American Fork, Utah Housing Market Prices
American Fork Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 35% above the Utah median$671,896
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Median rent 11% above the Utah median$1,662
Housing Market Overview
| Metric | American Fork | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $671,896 | $498,552 | $248,835 |
| Price Trend (Annual %) | 66.1% | 11.3% | 7.5% |
| Median Gross Rent | $1,662 | $1,495 | $1,407 |
| Rent Trend (Annual %) | 5.2% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in American Fork is about 35% higher than in Utah. Rent is about 11% higher than the Utah average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in American Fork, up about 66.1% and 5.2% a year respectively. Home prices are changing faster.
Median rent in American Fork rose about 56.8% between 2015 and 2024, from $1,060 to $1,662. Over the same span, rent in Utah rose about 68.7%.
Affordability
On average, housing unit costs 6.8 yearly household incomes in American Fork.
Buying the median-priced home in American Fork costs roughly 33.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in American Fork. The price-to-rent ratio in Utah is about 27.8.
| Metric | American Fork | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $671,896 | $498,552 | $248,835 |
| Median Household Income | $99,500 | $95,466 | $80,455 |
| Price-to-Income Ratio | 6.8 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in American Fork rose about 313.6%, while median household income rose about 44.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | American Fork | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.2% | 64.6% | 58.5% |
| Rental Rate | 30.2% | 27.3% | 31.2% |
| Vacancy Rate | 3.6% | 8.1% | 10.2% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
American Fork has a homeownership rate of 66.2%, higher than the Utah average of 64.6%. Its housing vacancy rate is 3.6%, compared with 8.1% in Utah.
Housing Stock
| Metric | American Fork | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.23 people | 2.97 people | 2.53 people |
| Median Structure Built Year | 1990 | 1989 | 1978 |
| Median Number of Rooms | 7.0 | 6.4 | 5.5 |
The typical housing unit in American Fork was built around 1990. On average, 3.2 people live in a home with about 7.0 rooms, staying for about 13.0 years on average.
American Fork, UT Housing Compared With Nearby Cities
How American Fork, UT compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| American Fork, UT | 34,445 | $671,896 #2/2 | $1,662 #2/2 | 68.7% #2/2 |
| Lehi, UT | 80,979 | $717,305 | $2,002 | 75.1% |
Frequently Asked Questions
Common questions about the housing market in American Fork, Utah.
What is the median home price in American Fork, Utah?
The median home price in American Fork, Utah is $671,896, higher than the Utah average of $498,552.
What is the average home price in American Fork, Utah?
The typical home price in American Fork, Utah, reported as the median sale price, is $671,896. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in American Fork, Utah?
The median gross rent in American Fork, Utah is $1,662 per month, higher than the Utah average of $1,495.
What was the median gross rent in American Fork in 2020?
In 2020, the median gross rent in American Fork, Utah was $1,228 per month.
What is the price-to-rent ratio in American Fork, Utah?
The price-to-rent ratio in American Fork, Utah is about 33.7, meaning it would take roughly 33.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in American Fork.
Are home prices or rent rising faster in American Fork, Utah?
Both home prices and rent are rising in American Fork, up about 66.1% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in American Fork, Utah?
66.2% of households in American Fork, Utah own their home, higher than the Utah average of 64.6%.
What is the vacancy rate in American Fork, Utah?
The housing vacancy rate in American Fork, Utah is 3.6%, lower than the Utah average of 8.1%.
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