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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.



Park City, 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

Park City, UT Housing Market Trends

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.

Park City Home Appreciation Rates

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.

Average Home Values

Median Home Value

$2,173,469

Park City Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,852 / per month

Homeownership Rate

Owners
Renters
74.3%
74.3%
25.7%
25.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
66.2%
66.2%
33.8%
33.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.3%
28.3%
67.3%
67.3%
1.3%
1.3%
3.1%
3.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
41.3%
41.3%
8.8%
8.8%
12.7%
12.7%
37.0%
37.0%
0.2%
0.2%
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
5.6%
5.6%
9.1%
9.1%
20.9%
20.9%
30.7%
30.7%
22.1%
22.1%
11.7%
11.7%
0% 100.0%
% of Homes