Vernal, UT—84078
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Vernal, UT
As of Oct '25, the median home price in Vernal, UT is $346,000, with a year-over-year change of 4.8%. This indicates that home prices in Vernal, UT are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $346,000 | 4.8% |
| Single Family | $358,000 | 5.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $232,000 | 5.9% |
3 Bed | $311,000 | 4.4% |
4 Bed | $381,000 | 5.2% |
| 5 Bed | $478,000 | 5.3% |
% of Housing Stock
Rental Trends — Vernal, UT
As of July '25, Rentcast reports the average rent in Vernal, UT is $1,380, with a year-over-year rent change of -8.6%. Per bedroom, the median rent as of July '25 in Vernal, UT is studios: $900, 1-bedrooms: $943, 2-bedrooms: $1,190, 3-bedrooms: $1,510, 4-bedrooms: $1,990. The most common rental property sizes in Vernal, UT are 2-bedroom and 3-bedroom, accounting for 48.2% and 36.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,380 |
| Studio Rent | $900 | $900 |
| 1 Bed Rent | $950 | $943 |
| 2 Bed Rent | $1,200 | $1,190 |
| 3 Bed Rent | $1,500 | $1,510 |
| 4 Bed Rent | $1,800 | $1,990 |
% of Rental Stock
Property Listings — Vernal, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Vernal, UT is 65. This is a increase of 4.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $424,000 | 7.0% |
Listing Count | 154 | 10.0% |
| Listings as % of Homes | 0.7% | 10.0% |
Days on Market | 65 | 4.0% |
Demographics — Vernal, UT
As of the latest ACS Survey released in 2023, Vernal, UT has a population of 30,700, which has increased by 1.5% over the past 5 years. Vernal, UT is a popular place for families, as children make up 33.1% of the population. The area has a poorly educated workforce, with 18.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,700 | 1.5% |
% Under 18 | 33.1% | -2.4% |
% Seniors | 10.8% | 12.5% |
% WFH | 5.9% | 37.2% |
% w/ College Degree | 18.2% | 13.7% |
As of the latest ACS Survey released in 2023, Vernal, UT is a predominantly white area, with 82.5% of the population identifying as white. The white population has shrunk by 4.3% in the last 5 years. The second most common race or ethnicity in Vernal, UT is hispanic, making up 8.4% of the population. Foreign-born residents account for 2.1% of the population in Vernal, UT, and this percentage has decreased by 16.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.5% | -4.3% |
% Black | 0.6% | 0.0% |
% Hispanic | 8.4% | -9.7% |
% Asian | 0.6% | 100.0% |
% Foreign Born | 2.1% | -16.0% |
Mortgage and Risk — Vernal, UT
According to HUD data as of 2023, there were 761 mortgage originations in Vernal, UT, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Vernal, UT. Investor activity is low, as 1.0% 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 | 761 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Vernal, UT
Vernal, UT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 121 |
Total Units Section 8 | 72 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 78.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$200 | $950 | $750 |
| 2 Bedroom | -$270 | $1,200 | $930 |
| 3 Bedroom | -$200 | $1,500 | $1,300 |
| 4 Bedroom | -$220 | $1,800 | $1,580 |
Affordability — Vernal, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $346,000 |
| Median Household Income | $71,200 |