Price, UT Housing Market

Market Overview

Price, UT currently presents as a weak market, with a PropertyIQ score of 17 out of 100. The median home value is $285,656, well below the state average of $539,949. The rent index is $950, compared with $1,405 statewide, and median household income is $53,673, compared with $91,750 statewide. Unemployment matches the state at 3.6%. These figures point to a lower-cost market that also operates with lower local incomes and rents.

The score drivers help explain the low overall score. Top drivers include a 12-month home value momentum reading of 8.07%, a 3-month momentum reading of 0.54%, a median days on market of 84 days, and a 29.2% share of listings with a price cut. Together, the data shows uneven price movement and a sales environment where homes are taking time to sell. The median home value’s year-over-year change is listed as -$9, keeping the annual picture essentially flat-to-down. With 108 homes for sale and no population growth figure provided, demand-side signals are incomplete, but slow turnover and discounting reinforce the weak score.

Key Trends

One trend is the affordability gap relative to the state. Price’s median home value of $285,656 is about $254,000 below the state average of $539,949, and its rent index of $950 is $455 below the state average of $1,405. Median household income is also lower at $53,673 versus $91,750 statewide. Price is not simply a cheaper version of the state market; it operates at lower income and rent levels as well.

A second trend is slower sales conditions. The median days on market is 84 days, and 29.2% of listings have had a price cut. Both are top score drivers and suggest sellers are competing more for buyers. The 108 homes for sale is a modest absolute count, but without a benchmark, the supply picture is incomplete.

A third trend is mixed home value movement. The 12-month home value momentum reading of 8.07% is followed by a much smaller 3-month reading of 0.54%, which may indicate cooling. That softer recent momentum aligns with the median home value year-over-year change of -$9 and elevated price-cut activity.

A fourth trend is the rental dynamic. The local rent index of $950 is well below the state average of $1,405, which reduces absolute rent a landlord might expect. However, because the median home value is also much lower, the trade-off between purchase price and rent may still be relevant. Lower median household income also points to affordability pressures for local renters and buyers.

Who Is This Market For

This market is most likely to suit first-time buyers and budget-conscious households. The median home value of $285,656 is substantially below the state average of $539,949, and a 29.2% price-cut share gives buyers room to negotiate. An 84-day median days on market means buyers can take more time. However, local median household income of $53,673 is below the state benchmark, so affordability is still constrained by local earning power.

Price may also attract investors who prioritize lower acquisition costs over top-market rents. The rent index of $950 is modest compared with $1,405 statewide, but the median home value is also far lower. Investors will need to factor in the weak PropertyIQ score of 17 out of 100, slow market pace, and price-cut activity. Move-up buyers may find less support because price momentum is uneven and the annual median home value change is essentially flat at -$9, making it harder to rely on appreciation.

Outlook

The data supports a cautious outlook for Price, UT. The 12-month home value momentum of 8.07% and 3-month reading of 0.54% show some movement, but the year-over-year median home value change of -$9, 84-day median time on market, and 29.2% price-cut share point