising from approximately $58,678 in 2013 to $97,748 in 2021. This upward trend, especially the significant jumps around 2019 and 2020, could signal a robust local economy and possibly an influx of higher-income residents. For potential investors, real estate agents, and insurance agents, this data could indicate a maturing market with increasing property values and greater potential for premium clientele. Local residents might see this as a reflection of economic prosperity, possibly accompanied by higher living costs.
Average State and Local Income Taxes Per Tax Return in Utah County, UT Over the Last 10 Years
Over the last decade, Utah County, Utah has seen a consistent increase in average state and local income taxes per tax return, starting from about $5,387.23 in 2012 to approximately $13,717.51 in 2021. Notably, there was a significant leap between 2017 and 2019, with annual amounts climbing by almost $4,000. This steady rise in taxes could be reflective of economic growth and higher incomes in the area, which may impact property values, investment potential, and cost of living—key considerations for those looking to engage with the local real estate market.
Average Total Tax Liability Per Tax Return in Utah County, UT Over the Last 10 Years
Utah County, Utah has seen a consistent rise in average total tax liability per tax return over the past decade, with notable jumps in the years 2019 and 2021. This trend suggests increasing incomes, economic growth, and potentially higher property values which could pique the interest of investors, real estate agents, or those planning to move to the area. For insurers and appraisers, the upward trajectory in tax liabilities may signal a need for updated assessments. During 2021, the average tax liability peaked at $17,697.87, a substantial increase from $9,510.37 in 2012. This data hints at a dynamic economic environment that could offer substantial opportunities and challenges across various sectors.
Cost of Living in Utah County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,650 | $1,452 | $1,669 | $1,620 | $1,591 |
| 1 adult 4 children | $1,650 | $1,186 | $1,271 | $1,620 | $1,715 |
| 2 adults 3 children | $1,650 | $1,186 | $1,451 | $1,620 | $1,332 |
| 1 adult 3 children | $1,650 | $968 | $1,053 | $1,620 | $1,486 |
| 2 adults 2 children | $1,161 | $971 | $1,233 | $1,410 | $1,016 |
| 1 adult 2 children | $1,161 | $725 | $835 | $1,410 | $1,041 |
| 2 adults 1 child | $1,161 | $767 | $1,015 | $728 | $894 |
| 1 adult 1 child | $1,161 | $496 | $617 | $728 | $786 |
| 2 adults | $1,014 | $616 | $797 | $0 | $713 |
| 1 adult | $1,006 | $336 | $399 | $0 | $661 |
Safety trends & Data
Utah County, Utah's property crime trends over the past five years reflect interesting shifts that can affect real estate dynamics. Larceny-theft, while peaking at 1904.00 instances in 2018, has generally declined to 1570.00 in 2022. Vandalism and fraud have shown fluctuating patterns, with vandalism peaking at 606.00 cases in 2021 and fraud spiking to 158.00 cases in 2022 after a drop in 2020. Burglary and motor vehicle theft numbers have been more stable yet variable, influencing factors such... Read more
Property Crime Trends in Utah County, UT Over the Last 5 Years
Utah County, Utah has seen notable trends in property crimes over the past five years. Larceny-theft consistently tops the charts, peaking at a high of 1904.00 instances in 2018, though showing a general decline towards 1570.00 in 2022. Vandalism arrests have fluctuated but remained significantly high, with a peak of 606.00 cases in 2021. Other crimes like fraud and burglary saw variations, with fraud dropping noticeably in 2020 but seeing a spike of 158.00 cases in 2022. Burglary arrests and motor vehicle theft cases appeared more stable yet showed variability, with burglary hovering in the low hundreds and motor vehicle theft notably decreasing to 11.00 in 2021 before jumping back to 30.00 in 2022. These crime dynamics can influence investment decisions, real estate valuations, and local market stability.
Demographics
Utah County, Utah has a nearly even adult population distribution between males and females. There's a significant leaning toward higher educational attainment, with many residents holding a bachelor's degree or higher. The age demographic shows a youthful tilt, especially among those under 34 years old. The racial makeup is predominantly White, although there is visible diversity with Asian, Black or African American, and Pacific Islander communities contributing to the population. This mix... Read more
Race Distribution in Utah County, Utah (2022)
Educational Attainment in Utah County, Utah (2022)
Age Distribution in Utah County, Utah
Citizen Population in Utah County, Utah (2022)
Political Trends & Data
In Utah County, Utah, the 2020 U.S. Presidential Election data indicated a strong Republican lean, with an estimated 67.8% of votes for the GOP candidate. Democratic support accounted for about 26.7%, while third-party candidates like the Libertarians and Greens only received roughly 3.7% and 0.3%. This suggests that while the area predominantly favors Republicans, there is still a spectrum of political preferences... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Utah County, Utah, showed significant support for the Republican candidate in the 2020 U.S. Presidential Election, with an estimated 67.8% of votes. Democratic support was somewhat lower, making up about 26.7% of the vote, while minor parties like the Libertarian and Green parties garnered roughly 3.7% and 0.3%, respectively. This suggests a trend where third-party candidates had minimal impact compared to the two major parties. It may be observed that even within a predominantly Republican area, there is still a presence of diverse political preferences.
67.82% of voters voted for the Republican party in the 2020 Presidential Election
26.75% of voters voted for the Democrat party in the 2020 Presidential Election
3.65% of voters voted for the Livertarian party in the 2020 Presidential Election
0.30% of voters voted for the Green party in the 2020 Presidential Election
1.48% of voters voted for the Other party in the 2020 Presidential Election
School Data
Utah County, Utah's student-to-teacher ratio has seen notable changes over the past six years. It peaked in 2020 at over 26 students per teacher but has since decreased to just over 22 students per teacher in 2023, still well above the national average of 14. These ratios might suggest varying levels of classroom crowding and could affect the perceived quality of education, which is a critical factor for families, investors, and professionals such as real estate agents and appraisers when... Read more
Student-to-teacher ratio in Utah County, Utah over the last 6 years
Over the past six years, Utah County in Utah has seen some fluctuations in its student-to-teacher ratio. In 2014, the ratio stood at around 24 students per teacher, peaking in 2020 at over 26 students per teacher. By 2023, the ratio has decreased to just over 22 students per teacher, which still remains notably higher than the current U.S. national average of 14 students per teacher. For investors, real estate agents, and those looking to move to the area, these ratios could imply varying levels of classroom crowding and potentially reflect on the quality of education provided. Appraisers and insurance agents may also consider these trends when evaluating properties, as they can impact community desirability and school district ratings.
