Draper, Utah Housing Market Prices
Draper 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 98% above the Utah median$987,949
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Median rent 27% above the Utah median$1,895
Housing Market Overview
| Metric | Draper | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $987,949 | $498,552 | $248,835 |
| Price Trend (Annual %) | 18.6% | 11.3% | 7.5% |
| Median Gross Rent | $1,895 | $1,495 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Draper is about 98% higher than in Utah. Rent is about 27% 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 Draper, up about 18.6% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Draper rose about 57.9% between 2015 and 2024, from $1,200 to $1,895. Over the same span, rent in Utah rose about 68.7%.
Affordability
On average, housing unit costs 7.7 yearly household incomes in Draper.
Buying the median-priced home in Draper costs roughly 43.5 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 Draper. The price-to-rent ratio in Utah is about 27.8.
| Metric | Draper | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $987,949 | $498,552 | $248,835 |
| Median Household Income | $128,472 | $95,466 | $80,455 |
| Price-to-Income Ratio | 7.7 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Draper rose about 292.5%, while median household income rose about 52.9% 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 | Draper | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.1% | 64.6% | 58.5% |
| Rental Rate | 31.4% | 27.3% | 31.2% |
| Vacancy Rate | 2.5% | 8.1% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Draper has a homeownership rate of 66.1%, higher than the Utah average of 64.6%. Its housing vacancy rate is 2.5%, compared with 8.1% in Utah.
Housing Stock
| Metric | Draper | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.89 people | 2.97 people | 2.53 people |
| Median Structure Built Year | 2003 | 1989 | 1978 |
| Median Number of Rooms | 7.3 | 6.4 | 5.5 |
The typical housing unit in Draper was built around 2003. On average, 2.9 people live in a home with about 7.3 rooms, staying for about 11.0 years on average.
Draper, UT Housing Compared With Nearby Cities
How Draper, UT compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Draper, UT | 50,876 | $987,949 #1/2 | $1,895 #2/2 | 67.8% #2/2 |
| Lehi, UT | 80,979 | $717,305 | $2,002 | 75.1% |
Frequently Asked Questions
Common questions about the housing market in Draper, Utah.
What is the median home price in Draper, Utah?
The median home price in Draper, Utah is $987,949, higher than the Utah average of $498,552.
What is the average home price in Draper, Utah?
The typical home price in Draper, Utah, reported as the median sale price, is $987,949. 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 Draper, Utah?
The median gross rent in Draper, Utah is $1,895 per month, higher than the Utah average of $1,495.
What was the median gross rent in Draper in 2020?
In 2020, the median gross rent in Draper, Utah was $1,435 per month.
What is the price-to-rent ratio in Draper, Utah?
The price-to-rent ratio in Draper, Utah is about 43.5, meaning it would take roughly 43.5 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 Draper.
Are home prices or rent rising faster in Draper, Utah?
Both home prices and rent are rising in Draper, up about 18.6% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Draper, Utah?
66.1% of households in Draper, Utah own their home, higher than the Utah average of 64.6%.
What is the vacancy rate in Draper, Utah?
The housing vacancy rate in Draper, Utah is 2.5%, lower than the Utah average of 8.1%.
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