Nephi, UT—84648
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Nephi, UT
As of Oct '25, the median home price in Nephi, UT is $437,000, with a year-over-year change of 3.6%. This indicates that home prices in Nephi, UT are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $437,000 | 3.6% |
| Single Family | $437,000 | 4.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Nephi, UT
As of July '25, Rentcast reports the average rent in Nephi, UT is $1,770, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in Nephi, UT is 2-bedrooms: $983, 3-bedrooms: $3,100. The most common rental property sizes in Nephi, UT are 3-bedroom and 2-bedroom, accounting for 52.2% and 22.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,770 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $825 | $983 |
| 3 Bed Rent | $3,100 | $3,100 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Nephi, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Nephi, UT is 101. This is a increase of 12.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $470,000 | 1.0% |
Listing Count | 51 | 24.0% |
| Listings as % of Homes | 2.6% | 24.0% |
Days on Market | 101 | 12.0% |
Demographics — Nephi, UT
As of the latest ACS Survey released in 2023, Nephi, UT has a population of 7,290, which has increased by 19.3% over the past 5 years. Nephi, UT is a popular place for families, as children make up 31.9% of the population. The area has a poorly educated workforce, with 21.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,290 | 19.3% |
% Under 18 | 31.9% | 3.6% |
% Seniors | 11.4% | -14.3% |
% WFH | 7.9% | 83.7% |
% w/ College Degree | 21.8% | 16.6% |
As of the latest ACS Survey released in 2023, Nephi, UT is a predominantly white area, with 91.4% of the population identifying as white. The white population has grown by 0.4% in the last 5 years. The second most common race or ethnicity in Nephi, UT is hispanic, making up 5.0% of the population. Foreign-born residents account for 2.3% of the population in Nephi, UT, and this percentage has decreased by 4.2% 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 | 91.4% | 0.4% |
% Black | 1.2% | 1,100.0% |
% Hispanic | 5.0% | -19.4% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 2.3% | -4.2% |
Mortgage and Risk — Nephi, UT
According to HUD data as of 2023, there were 188 mortgage originations in Nephi, UT, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Nephi, 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 | 188 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Nephi, UT
Nephi, UT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $990 |
| 2 Bedroom | $305 | $825 | $1,130 |
| 3 Bedroom | -$1,510 | $3,100 | $1,590 |
| 4 Bedroom | N/A | N/A | $1,920 |
Affordability — Nephi, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $437,000 |
| Median Household Income | $97,700 |