Millcreek, UT—84109
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Millcreek, UT
As of Oct '25, the median home price in Millcreek, UT is $780,000, with a year-over-year change of 3.6%. This indicates that home prices in Millcreek, 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 | $780,000 | 3.6% |
| Single Family | $789,000 | 3.7% |
| Condos | $484,000 | 3.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $392,000 | 0.3% |
2 Bed | $558,000 | 5.1% |
3 Bed | $712,000 | 3.8% |
4 Bed | $799,000 | 3.5% |
| 5 Bed | $965,000 | 3.9% |
% of Housing Stock
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.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,380 |
| Studio Rent | N/A | N/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 |
% of Rental Stock
Property Listings — Millcreek, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Millcreek, UT is 58. This is a increase of 15.0% 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 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $925,000 | 1.0% |
Listing Count | 66 | 11.0% |
| Listings as % of Homes | 0.5% | 11.0% |
Days on Market | 58 | 15.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,900 | 5.9% |
% Under 18 | 25.5% | 5.8% |
% Seniors | 14.1% | -10.2% |
% WFH | 25.0% | 242.5% |
% w/ College Degree | 68.7% | 14.1% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.3 |
| Median Home Price | $780,000 |
| Median Household Income | $137,000 |