Herriman, Utah Information
Located in far southwestern Salt Lake County, the master planned community of Herriman, UT lies immediately west of Riverton. South Jordan and Bluffdale also adjoin this rapidly growing enclave of 20.3 square miles. In 2014, an estimated 28,556 people resided here, the majority of them living in urban areas.
Evenly split between men and women, the population remains predominantly young, with a median age of only 22.3 years in 2014. The town appeals to many growing families. However, residents expend roughly half of the U.S. national average per student on education.(3) The town offers five public schools and one charter school.
The vast majority of people in Herriman identify themselves as White (89.6%), followed by Hispanic (6.2%), with smaller percentages of mixed-race, Asian, Black, Native American and Polynesian residents. The town ranks in the bottom quarter of U. S. cities at risk for violent crime, and among the bottom 30% at risk of property crimes; this community offers a comparatively crime-free environment.
As a master-planned community, the town furnishes a carefully designed downtown area and many green spaces. Residents enjoy ready access to shopping, dining, entertainment, sporting and cultural events in the nearby cities of Salt Lake City and Sandy. Just a short drive to the south, Utah Lake offers a variety of outdoor recreational opportunities, including boating, water skiing, camping, fishing and picnicking. People living in this community can also visit winter ski resorts in the nearby Wasatch Mountains.
Over 97% of residents in Herriman are over the age of 25 and hold at least a high school degree, with almost 30% also possessing a college degree. Nearly 10% have earned professional or graduate degrees, also. Unemployment in September, 2015 stood at just 3.1%, below Utah’s 3.3% rate at the time, and considerably below the current U.S. national average.
Perhaps due to the boom in housing in the town, construction trades and manufacturing still predominate as sources of employment. Many residents work in managerial and sales positions. The proximity of the town to several nearby communities in Salt Lake County enables local to work either locally, or to commute elsewhere for employment purposes.
Mormon settlers established a farming outpost here in 1849. For many years, four families lived on the site, working mainly in agricultural pursuits. The community only incorporated in 1999, becoming a city for the first time on April 19, 2001. Since that date, the area’s population has expanded dramatically in size.
The Sorenson Companies through a development firm, Rosecrest, worked to encourage the establishment of planned residential neighborhoods in the town. Since the turn of the century, the community has grown at a very rapid pace, especially during the decade between 2000 and 2010.(1) Many of the houses in the local area date from a comparatively recent period of time, due to the significant growth during this century.
A wildfire in 2010, the Camp Williams Fire, forced the temporary evacuation of many homes and burned several structures. However, the blaze did not slow the overall progress of development. Between 2010 and 2015, the community enjoyed an estimated 41.5% growth. Wildfires remain a potential environmental hazard in this section of the Beehive State, especially during years with comparatively dry weather conditions.
In 2015, residents of the town earned a per capita income of $23,729, with households averaging nearly $20,000 more than the median income in the state. Real estate has enjoyed impressive appreciation here in recent years. Although the median price of a home or condo stood at $179,100 at the turn of the century, by 2015 that figure had risen to an estimated $321,027. In mid-February, 2017 the www.zillow.com website listed the average value of a home in this town as $299,700.
Prices in the community fall across a broad spectrum, from a median price of $66,063 for a mobile home to a median price of $309,853 for a standalone house. Landlords reportedly collected a median rent of $1,194 per month during 2015. Some two-bedroom one-bath apartment units rented for $1,100 per month. In general, detached housing units command higher rental prices than apartments or mobile homes. The location, the size and condition of the property, and available amenities may all enter into individual property valuations.
Today many landlords gain advantages by obtaining the assistance of an experienced, well-qualified local property management firm. If you’d welcome a comprehensive market analysis of your rental property in Herriman or its environs, simply give us a call!
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