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Millcreek, UT—84109

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$774,000
3.7% YoY Growth
Household Income
$137,000
49.1% YoY Growth
Days on Market
84
12.0% Longer YoY
Home Price Forecast
1.2%
Median Rent
$2,400
6.7% YoY Growth
1-Bed Rent
$1,050
8.6% YoY Growth
2-Bed Rent
$1,650
3.0% YoY Growth
3-Bed Rent
$2,400
0.4% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Millcreek, UT

As of Dec '25, the median home price in Millcreek, UT is $774,000, with a year-over-year change of 3.7%. This indicates that home prices in Millcreek, UT are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$774,0003.7%
Single Family $783,0003.6%
Condos $482,0003.7%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $394,000
    -0.5%
    2 Bed
    		$557,0005.1%
    3 Bed
    		$708,0003.8%
    4 Bed
    		$793,0003.5%
    5 Bed $952,2223.7%
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    % of Housing Stock

    Studio
    1.4%
    1 Bedroom
    5.2%
    2 Bedrooms
    16.0%
    3 Bedrooms
    20.9%
    4 Bedrooms
    31.4%
    5+ Bedrooms
    25.0%

    Rental Trends — Millcreek, UT

    As of July '25, Rentcast reports the average rent in Millcreek, UT is $2,380, with a year-over-year rent change of -6.7%. Per bedroom, the median rent as of July '25 in Millcreek, UT is 1-bedrooms: $1,170, 2-bedrooms: $1,740, 3-bedrooms: $2,480, 4-bedrooms: $3,090. The most common rental property sizes in Millcreek, UT are 2-bedroom and 3-bedroom, accounting for 46.7% and 16.6% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,400$2,380
    Studio Rent N/AN/A
    1 Bed Rent $1,050$1,170
    2 Bed Rent $1,650$1,740
    3 Bed Rent $2,400$2,480
    4 Bed Rent $3,200$3,090
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    % of Rental Stock

    Studio
    5.3%
    1 Bedroom
    16.5%
    2 Bedrooms
    46.7%
    3 Bedrooms
    16.6%
    4 Bedrooms
    9.8%
    5+ Bedrooms
    5.2%

    Property Listings — Millcreek, UT

    As of Dec '25, Realtor.com reports that the median days on market for a home in Millcreek, UT is 66. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time 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.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$920,0007.0%
    Listing Count
    		496.0%
    Listings as % of Homes0.5%6.0%
    Days on Market
    		8412.0%
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    Demographics — Millcreek, UT

    As of the latest ACS Survey released in 2023, Millcreek, UT has a population of 25,900, which has increased by 5.9% over the past 5 years. Millcreek, UT is a popular place for families, as children make up 25.5% of the population. The area has a highly educated workforce, with 68.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 25.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		25,9005.9%
    % Under 18
    		25.5%5.8%
    % Seniors
    		14.1%-10.2%
    % WFH
    		25.0%242.5%
    % w/ College Degree
    		68.7%14.1%
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    As of the latest ACS Survey released in 2023, Millcreek, UT is a predominantly white area, with 88.0% of the population identifying as white. The white population has grown by 0.6% in the last 5 years. The second most common race or ethnicity in Millcreek, UT is hispanic, making up 4.4% of the population. Foreign-born residents account for 4.6% of the population in Millcreek, UT, and this percentage has decreased by 35.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		88.0%0.6%
    % Black
    		0.2%-66.7%
    % Hispanic
    		4.4%-31.2%
    % Asian
    		3.3%-5.7%
    % Foreign Born
    		4.6%-35.2%
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    Mortgage and Risk — Millcreek, UT

    According to HUD data as of 2023, there were 429 mortgage originations in Millcreek, UT, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 45.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Millcreek, UT. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		429
    % Conventional Loans
    		96.0%
    % Government Loans
    		4.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		2.0%
    % Cash Out Refinance
    		11.0%
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    Rentals and Section 8 — Millcreek, UT

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

    Section 8 Market Size

    Total Units under HUD
    		20
    Total Units Section 8
    		20
    % Rentals under Section 8
    		1.3%
    % Occupied Section 8
    		92.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$610$1,050$1,660
    2 Bedroom$350$1,650$2,000
    3 Bedroom$290$2,400$2,690
    4 Bedroom-$150$3,200$3,050

    Affordability — Millcreek, UT

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio5.3
    Median Home Price$774,000
    Median Household Income$137,000

    Millcreek, UT — ZIP Code Boundary Map

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    Frequently Asked Questions