Ogden, Utah Real Estate Market 2026: Score 71, Home Sales Up 23.7% Year Over Year

Ogden, Utah scores 71 out of 100 on the PropertyIQ index as of February 2026.

That puts Ogden among the stronger mid-tier markets in the Mountain West, a region that has seen scores compress significantly since the peak years of 2021 and 2022. The 71 reflects a market where demand is absorbing supply at a pace that consistently outpaces most of the country, even as prices have stretched well above income fundamentals.

PropertyIQ scores Ogden a 71 out of 100 as of February 28, 2026. Scores are updated monthly using Zillow, Census, and Realtor.com data.

The Numbers Behind the Score

The median listing price in Ogden is $524,650 as of February 1, 2026. The Zillow estimate for the metro stands at $509,329 as of January 31, 2026, reflecting close alignment between ask prices and where transactions are closing. That alignment is a sign of a market with functioning demand, not one where sellers are priced out of reach.

Home values are up 0.98% year over year as of February 2026, and up 0.51% month over month. Both are modest numbers, but positive. After two years of Mountain West markets posting flat or declining values, Ogden returning to positive territory across both timeframes is meaningful. Zillow projects 2.1% appreciation over the next 12 months as of December 2025.

The overvaluation reading is 46.8% as of February 2026. That figure measures how far Ogden home prices sit above what local income fundamentals would support in a historically normalized market. The income required to purchase at the median listing price is $139,450 per year. The Ogden metro median household income is $98,361 as of 2023 Census data.

The income gap is real, but it is the most manageable of any Utah metro tracked in the PropertyIQ dataset. You need to earn 1.42 times the local median income to qualify for the median home. That ratio sits comfortably below Salt Lake City and well below coastal markets where similar ratios run 2.0 and higher.

Supply Conditions and Demand Signals

The Ogden market had 1,296 homes for sale as of February 2026, up just 2.78% year over year. That inventory growth rate is among the lowest in the Mountain West, where markets like Denver and Fort Collins have seen inventory climb 15% or more over the same period. Ogden is not experiencing the inventory surge that has weighed on scores across the region.

New listings are up 12.24% year over year as of February 2026. That is a seller-friendly increase, bringing more product to market without overwhelming buyer capacity.

Days on market averaged 56 days as of February 2026. That pace is moderate but reflects a functioning market, not a stalled one. For context, Ogden's 56 days compares favorably to markets with similar scores in the Southeast and South.

The pending ratio is 0.5998 as of February 2026, meaning roughly 60% of active for-sale listings are currently under contract. A pending ratio above 0.5 indicates strong absorption. Buyers are not sitting on the sidelines waiting for better prices. Demand is moving through available supply.

The sale-to-list ratio is 99.81% as of November 2025. Sellers are receiving essentially the full asking price. That number does not happen in a market with excess inventory or weak buyer conviction.

The supply score is 65.9 out of 100 and the demand score is 14.7 out of 100. That combination might appear contradictory. High supply scores reflect conditions favorable to sellers. The lower demand score reflects that demand, while present, has not accelerated to extreme levels. The composite produces the 71.

The Score Recovery Pattern

The score history for Ogden shows a market that has been resilient through a regional cooling cycle. As of February 28, 2026, the score is 71. One month earlier, in January 2026, the score was 65. In December 2025, it was 55. In March 2025, it reached 75 before pulling back.

The pattern is a market that dipped from 75 to 55 over six months and has now recovered to 71. The direction matters as much as the level. Ogden is trending back toward its prior peak score, driven by home sales volume increasing 23.73% year over year as of February 2026.

That home sales figure is the standout number in Ogden's dataset. A 23.7% year-over-year increase in transaction volume, against a backdrop of stable inventory and flat price growth, points to buyers re-engaging with the market after a period of rate-driven hesitation. Sales volume is often a leading indicator of score direction. Rising sales with controlled inventory typically precedes score appreciation in subsequent months.

How Ogden Compares to the Utah Market

Utah markets carry a structural tailwind: the state's population growth rate consistently ranks among the top five in the country. Ogden sits at the north end of the Wasatch Front corridor, sharing infrastructure and employment access with Salt Lake City to the south. The metro population is 645,510 as of 2023 Census data.

