Washington Terrace, UT—84405
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Washington Terrace, UT
As of Oct '25, the median home price in Washington Terrace, UT is $454,000, with a year-over-year change of 2.1%. This indicates that home prices in Washington Terrace, UT are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $454,000 | 2.1% |
| Single Family | $468,000 | 2.6% |
| Condos | $368,000 | 2.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $340,000 | 1.2% |
3 Bed | $427,000 | 1.9% |
4 Bed | $452,000 | 2.3% |
| 5 Bed | $601,000 | 3.4% |
% of Housing Stock
Rental Trends — Washington Terrace, UT
As of July '25, Rentcast reports the average rent in Washington Terrace, UT is $1,730, with a year-over-year rent change of 7.5%. Per bedroom, the median rent as of July '25 in Washington Terrace, UT is 1-bedrooms: $1,180, 2-bedrooms: $1,310, 3-bedrooms: $1,910, 4-bedrooms: $2,330. The most common rental property sizes in Washington Terrace, UT are 2-bedroom and 3-bedroom, accounting for 54.7% and 18.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,580 | $1,730 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,250 | $1,180 |
| 2 Bed Rent | $1,300 | $1,310 |
| 3 Bed Rent | $1,780 | $1,910 |
| 4 Bed Rent | $2,100 | $2,330 |
% of Rental Stock
Property Listings — Washington Terrace, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Washington Terrace, UT is 48. This is a increase of 6.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $450,000 | -1.0% |
Listing Count | 142 | 39.0% |
| Listings as % of Homes | 0.5% | 39.0% |
Days on Market | 48 | 6.0% |
Demographics — Washington Terrace, UT
As of the latest ACS Survey released in 2023, Washington Terrace, UT has a population of 34,900, which has increased by 8.2% over the past 5 years. Washington Terrace, UT is a popular place for families, as children make up 27.0% of the population. The area has a moderately educated workforce, with 30.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,900 | 8.2% |
% Under 18 | 27.0% | -2.2% |
% Seniors | 14.1% | -0.7% |
% WFH | 14.9% | 204.1% |
% w/ College Degree | 30.6% | 11.7% |
As of the latest ACS Survey released in 2023, Washington Terrace, UT is a predominantly white area, with 78.6% of the population identifying as white. The white population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in Washington Terrace, UT is hispanic, making up 12.9% of the population. Foreign-born residents account for 5.0% of the population in Washington Terrace, UT, and this percentage has decreased by 7.4% 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 | 78.6% | -6.8% |
% Black | 1.3% | 18.2% |
% Hispanic | 12.9% | 19.4% |
% Asian | 1.6% | 33.3% |
% Foreign Born | 5.0% | -7.4% |
Mortgage and Risk — Washington Terrace, UT
According to HUD data as of 2023, there were 966 mortgage originations in Washington Terrace, UT, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Washington Terrace, UT. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 966 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Washington Terrace, UT
As of 2024, the percent of homes in Washington Terrace, UT under the Section 8 program is 6.8%. 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. 2-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Washington Terrace, UT, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 205 |
Total Units Section 8 | 205 |
% Rentals under Section 8 | 6.8% |
% Occupied Section 8 | 85.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,250 | $1,190 |
| 2 Bedroom | $170 | $1,300 | $1,470 |
| 3 Bedroom | $190 | $1,780 | $1,970 |
| 4 Bedroom | $290 | $2,100 | $2,390 |
Affordability — Washington Terrace, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $454,000 |
| Median Household Income | $84,500 |