Spanish Fork, UT—84660
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Spanish Fork, UT
As of Oct '25, the median home price in Spanish Fork, UT is $509,000, with a year-over-year change of 2.6%. This indicates that home prices in Spanish Fork, UT are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $509,000 | 2.6% |
| Single Family | $513,000 | 3.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $393,000 | 2.1% |
3 Bed | $463,000 | 2.2% |
4 Bed | $518,000 | 2.4% |
| 5 Bed | $621,000 | 2.8% |
% of Housing Stock
Rental Trends — Spanish Fork, UT
As of July '25, Rentcast reports the average rent in Spanish Fork, UT is $1,840, with a year-over-year rent change of -1.1%. Per bedroom, the median rent as of July '25 in Spanish Fork, UT is studios: $1,100, 1-bedrooms: $1,200, 2-bedrooms: $1,410, 3-bedrooms: $1,860, 4-bedrooms: $2,180. The most common rental property sizes in Spanish Fork, UT are 3-bedroom and 2-bedroom, accounting for 39.5% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,880 | $1,840 |
| Studio Rent | $899 | $1,100 |
| 1 Bed Rent | $895 | $1,200 |
| 2 Bed Rent | $1,400 | $1,410 |
| 3 Bed Rent | $1,880 | $1,860 |
| 4 Bed Rent | $2,150 | $2,180 |
% of Rental Stock
Property Listings — Spanish Fork, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Spanish Fork, UT is 56. This is a increase of 19.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $637,000 | 5.0% |
Listing Count | 291 | -2.0% |
| Listings as % of Homes | 1.8% | -2.0% |
Days on Market | 56 | 19.0% |
Demographics — Spanish Fork, UT
As of the latest ACS Survey released in 2023, Spanish Fork, UT has a population of 47,000, which has increased by 13.2% over the past 5 years. Spanish Fork, UT is a popular place for families, as children make up 36.2% of the population. The area has a moderately educated workforce, with 38.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 47,000 | 13.2% |
% Under 18 | 36.2% | -4.5% |
% Seniors | 9.0% | 30.4% |
% WFH | 13.6% | 134.5% |
% w/ College Degree | 38.1% | 20.6% |
As of the latest ACS Survey released in 2023, Spanish Fork, UT is a predominantly white area, with 81.1% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Spanish Fork, UT is hispanic, making up 13.7% of the population. Foreign-born residents account for 4.8% of the population in Spanish Fork, UT, and this percentage has decreased by 18.6% 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 | 81.1% | -4.9% |
% Black | 0.5% | 66.7% |
% Hispanic | 13.7% | 30.5% |
% Asian | 0.3% | 0.0% |
% Foreign Born | 4.8% | -18.6% |
Mortgage and Risk — Spanish Fork, UT
According to HUD data as of 2023, there were 1190 mortgage originations in Spanish Fork, UT, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Spanish Fork, UT. Investor activity is low, as 3.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,190 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Spanish Fork, UT
As of 2024, the percent of homes in Spanish Fork, UT under the Section 8 program is 3.6%. 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 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Spanish Fork, UT, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 134 |
Total Units Section 8 | 93 |
% Rentals under Section 8 | 3.6% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $275 | $895 | $1,170 |
| 2 Bedroom | -$50 | $1,400 | $1,350 |
| 3 Bedroom | $10 | $1,880 | $1,890 |
| 4 Bedroom | $120 | $2,150 | $2,270 |
Affordability — Spanish Fork, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $509,000 |
| Median Household Income | $98,400 |