84312, Garland, UT

Garland, UT is located in the Salt Lake City metropolitan area. The zip code 84312 has a population of approximately 107,000 people. The median household income in the zip code is $75,000. Home prices in the zip code have increased significantly over the past several years. In January of 2016, the median home price was $269,500. As of September 2017, the median home price was $314,900.

There are a number of factors that have contributed to this increase in home prices in Garland. First and foremost is the strong economy that has been present throughout much of Utah and the United States as a whole for the past few years. Additionally, there has been an increase in demand for housing due to an influx of new residents into the area and an overall shortage of available housing stock. Finally, there has been a significant increase in interest rates over this same time period which has made purchasing a home more expensive than it was previously.

Despite these positive trends, there are also some potential risks associated with high home prices in Garland. For one thing, if economic conditions change or if interest rates rise again then it could become more difficult for homeowners to sell their homes at current prices. Additionally, if there is another major housing market crash like we saw during the Great Recession then many homeowners who bought homes at inflated prices may find themselves struggling to repay their mortgages or lose their homes altogether. However, overall it appears that home values continue to rise steadily in Garland and as long as those trends continue it would seem likely that homeowners will be able to maintain their equity and enjoy continued appreciation on their homes over time