With 84,405 people, 27,803 houses or apartments, and a median cost of homes of $328,350, St. George real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in St. George, accounting for 66.65% of the city's housing units. Other types of housing that are prevalent in St. George include large apartment complexes or high rise apartments ( 13.16%), duplexes, homes converted to apartments or other small apartment buildings ( 8.04%), and a few row houses and other attached homes ( 8.02%).
The most prevalent building size and type in St. George are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.62% owning and 35.38% renting.
There is a lot of housing in St. George built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in St. George built between 2000 and later ( 38.94%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.11%).
Vacant housing appears to be an issue in St. George. Fully 19.20% of the housing stock is classified as vacant. Left unchecked, vacant St. George homes and apartments can be a drag on the real estate market, holding St. George real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in St. George have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 17.21%, which ranks in the top 50% nationwide. This equates to an annual average St. George house appreciation rate of 1.60%.
Appreciation rates are so strong in St. George that despite a nationwide downturn in the housing market, St. George real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, St. George appreciation rates continue to be some of the highest in America, at 9.44%, which is higher than appreciation rates in 88.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in St. George. St. George appreciation rates in the latest quarter were at 2.27%, which equates to an annual appreciation rate of 9.41%.
Relative to Utah, our data show that St. George's latest annual appreciation rate is lower than 50% of the other cities and towns in Utah.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within St. George differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in St. George - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best St. George real estate investment or home purchase decisions.