Given that Utah is the ninth most expensive housing market in the United States according to a new University of Utah Kem C. Gardner Policy Institute report, just how much does a typical home cost in cities around the state?
The 2024-2025 edition of the Gardner Institute’s “State of the State’s Housing Market” released this week detailed what the typical homebuyer paid in Utah cities with more than 40,000 residents.
The priciest place? Draper, where the median sales price of a single-family home was $960,000 in 2024, up $121,800 from the previous year. The report noted that 14.5% jump was the only double-digit price increase among what are considered Utah’s large cities.
The research by the Gardner Institute found prices did “vary significantly,” with a median sales price under $500,000 last year in five of the cities, while homes sold in nine others had a median price above $600,000.
Utah’s three fastest-growing cities, Lehi, Saratoga Springs and Eagle Mountain, saw “only small housing price increases” from 2023 to 2024, according to the report. Prices fell in only two of the cities on the list, Murray and Spanish Fork.
Statewide, the median sales price of a single-family home in 2024 was $564,000, a 4.4% increase from the previous year. Data from the fourth quarter of 2024 put the national median sales price for that same type of home at $410,100.
Here’s the report’s list of cities with a population of more than 40,000 and the median sales price of a single-family home there in 2024:
- Draper, $960,000
- South Jordan, $705,000
- Millcreek, $701,000
- Riverton, $680,000
- Herriman, $670,000
- Sandy, $663,945
- Lehi, $658,000
- Saratoga Springs, $637,954
- Salt Lake City, $615,000
- American Fork, $595,861
- Bountiful, $577,500
- Murray, $569,500
- St. George, $564,500
- West Jordan, $560,000
- Provo, $549,500
- Orem, $526,750
- Eagle Mountain, $522,900
- Spanish Fork, $519,990
- Layton, $517,250
- Taylorsville, $510,000
- Cedar City, $479,900
- West Valley City, $467,000
- Tooele, $445,000
- Logan, $415,000
- Ogden, $379,500
Of course, that doesn’t include big housing costs in some smaller towns, like Park City. Summit County, home to world famous ski resorts, had the highest median price for a single-family home of any of Utah’s 29 counties, at $1,635,000. Adjacent Wasatch County was next, at $992,000. Highland and Alpine in Utah County and Holladay in Salt Lake County are other smaller cities under the 40,000 threshold that likely have higher-than-average median home prices but are not included on the list.
And among the nation’s 228 metropolitan areas, a geographical designation that can spread across multiple cities and even counties, Salt Lake-Tooele’s median home price ranks 29th, followed by St. George at 30th, Provo-Orem at 34th, and Ogden-Clearfield at 37th.
The metropolitan area data is for existing homes sold in the fourth quarter of 2024.