Saratoga Springs, UT—84045
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Saratoga Springs, UT
As of Oct '25, the median home price in Saratoga Springs, UT is $566,000, with a year-over-year change of 1.8%. This indicates that home prices in Saratoga Springs, 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 | $566,000 | 1.8% |
| Single Family | $584,000 | 2.1% |
| Condos | $322,000 | -2.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $460,000 | 0.2% |
4 Bed | $620,000 | 2.1% |
| 5 Bed | $700,000 | 1.4% |
% of Housing Stock
Rental Trends — Saratoga Springs, UT
As of July '25, Rentcast reports the average rent in Saratoga Springs, UT is $2,250, with a year-over-year rent change of 3.2%. Per bedroom, the median rent as of July '25 in Saratoga Springs, UT is 1-bedrooms: $910, 2-bedrooms: $1,520, 3-bedrooms: $2,020, 4-bedrooms: $2,460. The most common rental property sizes in Saratoga Springs, UT are 3-bedroom and 4-bedroom, accounting for 35.4% and 25.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $650 | $910 |
| 2 Bed Rent | $1,550 | $1,520 |
| 3 Bed Rent | $2,000 | $2,020 |
| 4 Bed Rent | $2,500 | $2,460 |
% of Rental Stock
Property Listings — Saratoga Springs, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Saratoga Springs, UT is 58. This is a decrease of -27.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $504,000 | -13.0% |
Listing Count | 703 | 18.0% |
| Listings as % of Homes | 4.7% | 18.0% |
Days on Market | 58 | -27.0% |
Demographics — Saratoga Springs, UT
As of the latest ACS Survey released in 2023, Saratoga Springs, UT has a population of 43,400, which has increased by 62.2% over the past 5 years. Saratoga Springs, UT is a popular place for families, as children make up 42.5% of the population. The area has a highly educated workforce, with 52.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,400 | 62.2% |
% Under 18 | 42.5% | -8.0% |
% Seniors | 5.1% | 37.8% |
% WFH | 24.1% | 117.1% |
% w/ College Degree | 52.2% | 12.5% |
As of the latest ACS Survey released in 2023, Saratoga Springs, UT is a predominantly white area, with 82.6% of the population identifying as white. The white population has shrunk by 7.0% in the last 5 years. The second most common race or ethnicity in Saratoga Springs, UT is hispanic, making up 11.8% of the population. Foreign-born residents account for 5.9% of the population in Saratoga Springs, UT, and this percentage has increased by 31.1% 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 | 82.6% | -7.0% |
% Black | 0.1% | -90.0% |
% Hispanic | 11.8% | 110.7% |
% Asian | 1.3% | 0.0% |
% Foreign Born | 5.9% | 31.1% |
Mortgage and Risk — Saratoga Springs, UT
According to HUD data as of 2023, there were 610 mortgage originations in Saratoga Springs, UT, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Saratoga Springs, UT. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 610 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Saratoga Springs, UT
As of 2024, the percent of homes in Saratoga Springs, UT under the Section 8 program is 1.3%. 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 Saratoga Springs, 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 | 17 |
Total Units Section 8 | 17 |
% Rentals under Section 8 | 1.3% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $1,010 | $650 | $1,660 |
| 2 Bedroom | $370 | $1,550 | $1,920 |
| 3 Bedroom | $690 | $2,000 | $2,690 |
| 4 Bedroom | $720 | $2,500 | $3,220 |
Affordability — Saratoga Springs, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $566,000 |
| Median Household Income | $124,000 |