Payson, UT 84651 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Payson, UT—84651

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$509,000

4.2% YoY Growth

Household Income

$94,200

40.3% YoY Growth

Days on Market

13.0% Shorter YoY

Home Price Forecast

1.4%

Median Rent

$1,400

6.1% YoY Growth

1-Bed Rent

$1,160

10.4% YoY Growth

2-Bed Rent

$1,240

3.7% YoY Growth

3-Bed Rent

$1,650

2.9% YoY Growth

Home Price Trends — Payson, UT

As of Dec '25, the median home price in Payson, UT is $509,000, with a year-over-year change of 4.2%. This indicates that home prices in Payson, UT are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$509,000	4.2%
Single Family	$518,000	4.2%
Condos	$278,000	-0.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Payson, UT

As of July '25, Rentcast reports the average rent in Payson, UT is $1,540, with a year-over-year rent change of -6.1%. Per bedroom, the median rent as of July '25 in Payson, UT is 1-bedrooms: $1,170, 2-bedrooms: $1,300, 3-bedrooms: $1,680, 4-bedrooms: $2,000. The most common rental property sizes in Payson, UT are 2-bedroom and 3-bedroom, accounting for 44.4% and 35.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,400	$1,540
Studio Rent	N/A	N/A
1 Bed Rent	$1,160	$1,170
2 Bed Rent	$1,240	$1,300
3 Bed Rent	$1,650	$1,680
4 Bed Rent	$1,900	$2,000

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% of Rental Stock

1 Bedroom

6.6%

2 Bedrooms

44.4%

3 Bedrooms

35.8%

4 Bedrooms

8.1%

5+ Bedrooms

5.0%

Property Listings — Payson, UT

As of Dec '25, Realtor.com reports that the median days on market for a home in Payson, UT is 54. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$578,000	8.0%
Listing Count	140	25.0%
Listings as % of Homes	1.1%	25.0%
Days on Market	76	-13.0%

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Demographics — Payson, UT

As of the latest ACS Survey released in 2023, Payson, UT has a population of 29,500, which has increased by 14.2% over the past 5 years. Payson, UT is a popular place for families, as children make up 32.1% of the population. The area has a moderately educated workforce, with 29.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	29,500	14.2%
% Under 18	32.1%	-10.3%
% Seniors	10.7%	-0.9%
% WFH	13.2%	193.3%
% w/ College Degree	29.3%	15.4%

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As of the latest ACS Survey released in 2023, Payson, UT is a predominantly white area, with 80.6% of the population identifying as white. The white population has shrunk by 7.7% in the last 5 years. The second most common race or ethnicity in Payson, UT is hispanic, making up 14.6% of the population. Foreign-born residents account for 6.2% of the population in Payson, UT, and this percentage has increased by 26.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	80.6%	-7.7%
% Black	0.3%	200.0%
% Hispanic	14.6%	40.4%
% Asian	0.6%	100.0%
% Foreign Born	6.2%	26.5%

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Mortgage and Risk — Payson, UT

According to HUD data as of 2023, there were 735 mortgage originations in Payson, UT, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Payson, UT. Investor activity is low, as 2.0% 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	735
% Conventional Loans	84.0%
% Government Loans	16.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	10.0%

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Rentals and Section 8 — Payson, UT

As of 2024, the percent of homes in Payson, UT under the Section 8 program is 6.1%. 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. In Payson, UT, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

Section 8 Market Size

Total Units under HUD	77
Total Units Section 8	77
% Rentals under Section 8	6.1%
% Occupied Section 8	93.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$30	$1,160	$1,190
2 Bedroom	$140	$1,240	$1,380
3 Bedroom	$280	$1,650	$1,930
4 Bedroom	$420	$1,900	$2,320

Payson, UT—84651

Key Metrics at a Glance

Home Price Trends — Payson, UT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Payson, UT

% of Rental Stock

Property Listings — Payson, UT

Demographics — Payson, UT

Race and Ethnicity

Mortgage and Risk — Payson, UT

Mortgages

Rentals and Section 8 — Payson, UT

Section 8 Market Size

Section 8 Opportunity

Affordability — Payson, UT

Home Price to Income Ratio

Payson, UT — ZIP Code Boundary Map

Nearby ZIP Codes

Salem, UT

Santaquin, UT

Starr, UT

Goshen

Mapleton, UT

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	5.1
Median Home Price	$509,000
Median Household Income	$94,200

Payson, UT—84651

Key Metrics at a Glance

Home Price Trends — Payson, UT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Payson, UT

% of Rental Stock

Property Listings — Payson, UT

Demographics — Payson, UT

Race and Ethnicity

Mortgage and Risk — Payson, UT

Mortgages

Rentals and Section 8 — Payson, UT

Section 8 Market Size

Section 8 Opportunity

Affordability — Payson, UT

Home Price to Income Ratio

Payson, UT — ZIP Code Boundary Map

Nearby ZIP Codes

Salem, UT

Santaquin, UT

Starr, UT

Goshen

Mapleton, UT

Frequently Asked Questions

What is the average home price in Payson, UT 84651?

How have home prices in Payson, UT 84651 changed over the past year?

What is the home price projection for Payson, UT 84651?

What are the demographics of Payson, UT 84651?

How long does it take homes to sell in Payson, UT 84651?

What is the average rent price in Payson, UT 84651?