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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.



Washington Terrace, 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

Washington Terrace, UT Housing Market Trends

With 9,160 people, 3,409 houses or apartments, and a median cost of homes of $517,496, Washington Terrace real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Washington Terrace, accounting for 67.25% of the city's housing units. Other types of housing that are prevalent in Washington Terrace include large apartment complexes or high rise apartments ( 17.14%), row houses and other attached homes ( 8.96%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.96%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Washington Terrace. Owner-occupied housing accounts for 69.82% of Washington Terrace's homes, and 55.64% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Washington Terrace's housing was primarily built during this period, from the '40s through the '60s. A full 46.05% of the city's housing hails from this era. Other housing ages represented in Washington Terrace include homes built between 1970-1999 ( 37.66%) and housing constructed between 2000 and later ( 13.64%). There's also some housing in Washington Terrace built before 1939 ( 2.65%).

Washington Terrace Home Appreciation Rates

In the last 10 years, Washington Terrace has experienced some of the highest home appreciation rates of any community in the nation. Washington Terrace real estate appreciated 143.30% over the last ten years, which is an average annual home appreciation rate of 9.30%, putting Washington Terrace in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Washington Terrace 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, Washington Terrace appreciation rates have trailed the rest of the nation. In the last twelve months, Washington Terrace's appreciation rate has been 3.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Washington Terrace were at 0.24%, which equates to an annual appreciation rate of 0.96%.

Notably, Washington Terrace's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Utah, our data show that Washington Terrace's latest annual appreciation rate is lower than 50% of the other cities and towns in Utah.

Average Home Values

Median Home Value

$517,496

Washington Terrace, UT Home Prices
> $1,396,000
$1,046,001 - $1,396,000
$698,001 - $1,046,000
$558,001 - $698,000
$419,001 - $558,000
$279,001 - $419,000
$140,001 - $279,000
$70,001 - $140,000
$0 - $70,000
0.0%
0.0%
1.6%
1.6%
10.0%
10.0%
8.5%
8.5%
35.7%
35.7%
31.6%
31.6%
9.1%
9.1%
0.8%
0.8%
2.7%
2.7%
0% 100.0%
% of Homes
Average

for Utah

Very High

for nation

Number of Homes And Apartments:

3,409

Washington Terrace Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,418 / per month

Homeownership Rate

Owners
Renters
69.8%
69.8%
30.2%
30.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.9%
3.9%
96.1%
96.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.6%
13.6%
37.7%
37.7%
46.1%
46.1%
2.6%
2.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.2%
67.2%
9.0%
9.0%
5.0%
5.0%
17.1%
17.1%
1.7%
1.7%
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
2.2%
2.2%
4.7%
4.7%
28.0%
28.0%
25.0%
25.0%
30.6%
30.6%
9.5%
9.5%
0% 100.0%
% of Homes

Popular Neighborhoods in Washington Terrace

Zip Codes in Washington Terrace, UT