Lehi, UT—84043
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lehi, UT
As of Oct '25, the median home price in Lehi, UT is $567,000, with a year-over-year change of 2.2%. This indicates that home prices in Lehi, UT are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $567,000 | 2.2% |
| Single Family | $585,000 | 2.6% |
| Condos | $346,000 | 1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $455,000 | 6.3% |
3 Bed | $487,000 | 1.9% |
4 Bed | $605,000 | 2.4% |
| 5 Bed | $742,000 | 2.2% |
% of Housing Stock
Rental Trends — Lehi, UT
As of July '25, Rentcast reports the average rent in Lehi, UT is $2,040, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Lehi, UT is 1-bedrooms: $945, 2-bedrooms: $1,580, 3-bedrooms: $2,130, 4-bedrooms: $2,190. The most common rental property sizes in Lehi, UT are 3-bedroom and 2-bedroom, accounting for 34.6% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,040 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $945 | $945 |
| 2 Bed Rent | $1,530 | $1,580 |
| 3 Bed Rent | $2,100 | $2,130 |
| 4 Bed Rent | $2,400 | $2,190 |
% of Rental Stock
Property Listings — Lehi, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Lehi, UT is 71. This is a decrease of -10.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $680,000 | 17.0% |
Listing Count | 202 | -51.0% |
| Listings as % of Homes | 3.2% | -51.0% |
Days on Market | 71 | -10.0% |
Demographics — Lehi, UT
As of the latest ACS Survey released in 2023, Lehi, UT has a population of 81,800, which has increased by 31.2% over the past 5 years. Lehi, UT is a popular place for families, as children make up 37.2% of the population. The area has a highly educated workforce, with 50.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 81,800 | 31.2% |
% Under 18 | 37.2% | -12.3% |
% Seniors | 5.5% | -5.2% |
% WFH | 22.7% | 124.8% |
% w/ College Degree | 50.0% | 11.1% |
As of the latest ACS Survey released in 2023, Lehi, UT is a predominantly white area, with 83.7% of the population identifying as white. The white population has shrunk by 3.9% in the last 5 years. The second most common race or ethnicity in Lehi, UT is hispanic, making up 9.2% of the population. Foreign-born residents account for 6.0% of the population in Lehi, UT, and this percentage has increased by 20.0% 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 | 83.7% | -3.9% |
% Black | 0.5% | 150.0% |
% Hispanic | 9.2% | 21.1% |
% Asian | 2.1% | 16.7% |
% Foreign Born | 6.0% | 20.0% |
Mortgage and Risk — Lehi, UT
According to HUD data as of 2023, there were 891 mortgage originations in Lehi, UT, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Lehi, UT. Investor activity is low, as 3.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 891 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Lehi, UT
As of 2024, the percent of homes in Lehi, UT under the Section 8 program is 2.3%. 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 Lehi, 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 | 127 |
Total Units Section 8 | 127 |
% Rentals under Section 8 | 2.3% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $575 | $945 | $1,520 |
| 2 Bedroom | $230 | $1,530 | $1,760 |
| 3 Bedroom | $370 | $2,100 | $2,470 |
| 4 Bedroom | $560 | $2,400 | $2,960 |
Affordability — Lehi, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $567,000 |
| Median Household Income | $126,000 |