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 | Sanpete County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $581,645 | $457,939 | $242,182 |
| Price Trend (Annual %) | 32.7% | 11.6% | 8.2% |
| Median Gross Rent | $911 | $1,405 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sanpete County is about 27% higher than in Utah. Rent is about 35% lower 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 Sanpete County, up about 32.7% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Sanpete County rose about 35.1% between 2015 and 2023, from $674 to $911. Over the same span, rent in Utah rose about 58.6%.
Affordability
On average, housing unit costs 8.7 yearly household incomes in Sanpete County.
Buying the median-priced home in Sanpete County costs roughly 53.2 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 Sanpete County. The price-to-rent ratio in Utah is about 27.2.
| Metric | Sanpete County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $581,645 | $457,939 | $242,182 |
| Median Household Income | $67,122 | $92,351 | $78,145 |
| Price-to-Income Ratio | 8.7 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sanpete County rose about 493.3%, while median household income rose about 59.9% between 2009 and 2023 — 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 | Sanpete County | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.1% | 64.8% | 58.2% |
| Rental Rate | 19.7% | 26.9% | 31.3% |
| Vacancy Rate | 16.2% | 8.2% | 10.6% |
| Median Tenure (years) | 15.0 | 13.0 | 15.0 |
| Median Year Moved In | 2011 | 2013 | 2011 |
Sanpete County has a homeownership rate of 64.1%, lower than the Utah average of 64.8%. Its housing vacancy rate is 16.2%, compared with 8.2% in Utah.
Housing Stock
| Metric | Sanpete County | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.03 people | 2.99 people | 2.54 people |
| Median Structure Built Year | 1982 | 1988 | 1978 |
| Median Number of Rooms | 6.7 | 6.4 | 5.5 |
The typical housing unit in Sanpete County was built around 1982. On average, 3.0 people live in a home with about 6.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sanpete County, Utah.
What is the median home price in Sanpete County, Utah?
The median home price in Sanpete County, Utah is $581,645, higher than the Utah average of $457,939.
What is the average home price in Sanpete 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 Sanpete County, Utah?
The median gross rent in Sanpete County, Utah is $911 per month, lower than the Utah average of $1,405.
What was the median gross rent in Sanpete County in 2020?
In 2020, the median gross rent in Sanpete County, Utah was $785 per month.
What is the price-to-rent ratio in Sanpete County, Utah?
The price-to-rent ratio in Sanpete County, Utah is about 53.2, meaning it would take roughly 53.2 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 Sanpete County.
Are home prices or rent rising faster in Sanpete County, Utah?
Both home prices and rent are rising in Sanpete County, up about 32.7% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sanpete County, Utah?
64.1% of households in Sanpete County, Utah own their home, lower than the Utah average of 64.8%.
What is the vacancy rate in Sanpete County, Utah?
The housing vacancy rate in Sanpete County, Utah is 16.2%, higher than the Utah average of 8.2%.