Magna, UT 84044 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Magna, UT—84044

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$440,000

3.6% YoY Growth

Household Income

$87,500

47.5% YoY Growth

Days on Market

1.0% Shorter YoY

Home Price Forecast

0.9%

Median Rent

$1,640

10.7% YoY Growth

1-Bed Rent

$1,100

7.3% YoY Growth

2-Bed Rent

$1,280

2.0% YoY Growth

3-Bed Rent

$2,070

0.5% YoY Growth

Home Price Trends — Magna, UT

As of Dec '25, the median home price in Magna, UT is $440,000, with a year-over-year change of 3.6%. This indicates that home prices in Magna, UT are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$440,000	3.6%
Single Family	$438,000	2.8%
Condos	$452,000	8.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Magna, UT

As of July '25, Rentcast reports the average rent in Magna, UT is $1,750, with a year-over-year rent change of -10.7%. Per bedroom, the median rent as of July '25 in Magna, UT is 1-bedrooms: $1,020, 2-bedrooms: $1,470, 3-bedrooms: $2,100, 4-bedrooms: $2,880. The most common rental property sizes in Magna, UT are 3-bedroom and 2-bedroom, accounting for 35.5% and 28.5% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,640	$1,750
Studio Rent	N/A	N/A
1 Bed Rent	$1,100	$1,020
2 Bed Rent	$1,280	$1,470
3 Bed Rent	$2,070	$2,100
4 Bed Rent	$2,840	$2,880

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% of Rental Stock

Studio

0.4%

1 Bedroom

18.7%

2 Bedrooms

28.5%

3 Bedrooms

35.5%

4 Bedrooms

13.5%

5+ Bedrooms

3.4%

Property Listings — Magna, UT

As of Dec '25, Realtor.com reports that the median days on market for a home in Magna, UT is 53. 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$448,000	-1.0%
Listing Count	100	-21.0%
Listings as % of Homes	1.3%	-21.0%
Days on Market	64	-1.0%

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Demographics — Magna, UT

As of the latest ACS Survey released in 2023, Magna, UT has a population of 29,500, which has increased by 7.4% over the past 5 years. Magna, UT is a popular place for families, as children make up 30.0% of the population. The area has a poorly educated workforce, with 14.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	29,500	7.4%
% Under 18	30.0%	-3.8%
% Seniors	8.3%	20.3%
% WFH	10.2%	209.1%
% w/ College Degree	14.1%	48.4%

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As of the latest ACS Survey released in 2023, Magna, UT is a predominantly white area, with 54.0% of the population identifying as white. The white population has shrunk by 11.6% in the last 5 years. The second most common race or ethnicity in Magna, UT is hispanic, making up 35.7% of the population. Foreign-born residents account for 15.8% of the population in Magna, UT, and this percentage has increased by 6.0% 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	54.0%	-11.6%
% Black	1.6%	433.3%
% Hispanic	35.7%	9.5%
% Asian	2.1%	50.0%
% Foreign Born	15.8%	6.0%

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Mortgage and Risk — Magna, UT

According to HUD data as of 2023, there were 840 mortgage originations in Magna, UT, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Magna, UT. Investor activity is low, as 1.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	840
% Conventional Loans	74.0%
% Government Loans	26.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	19.0%

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Rentals and Section 8 — Magna, UT

As of 2024, the percent of homes in Magna, UT under the Section 8 program is 8.9%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Magna, UT, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	226
Total Units Section 8	175
% Rentals under Section 8	8.9%
% Occupied Section 8	92.7%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$350	$1,100	$1,450
2 Bedroom	$470	$1,280	$1,750
3 Bedroom	$280	$2,070	$2,350
4 Bedroom	-$170	$2,840	$2,670

Magna, UT—84044

Key Metrics at a Glance

Home Price Trends — Magna, UT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Magna, UT

% of Rental Stock

Property Listings — Magna, UT

Demographics — Magna, UT

Race and Ethnicity

Mortgage and Risk — Magna, UT

Mortgages

Rentals and Section 8 — Magna, UT

Section 8 Market Size

Section 8 Opportunity

Affordability — Magna, UT

Home Price to Income Ratio

Magna, UT — ZIP Code Boundary Map

Nearby ZIP Codes

West Valley City, UT

Kearns, UT

Bingham Canyon, UT

West Valley City, UT

Glendale, Salt Lake City, UT

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.6
Median Home Price	$440,000
Median Household Income	$87,500

Magna, UT—84044

Key Metrics at a Glance

Home Price Trends — Magna, UT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Magna, UT

% of Rental Stock

Property Listings — Magna, UT

Demographics — Magna, UT

Race and Ethnicity

Mortgage and Risk — Magna, UT

Mortgages

Rentals and Section 8 — Magna, UT

Section 8 Market Size

Section 8 Opportunity

Affordability — Magna, UT

Home Price to Income Ratio

Magna, UT — ZIP Code Boundary Map

Nearby ZIP Codes

West Valley City, UT

Kearns, UT

Bingham Canyon, UT

West Valley City, UT

Glendale, Salt Lake City, UT

Frequently Asked Questions

What is the average home price in Magna, UT 84044?

How have home prices in Magna, UT 84044 changed over the past year?

What is the home price projection for Magna, UT 84044?

What are the demographics of Magna, UT 84044?

How long does it take homes to sell in Magna, UT 84044?

What is the average rent price in Magna, UT 84044?