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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.



Herriman, 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 Q4 2023. 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

Herriman, UT Housing Market Trends

With 59,179 people, 16,075 houses or apartments, and a median cost of homes of $636,792, Herriman house prices are not only among the most expensive in Utah, Herriman real estate also is some of the most expensive in all of America.

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

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Herriman. Owner-occupied housing accounts for 81.36% of Herriman's homes, and 57.34% have either three or four bedrooms, which is average sized relative to America.

Herriman homes and real estate are some of the newest in America. 91.47% of Herriman'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 Herriman real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 5.90%), and between 1940-1969 ( 2.42%).

Herriman Home Appreciation Rates

Appreciation rates for homes in Herriman have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 101.26%, which ranks in the top 30% nationwide. This equates to an annual average Herriman house appreciation rate of 7.24%.

Over the last year, Herriman appreciation rates have trailed the rest of the nation. In the last twelve months, Herriman's appreciation rate has been -1.47%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Herriman were at -2.42%, which equates to an annual appreciation rate of -9.33%.

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

Relative to Utah, our data show that Herriman's latest annual appreciation rate is lower than 70% 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 Herriman differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Herriman - 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 Herriman real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$636,792

Herriman, UT Home Prices
> $1,265,000
$949,001 - $1,265,000
$632,001 - $949,000
$506,001 - $632,000
$380,001 - $506,000
$253,001 - $380,000
$126,001 - $253,000
$63,001 - $126,000
$0 - $63,000
2.0%
2.0%
8.7%
8.7%
32.5%
32.5%
30.1%
30.1%
18.0%
18.0%
5.9%
5.9%
0.6%
0.6%
0.4%
0.4%
1.8%
1.8%
0% 100.0%
% of Homes
Very High

for Utah

Very High

for nation

Number of Homes And Apartments:

16,075

Herriman Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,240 / per month

Homeownership Rate

Owners
Renters
81.4%
81.4%
18.6%
18.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.7%
1.7%
98.3%
98.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
91.5%
91.5%
5.9%
5.9%
2.4%
2.4%
0.2%
0.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
65.5%
65.5%
19.6%
19.6%
1.0%
1.0%
13.2%
13.2%
0.8%
0.8%
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
0.6%
0.6%
2.1%
2.1%
10.1%
10.1%
33.8%
33.8%
23.6%
23.6%
29.9%
29.9%
0% 100.0%
% of Homes