Bountiful Utah Real Estate
Based on the past 12 months, short-term property investors have found happiness in Bountiful. Despite a nationwide housing downturn, property prices continue to rise faster than in most communities. In BOUNTiful the appreciation rate is so high that it continues to rise faster in values
Bountiful's latest annual rate of appreciation is 7.5%, above the national average of 4.7%. Compared to Utah, data shows that annual property values have increased more than in most other Utah communities in the past 12 months. The largest hive is Beehive City, Utah with an annual rate of 6.2% and the largest hive is Salt Lake City with an annual growth rate of 1.6%.
The $1,037 rental price in Bountiful is also comparable to the state of Utah and 12.1% higher than reported in the rental price distribution area. The median tax rate for a single-family home in Farmington, shown, is 2.5% above the national average of 1.3%. BOUNTY has been able to compete with the states of Utah for the median property tax, with the median property tax at $1,748. This provides a snapshot of the average annual property tax rates for each Utah municipality.
This analysis is useful for understanding affordable housing and home ownership by excluding financing costs in the areas presented. This shows the median mortgage cost for single-family homes in Bountiful and Farmington for owners who do not have mortgages.
When you classify rent as a percentage of income, Bountiful has the second lowest median mortgage cost for single-family homes in the area, which is $21, and it has been shown that there is a middle range in other places. West Bounty was the only area in Utah with a lower median rent-to-income ratio than Farmington, with an average rent of 40pct and a median price of $4,000. No mortgage # 9 is the lowest mortgage price for a single-family home in Bourne County, but it has the third highest median rent, $3,500, for an area with an income of just over $2,400. In all 16 of the total, rents per per per cent income range between 40p - 50p, with the exception of one house at the top of this list, a $1,700 home.
The third shows the proportion of houses with or without a mortgage and it has the largest share (35% of the total) of the second mortgage helicopters. No mortgage # 1 ranks third in median rent-to-income ratio for single-family homes in Bourne County, with an average rent of 40pct.
Tenant percentage of 24.9 percent, which is in the middle range of other places in this area. It also shows that there is the second largest proportion of residential units in Bourne County, as the number of single-family homes with at least one owner shows. It's similar to Farmington, but it's about the same size as the apartment.
Bountiful has the highest median property tax in the region and ranks first in the number of homes with at least one owner. It has a median owner cost of $1,297, roughly the median owner cost of Farmington, but slightly higher than the average for the region. The median amount of property tax paid per homeowner in that region is $2,843, while the median is $3,071, about 2.5 times the median. Generously speaking, it points to an average tax rate of 1.8 percent, the second highest in Bourne County, and shows that taxes are paid much more than in other areas in our area.
Figure 10 shows the average property tax rate and associated costs for houses with at least one owner in the region. This includes the median cost to the owner of $2,843, $3,071 and $1,297, as shown in Figure 10. Figure 11 shows a breakdown of costs related to the number of homes in Bountiful, Farmington, Salt Lake City and other areas of Bourne County, including total cost per home, median cost for each home, and median cost for each property.
Figure 11 shows the number of homes owned by people in the area and the median cost per home. Figure 19 looks at the rental costs of rented properties, using the percentage of total household income that is a valuable measure of an area's financial health. Figure 20 shows the average property tax rate and associated costs for homes with at least one owner, as shown in Figure 20.
Bountiful has one of the largest shares of rents, with a percentage of income ranging from 10 to 20 percent (28 percent of the total), and ranks third. Utah has the second highest median property tax rate in the United States, with 26 points, and ranks 3rd in the cost of property taxes per square foot of residential property. But compared to the average $2,471 in property taxes paid in the United States ($2,471), BOUNTiful is about three to four quarters as big. It also has the third highest proportion of homes with at least one owner (26%) and the third highest proportion of rented homes, despite having a percentage income of 10pc to 20pc.