There’s a the age old question everyone thinks about when they decide to move to a city in Utah:
Should I buy a place or rent?
Well, we aren’t here today to solve that problem for you exactly. We are just assuming you’ll do the right thing and a buy a place 😉
And while we are happy to tell you the best place to live in Utah, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Beehive State.
To do that we are going to look at places in Utah that are growing faster than average, but where home prices are below average. In every day terms, the “deals”.
The best deal in Utah at the moment? That would be Enoch according to our analysis.
Here’s a look at the top ten places to buy a home in Utah for 2019:
- Enoch (Photos | Homes For Sale)
- Eagle Mountain (Photos | Homes For Sale)
- Harrisville (Homes For Sale)
- Ivins (Photos | Homes For Sale)
- Saratoga Springs (Photos | Homes For Sale)
- Herriman (Photos | Homes For Sale)
- Washington (Photos | Homes For Sale)
- Plain City (Photos | Homes For Sale)
- Spanish Fork (Photos | Homes For Sale)
- Midvale (Photos | Homes For Sale)
The methodology that wen’t into this can be a bit complicated, so we’ll break it down for you in as much detail as we can below.
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How do you determine the best places to buy a home in Utah for 2019?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we’ve put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we’d approach finding an up-and-coming place to live in Utah. Put differently, the analysis will try to find places in Utah with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2013-2017 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It’s still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still “cheap” for Utah with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 322 cities and towns in Utah, only 85 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 85 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a “best place to buy” index with the place having the lowest index being the best.
Turns out that Enoch is the best potential gem in the not-so-rough in the Beehive State.
Read on for more on these places.
Enoch was founded by Joel H. Johnson. It was originally known as Johnson’s Springs and Fort Johnson.
In 2011 Eagle Mountain extended further west with the annexation of the White Hills neighborhood, which had about 400 residents, as well as area that is part of the Pole Canyon development plan. The land outside of white hills was Almost 2,900 acres.
The earliest recorded history of the area now known as Harrisville relates a double tragedy: In 1850 Urban Stewart built the first house in what was to become Harrisville. It was constructed of logs and was located about 300 yards to the southwest of where the Harrisville chapel of The Church of Jesus Christ of Latter-day Saints was later constructed. Stewart had planted a garden and watched over it with care. On the night of September 16, 1850, Stewart heard rustling out in his corn patch and saw a moving object, which he fired at, killing Chief Terikee, of the Shoshone people. The Indians retaliated by killing a white man named Campbell, a transient employee of Farr’s Mill, and Stewart had to leave the country. The Indians were intent on destroying the Weber County settlement. When the LDS Church authorities sent 150 men to help secure the Weber colony, Terikee’s band took the body of their chief and retreated northward.
Prior to the arrival of Mormon settlers, this area was inhabited for thousands of years by the Paiute people and their ancestors. The Shivwits Band of Paiutes reservation is located immediately west of Ivins City.
The natural hot springs near the source of the Jordan River inspired early European-American settlers to create a resort known as Beck’s Saratoga Springs, named after the original New York resort and owner John Beck. The Beck family opened their resort in 1884 and used it as their residence. With several lodge buildings and amusement park facilities, the resort became a popular location for tourists and visitors. The original buildings were taken down. The resort area has now been redeveloped privately, containing an outdoor pool, clubhouse, bowery, and kitchen facility for groups and parties.
Herriman was established in 1849 by Robert Dansie, Henry Harriman, and Thomas Jefferson Butterfield. A monument located in the Herriman City Cemetery lists the original four families of Herriman as the Thomas Jefferson Butterfield, John Jay Stocking, Robert Cowan Petty, and Henry Harriman families.
The Salt Lake Valley settlement began when wagon trains of members of The Church of Jesus Christ of Latter-day Saints began arriving in 1847. By 1858, farmers from the then-settled towns of Lehi and Kay’s Creek, looking for a new place to homestead, began considering the area now known as Plain City. On 17 March 1859, led by Lorin Farr, a group arrived to begin homesteading. Soon after arriving, the group surveyed a townsite and assigned building lots. The town layout used an organized grid system of blocks and streets, originally six blocks north-to-south and three blocks east-to-west. Each block was 5 acres in area, divided into 4 lots. The first settlers were allowed their choice in selection of a lot.
Spanish Fork was settled by Mormon pioneers in 1851. Its name derives from a visit to the area by two Franciscan friars from Spain, Silvestre Vlez de Escalante and Francisco Atanasio Domnguez in 1776, who followed the stream down Spanish Fork canyon with the objective of opening a new trail from Santa Fe, New Mexico, to the Spanish missions in California, along a route later followed by fur trappers. They described the area inhabited by Native Americans as having “spreading meadows, where there is sufficient irrigable land for two good settlements. Over and above these finest of advantages, it has plenty of firewood and timber in the adjacent sierra which surrounds its many sheltered spots, waters, and pasturages, for raising cattle and sheep and horses.”
Just like the wandering Ute bands before them, Utah’s Pioneer settlers began with a dependence on the land and the landscape; thus, early pioneers were quick to recognize the richness inherent in the Salt Lake Valley. They saw the abundant creeks and the grassy valley and envisioned farmlands and fields. They discovered the minerals and ores that envisioned thriving communities of commerce and industry.
There You Have It – The Best Places To Purchase A House In Utah for 2019
There’s our analysis of the best places to buy a house in Utah. And, to be clear, we aren’t necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 322 places in the state.
So if we’d could rent or buy in these cities, we’d definitely buy.
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