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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Lehi, UT Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lehi, UT Housing Market Trends

With a population of 84,373, 21,250 total housing units (homes and apartments), and a median house value of $645,387, real estate costs in Lehi are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Utah communities.

Lehi is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Lehi than is found in 98% of the communities in America.

The large homes that make up Lehi are primarily owner-occupied ( 78.31%).

Lehi homes and real estate are some of the newest in America. 71.68% of Lehi's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lehi real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 21.12%), and between 1940-1969 ( 4.95%). There's also some housing in Lehi built before 1939 ( 2.25%).

Lehi Home Appreciation Rates

In the last 10 years, Lehi has experienced some of the highest home appreciation rates of any community in the nation. Lehi real estate appreciated 117.42% over the last ten years, which is an average annual home appreciation rate of 8.08%, putting Lehi in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lehi definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Lehi appreciation rates have trailed the rest of the nation. In the last twelve months, Lehi's appreciation rate has been 1.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lehi were at 2.43%, which equates to an annual appreciation rate of 10.09%.

Relative to Utah, our data show that Lehi's latest annual appreciation rate is lower than 80% of the other cities and towns in Utah.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lehi differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lehi - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lehi real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$645,387

Lehi, UT Home Prices
> $1,336,000
$1,002,001 - $1,336,000
$668,001 - $1,002,000
$534,001 - $668,000
$401,001 - $534,000
$267,001 - $401,000
$134,001 - $267,000
$67,001 - $134,000
$0 - $67,000
4.0%
4.0%
10.1%
10.1%
34.3%
34.3%
24.3%
24.3%
16.0%
16.0%
8.4%
8.4%
1.1%
1.1%
0.8%
0.8%
1.0%
1.0%
0% 100.0%
% of Homes
High

for Utah

Very High

for nation

Number of Homes And Apartments:

21,250

Lehi Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,406 / per month

Homeownership Rate

Owners
Renters
78.3%
78.3%
21.7%
21.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.6%
2.6%
97.4%
97.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
71.7%
71.7%
21.1%
21.1%
4.9%
4.9%
2.2%
2.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
75.3%
75.3%
10.7%
10.7%
4.4%
4.4%
9.2%
9.2%
0.4%
0.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.4%
0.4%
2.6%
2.6%
9.5%
9.5%
30.7%
30.7%
24.9%
24.9%
31.8%
31.8%
0% 100.0%
% of Homes