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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 8,374, 2,876 total housing units (homes and apartments), and a median house value of $2,173,469, Park City house prices are not only among the most expensive in Utah, Park City real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Park City, accounting for 41.33% of the city's housing units. Other types of housing that are prevalent in Park City include large apartment complexes or high rise apartments ( 37.00%), duplexes, homes converted to apartments or other small apartment buildings ( 12.70%), and a few row houses and other attached homes ( 8.76%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Park City. Owner-occupied housing accounts for 74.26% of Park City's homes, and 52.80% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Park City built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Park City built between 2000 and later ( 28.29%). A lesser amount of the housing stock also hails from before 1939 ( 3.10%). There's also some housing in Park City built between 1940-1969 ( 1.28%).
A decent proportion of the Park City housing stock is seasonally occupied. That is, homes and condos in Park City are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Park City housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Park City has experienced some of the highest home appreciation rates of any community in the nation. Park City real estate appreciated 149.86% over the last ten years, which is an average annual home appreciation rate of 9.59%, putting Park City in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Park City definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Park City's appreciation rate, at 6.62%, has been at or slightly above the national average. In the latest quarter, Park City's appreciation rate has been 0.63%, which annualizes to a rate of 2.55%.
Relative to Utah, our data show that Park City's latest annual appreciation rate is higher 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 Park City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Park City - 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 Park City real estate investment or home purchase decisions.
$2,173,469
$2,852 / per month