Saratoga Springs, Utah Housing Market Prices
Saratoga Springs 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 8% below the Utah median$456,949
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Median rent 39% above the Utah median$2,071
Housing Market Overview
| Metric | Saratoga Springs | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $456,949 | $498,552 | $248,835 |
| Price Trend (Annual %) | 12.4% | 11.3% | 7.5% |
| Median Gross Rent | $2,071 | $1,495 | $1,407 |
| Rent Trend (Annual %) | 5.5% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Saratoga Springs is about 8% lower than in Utah. Rent is about 39% 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 Saratoga Springs, up about 12.4% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Saratoga Springs rose about 50.9% between 2015 and 2024, from $1,372 to $2,071. Over the same span, rent in Utah rose about 68.7%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Saratoga Springs.
Buying the median-priced home in Saratoga Springs costs roughly 18.4 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 Saratoga Springs. The price-to-rent ratio in Utah is about 27.8.
| Metric | Saratoga Springs | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $456,949 | $498,552 | $248,835 |
| Median Household Income | $124,954 | $95,466 | $80,455 |
| Price-to-Income Ratio | 3.7 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Saratoga Springs rose about 93.9%, while median household income rose about 73.5% 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 | Saratoga Springs | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 77.9% | 64.6% | 58.5% |
| Rental Rate | 18.2% | 27.3% | 31.2% |
| Vacancy Rate | 3.9% | 8.1% | 10.2% |
| Median Tenure (years) | 8.0 | 13.0 | 15.0 |
| Median Year Moved In | 2018 | 2013 | 2011 |
Saratoga Springs has a homeownership rate of 77.9%, higher than the Utah average of 64.6%. Its housing vacancy rate is 3.9%, compared with 8.1% in Utah.
Housing Stock
| Metric | Saratoga Springs | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.90 people | 2.97 people | 2.53 people |
| Median Structure Built Year | 2013 | 1989 | 1978 |
| Median Number of Rooms | 7.1 | 6.4 | 5.5 |
The typical housing unit in Saratoga Springs was built around 2013. On average, 3.9 people live in a home with about 7.1 rooms, staying for about 8.0 years on average.
Saratoga Springs, UT Housing Compared With Nearby Cities
How Saratoga Springs, UT compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Saratoga Springs, UT | 38,082 | $456,949 #2/3 | $2,071 #1/3 | 81.1% #2/3 |
| Lehi, UT | 80,979 | $717,305 | $2,002 | 75.1% |
| Eagle Mountain, UT | 40,541 | $393,667 | $2,027 | 86.1% |
Frequently Asked Questions
Common questions about the housing market in Saratoga Springs, Utah.
What is the median home price in Saratoga Springs, Utah?
The median home price in Saratoga Springs, Utah is $456,949, lower than the Utah average of $498,552.
What is the average home price in Saratoga Springs, Utah?
The typical home price in Saratoga Springs, Utah, reported as the median sale price, is $456,949. 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 Saratoga Springs, Utah?
The median gross rent in Saratoga Springs, Utah is $2,071 per month, higher than the Utah average of $1,495.
What was the median gross rent in Saratoga Springs in 2020?
In 2020, the median gross rent in Saratoga Springs, Utah was $1,489 per month.
What is the price-to-rent ratio in Saratoga Springs, Utah?
The price-to-rent ratio in Saratoga Springs, Utah is about 18.4, meaning it would take roughly 18.4 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 Saratoga Springs.
Are home prices or rent rising faster in Saratoga Springs, Utah?
Both home prices and rent are rising in Saratoga Springs, up about 12.4% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Saratoga Springs, Utah?
77.9% of households in Saratoga Springs, Utah own their home, higher than the Utah average of 64.6%.
What is the vacancy rate in Saratoga Springs, Utah?
The housing vacancy rate in Saratoga Springs, Utah is 3.9%, lower than the Utah average of 8.1%.
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