The median age in Ogden is 32.8 years, one of the younger demographics in the PropertyIQ dataset. Young metro populations typically sustain housing demand over longer cycles. First-time buyers enter the market in higher numbers, household formation stays elevated, and existing owners tend to hold rather than downsize.

The homeownership rate is 76.37% as of 2023 Census data, well above the national average. That high ownership rate reflects both the cultural emphasis on homeownership in Utah and the fact that historically, buying has outperformed renting in this region over long timeframes.

The unemployment rate is 3.5% as of November 2025. The Ogden economy draws on manufacturing, defense contracting, and proximity to the Salt Lake City employment base. Hill Air Force Base is a major anchor employer in the metro. That institutional employment base adds stability that pure private-sector markets lack.

The Price-to-Rent Reality

The rent index for Ogden is $1,627 per month as of December 2025. At the Zillow home value of $509,329, that produces a gross rent multiplier of approximately 26.1. Markets with a GRM above 20 typically do not pencil for cash flow investing using standard leverage assumptions.

Ogden is not a cash flow market. Investors seeking strong cap rates and immediate cash-on-cash returns from day one will find the numbers challenging here. The case for Ogden is appreciation driven by population growth, constrained supply, and a score that has consistently held between 55 and 75 over the past two years.

Price cuts are present but not elevated. As of February 2026, 20.91% of active listings had taken a price reduction. That percentage is moderate for the Mountain West, where buyers gained significant negotiating leverage through 2024. It is not a sign of a distressed seller environment.

What Buyers and Investors Are Looking At

For buyers, the Ogden entry calculus is straightforward. You are paying above income-fundamental value, as with virtually every Western market. But the discount to Salt Lake City prices, combined with the same employment and infrastructure access, creates a geographic arbitrage that has consistently attracted buyers priced out of the Salt Lake core.

The five-year appreciation figure is 8.46% as of February 2026. That is lower than the Utah average over the same period, reflecting that Ogden ran up later and corrected more modestly than some surrounding markets. Zillow's 2.1% 12-month forecast, if realized, would place Ogden among the stronger performers in the Mountain West over the next year.

For long-term investors, the demographic profile, institutional employment base, and score recovery trajectory are the primary thesis. This is not a market for quick turnover strategies. It is a market for patient capital in a structurally growing state.

The Economic Context

The years-to-save metric for Ogden is 9.9 years as of December 2025, reflecting the time required to save a 20% down payment at local income and savings rates. That figure is high in absolute terms but lower than markets with similar price levels on lower incomes.

New construction in Ogden reached 75 units sold in November 2025, a modest but active pipeline. Utah's permitting environment has historically supported new supply, which prevents the extreme supply constraints seen in some Northeastern markets. That pipeline moderates the upside but also limits downside risk.

The income to comfortably support the rent level is $65,072 per year as of December 2025. Against a median household income of $98,361, Ogden renters are not financially stressed by housing costs at current rent levels. That rental affordability supports tenant retention and limits vacancy risk for landlords.

What This Market Is Not

A score of 71 does not mean Ogden is immune to the broader Mountain West correction cycle. Salt Lake City, Provo, and Boise all carried high scores during 2021 and 2022 before pulling back significantly. Ogden's score history shows it has held up better than most peers through that correction, but correlation to regional cycles is real.

The 46.8% overvaluation reading signals that prices need either income growth, rate decreases, or continued population inflows to sustain current levels. All three factors are present in Ogden's favor. But none are guaranteed.

The score of 71, the rising sales volume, the stable inventory, and the recovering trend over the past three months collectively point to a market with more demand than the current price environment has discouraged. That combination has historically preceded score consolidation in the 65 to 80 range rather than further decline.

PropertyIQ score as of February 28, 2026. Listing and inventory data as of February 1, 2026. Zillow home value data as of January 31, 2026. Sale-to-list data as of November 30, 2025. Forecast and rent data as of December 2025. Census data as of 2023. Economic data as of November 2025. All data for informational purposes only.