Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Davis County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $274,032 | $457,939 | $242,182 |
| Price Trend (Annual %) | 4.2% | 11.6% | 8.2% |
| Median Gross Rent | $1,516 | $1,405 | $1,342 |
| Rent Trend (Annual %) | 7.1% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Davis County is about 40% lower than in Utah. Rent is about 8% higher than the Utah average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Davis County, up about 4.2% and 7.1% a year respectively. Rent is changing faster.
Median rent in Davis County rose about 66.1% between 2015 and 2023, from $913 to $1,516. Over the same span, rent in Utah rose about 58.6%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Davis County.
Buying the median-priced home in Davis County costs roughly 15.1 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Davis County. The price-to-rent ratio in Utah is about 27.2.
| Metric | Davis County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $274,032 | $457,939 | $242,182 |
| Median Household Income | $107,980 | $92,351 | $78,145 |
| Price-to-Income Ratio | 2.5 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Davis County rose about 39.0%, while median household income rose about 63.6% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Davis County | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.8% | 64.8% | 58.2% |
| Rental Rate | 21.9% | 26.9% | 31.3% |
| Vacancy Rate | 3.3% | 8.2% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Davis County has a homeownership rate of 74.8%, higher than the Utah average of 64.8%. Its housing vacancy rate is 3.3%, compared with 8.2% in Utah.
Housing Stock
| Metric | Davis County | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.18 people | 2.99 people | 2.54 people |
| Median Structure Built Year | 1988 | 1988 | 1978 |
| Median Number of Rooms | 7.4 | 6.4 | 5.5 |
The typical housing unit in Davis County was built around 1988. On average, 3.2 people live in a home with about 7.4 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Davis County, Utah.
What is the median home price in Davis County, Utah?
The median home price in Davis County, Utah is $274,032, lower than the Utah average of $457,939.
What is the average home price in Davis County, Utah?
The typical home price in %s, reported as the median sale price, is %s. 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 Davis County, Utah?
The median gross rent in Davis County, Utah is $1,516 per month, higher than the Utah average of $1,405.
What was the median gross rent in Davis County in 2020?
In 2020, the median gross rent in Davis County, Utah was $1,166 per month.
What is the price-to-rent ratio in Davis County, Utah?
The price-to-rent ratio in Davis County, Utah is about 15.1, meaning it would take roughly 15.1 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Davis County.
Are home prices or rent rising faster in Davis County, Utah?
Both home prices and rent are rising in Davis County, up about 4.2% and 7.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Davis County, Utah?
74.8% of households in Davis County, Utah own their home, higher than the Utah average of 64.8%.
What is the vacancy rate in Davis County, Utah?
The housing vacancy rate in Davis County, Utah is 3.3%, lower than the Utah average of 8.2%.