Draper, UT—84020
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Draper, UT
As of Oct '25, the median home price in Draper, UT is $796,000, with a year-over-year change of 2.1%. This indicates that home prices in Draper, UT are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $796,000 | 2.1% |
| Single Family | $837,000 | 2.2% |
| Condos | $582,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $454,000 | 0.4% |
3 Bed | $586,000 | 1.9% |
4 Bed | $797,000 | 2.6% |
| 5 Bed | $1,034,000 | 2.5% |
% of Housing Stock
Rental Trends — Draper, UT
As of July '25, Rentcast reports the average rent in Draper, UT is $2,540, with a year-over-year rent change of -5.6%. Per bedroom, the median rent as of July '25 in Draper, UT is studios: $1,240, 1-bedrooms: $1,430, 2-bedrooms: $1,860, 3-bedrooms: $2,460, 4-bedrooms: $2,970. The most common rental property sizes in Draper, UT are 2-bedroom and 1-bedroom, accounting for 42.7% and 20.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,340 | $2,540 |
| Studio Rent | $1,240 | $1,240 |
| 1 Bed Rent | $1,390 | $1,430 |
| 2 Bed Rent | $1,860 | $1,860 |
| 3 Bed Rent | $2,350 | $2,460 |
| 4 Bed Rent | $2,900 | $2,970 |
% of Rental Stock
Property Listings — Draper, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Draper, UT is 59. This is a increase of 10.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 45.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $917,000 | -2.0% |
Listing Count | 185 | -5.0% |
| Listings as % of Homes | 0.6% | -5.0% |
Days on Market | 59 | 10.0% |
Demographics — Draper, UT
As of the latest ACS Survey released in 2023, Draper, UT has a population of 50,200, which has increased by 5.8% over the past 5 years. Draper, UT is a popular place for families, as children make up 30.1% of the population. The area has a highly educated workforce, with 50.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 50,200 | 5.8% |
% Under 18 | 30.1% | -5.3% |
% Seniors | 10.0% | 37.0% |
% WFH | 23.4% | 107.1% |
% w/ College Degree | 50.8% | 1.4% |
As of the latest ACS Survey released in 2023, Draper, UT is a predominantly white area, with 78.6% of the population identifying as white. The white population has shrunk by 7.6% in the last 5 years. The second most common race or ethnicity in Draper, UT is hispanic, making up 8.1% of the population. Foreign-born residents account for 10.8% of the population in Draper, UT, and this percentage has increased by 44.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 78.6% | -7.6% |
% Black | 1.9% | 171.4% |
% Hispanic | 8.1% | 17.4% |
% Asian | 5.1% | 15.9% |
% Foreign Born | 10.8% | 44.0% |
Mortgage and Risk — Draper, UT
According to HUD data as of 2023, there were 114 mortgage originations in Draper, UT, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 39.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Draper, UT. Investor activity is low, as 0.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 114 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Draper, UT
As of 2024, the percent of homes in Draper, UT under the Section 8 program is 1.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Draper, UT, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 91 |
Total Units Section 8 | 91 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $340 | $1,390 | $1,730 |
| 2 Bedroom | $220 | $1,860 | $2,080 |
| 3 Bedroom | $440 | $2,350 | $2,790 |
| 4 Bedroom | $290 | $2,900 | $3,190 |
Affordability — Draper, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.9 |
| Median Home Price | $796,000 |
| Median Household Income | $131,000 |