Pleasant Grove, UT—84062
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Pleasant Grove, UT
As of Oct '25, the median home price in Pleasant Grove, UT is $573,000, with a year-over-year change of 2.7%. This indicates that home prices in Pleasant Grove, 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 | $573,000 | 2.7% |
| Single Family | $594,000 | 3.1% |
| Condos | $323,000 | -1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $420,000 | 1.2% |
3 Bed | $479,000 | 2.1% |
4 Bed | $588,000 | 2.3% |
| 5 Bed | $721,000 | 2.3% |
% of Housing Stock
Rental Trends — Pleasant Grove, UT
As of July '25, Rentcast reports the average rent in Pleasant Grove, UT is $1,940, with a year-over-year rent change of -7.6%. Per bedroom, the median rent as of July '25 in Pleasant Grove, UT is studios: $1,020, 1-bedrooms: $1,140, 2-bedrooms: $1,540, 3-bedrooms: $1,880, 4-bedrooms: $2,580. The most common rental property sizes in Pleasant Grove, UT are 3-bedroom and 2-bedroom, accounting for 39.5% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,940 |
| Studio Rent | $795 | $1,020 |
| 1 Bed Rent | $1,140 | $1,140 |
| 2 Bed Rent | $1,420 | $1,540 |
| 3 Bed Rent | $1,800 | $1,880 |
| 4 Bed Rent | $2,500 | $2,580 |
% of Rental Stock
Property Listings — Pleasant Grove, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Pleasant Grove, UT is 55. This is a increase of 16.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $615,000 | 1.0% |
Listing Count | 145 | 41.0% |
| Listings as % of Homes | 0.6% | 41.0% |
Days on Market | 55 | 16.0% |
Demographics — Pleasant Grove, UT
As of the latest ACS Survey released in 2023, Pleasant Grove, UT has a population of 47,500, which has remained stable by -0.7% over the past 5 years. Pleasant Grove, UT is a popular place for families, as children make up 32.6% of the population. The area has a moderately educated workforce, with 43.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 47,500 | -0.7% |
% Under 18 | 32.6% | -6.6% |
% Seniors | 9.7% | 21.2% |
% WFH | 17.3% | 124.7% |
% w/ College Degree | 43.4% | 3.6% |
As of the latest ACS Survey released in 2023, Pleasant Grove, UT is a predominantly white area, with 82.1% of the population identifying as white. The white population has shrunk by 5.5% in the last 5 years. The second most common race or ethnicity in Pleasant Grove, UT is hispanic, making up 11.3% of the population. Foreign-born residents account for 6.1% of the population in Pleasant Grove, UT, and this percentage has increased by 17.3% 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 | 82.1% | -5.5% |
% Black | 0.4% | 0.0% |
% Hispanic | 11.3% | 39.5% |
% Asian | 1.8% | 28.6% |
% Foreign Born | 6.1% | 17.3% |
Mortgage and Risk — Pleasant Grove, UT
According to HUD data as of 2023, there were 716 mortgage originations in Pleasant Grove, UT, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Pleasant Grove, UT. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 716 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Pleasant Grove, UT
As of 2024, the percent of homes in Pleasant Grove, UT under the Section 8 program is 3.4%. 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 Pleasant Grove, UT, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 128 |
Total Units Section 8 | 128 |
% Rentals under Section 8 | 3.4% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $1,140 | $1,260 |
| 2 Bedroom | $40 | $1,420 | $1,460 |
| 3 Bedroom | $250 | $1,800 | $2,050 |
| 4 Bedroom | -$50 | $2,500 | $2,450 |
Affordability — Pleasant Grove, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $573,000 |
| Median Household Income | $102,000 |