Cedar City, UT—84720
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Cedar City, UT
Home Price Trends — Cedar City, UT
As of Oct '25, the median home price in Cedar City, UT is $421,000, with a year-over-year change of 3.6%. This indicates that home prices in Cedar City, UT are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $421,000 | 3.6% |
| Single Family | $427,000 | 3.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $282,000 | 2.5% |
3 Bed | $366,000 | 3.1% |
4 Bed | $432,000 | 2.9% |
| 5 Bed | $549,000 | 4.2% |
% of Housing Stock
Rental Trends — Cedar City, UT
As of July '25, Rentcast reports the average rent in Cedar City, UT is $1,310, with a year-over-year rent change of 4.0%. Per bedroom, the median rent as of July '25 in Cedar City, UT is 1-bedrooms: $549, 2-bedrooms: $1,230, 3-bedrooms: $1,600, 4-bedrooms: $1,880. The most common rental property sizes in Cedar City, UT are 3-bedroom and 2-bedroom, accounting for 47.1% and 25.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,310 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $475 | $549 |
| 2 Bed Rent | $1,100 | $1,230 |
| 3 Bed Rent | $1,650 | $1,600 |
| 4 Bed Rent | $1,900 | $1,880 |
% of Rental Stock
Property Listings — Cedar City, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Cedar City, UT is 68. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time 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 | $529,000 | 14.0% |
Listing Count | 290 | 40.0% |
| Listings as % of Homes | 1.3% | 40.0% |
Days on Market | 68 | 1.0% |
Demographics — Cedar City, UT
As of the latest ACS Survey released in 2023, Cedar City, UT has a population of 24,300, which has increased by 13.0% over the past 5 years. Cedar City, UT is a moderately popular place for families, as children make up 24.6% of the population. The area has a moderately educated workforce, with 34.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,300 | 13.0% |
% Under 18 | 24.6% | -7.2% |
% Seniors | 14.3% | 16.3% |
% WFH | 11.6% | 213.5% |
% w/ College Degree | 34.7% | -9.9% |
As of the latest ACS Survey released in 2023, Cedar City, UT is a predominantly white area, with 82.0% of the population identifying as white. The white population has shrunk by 8.2% in the last 5 years. The second most common race or ethnicity in Cedar City, UT is hispanic, making up 9.6% of the population. Foreign-born residents account for 4.5% of the population in Cedar City, UT, and this percentage has increased by 60.7% 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 | 82.0% | -8.2% |
% Black | 1.2% | 50.0% |
% Hispanic | 9.6% | 68.4% |
% Asian | 1.9% | 171.4% |
% Foreign Born | 4.5% | 60.7% |
Mortgage and Risk — Cedar City, UT
According to HUD data as of 2023, there were 597 mortgage originations in Cedar City, UT, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Cedar City, UT. Investor activity is low, as 2.0% 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 | 597 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Cedar City, UT
As of 2024, the percent of homes in Cedar City, UT under the Section 8 program is 4.7%. 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 Cedar City, 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 | 135 |
Total Units Section 8 | 135 |
% Rentals under Section 8 | 4.7% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $515 | $475 | $990 |
| 2 Bedroom | $120 | $1,100 | $1,220 |
| 3 Bedroom | $30 | $1,650 | $1,680 |
| 4 Bedroom | $170 | $1,900 | $2,070 |
Affordability — Cedar City, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.5 |
| Median Home Price | $421,000 |
| Median Household Income | $63,700 |