Utah’s real estate market has seen significant growth in recent years, and the town of Highland, nestled in the heart of Utah County, is no exception. Known for its quiet, family friendly neighborhoods and scenic surroundings, Highland has become a desirable location for those seeking suburban living with easy access to urban amenities. However, to determine if Highland offers the best value for potential homeowners and investors, it’s essential to compare it with nearby real estate markets such as Alpine, Lehi, American Fork, and Draper.
1. Highland: Peaceful Luxury
Median Home Price: $950,000 (as of 2023)
Pros:
- Highland is synonymous with luxury, featuring large lots, custom homes, and a peaceful, rural setting.
- With strict zoning laws and a focus on maintaining spacious, residential areas, Highland retains a sense of exclusivity.
- The proximity to tech hubs in Lehi and the Silicon Slopes makes it a convenient commute for professionals.
- Highland is home to top rated schools and abundant outdoor activities, including access to American Fork Canyon
Cons:
- Housing prices in Highland are generally higher compared to neighboring areas, and the market here is competitive.
- Highland’s lack of commercial infrastructure means residents often travel to nearby cities for shopping, dining, and entertainment.
- Property taxes and HOA fees can be higher, adding to the cost of living.
Ideal for: Families and individuals seeking a quiet, high end lifestyle with access to top tier schools and outdoor amenities.
2. Alpine: Upscale Suburban Charm
Median Home Price: $1,100,000
Pros:
- Much like Highland, Alpine offers large, custom homes with sprawling yards and beautiful mountain views.
- It has a tight knit community with high ranking schools, making it appealing for families.
- The area is known for luxury properties and maintains a rural charm despite its rapid development.
Cons:
- Alpine is one of the priciest real estate markets in Utah, with home values continuing to rise.
- Its real estate market is smaller and more exclusive, which may limit options for buyers looking for more affordable or diverse housing options.
Ideal for: High income buyers who prioritize spacious properties, privacy, and luxury living in a serene environment.
3. Lehi: Growth and Opportunity
Median Home Price: $550,000
Pros:
- Lehi is one of Utah’s fastest growing cities, driven by the development of Silicon Slopes, the state’s burgeoning tech hub.
- Housing options are more diverse, ranging from townhomes and condos to single family homes, making it accessible for a broader range of buyers.
- Lehi has abundant shopping, dining, and entertainment, with large developments like Traverse Mountain Outlets and Thanksgiving Point.
Cons:
- The rapid growth of Lehi means some areas experience congestion and ongoing construction, which can be a drawback for those seeking tranquility.
- While Lehi is more affordable, the trade off is smaller lot sizes and less exclusivity compared to Highland or Alpine.
Ideal for: Young professionals, tech workers, and families seeking affordable housing close to job centers with a vibrant community atmosphere.
4. American Fork: Suburban Convenience
Median Home Price: $500,000
Pros:
- American Fork offers a more affordable entry point into the Utah County real estate market, with well established neighborhoods and a variety of home types.
- The city is well connected, with convenient access to both Salt Lake City and Provo via I 15, making it a popular location for commuters.
- American Fork boasts a growing commercial sector, including a large hospital, retail centers, and schools.
Cons:
- While American Fork is more affordable, it lacks the high end amenities and exclusivity of Highland or Alpine.
- Newer developments tend to focus on higher density housing, which may not appeal to buyers seeking more space or luxury.
Ideal for: Buyers looking for affordability and convenience, with access to urban amenities and a shorter commute to major cities.
5. Draper: The Best of Both Worlds
Median Home Price: $700,000
Pros:
- Draper sits on the border of Utah and Salt Lake Counties, offering residents easy access to both Provo and Salt Lake City job markets.
- Draper is known for its family friendly communities, great schools, and outdoor activities, including trails and parks.
- It strikes a balance between luxury and affordability, with a range of housing options that can cater to different budgets.
Cons:
- Draper’s growing population and location along major highways can lead to traffic and congestion.
- While more affordable than Alpine or Highland, some areas of Draper may not offer the same exclusivity or tranquility.
Ideal for: Families and professionals who want the balance of affordability, community, and proximity to both urban and suburban amenities.
Conclusion: Which Offers the Best Value?
- Highland and Alpine are ideal for buyers seeking luxury, privacy, and proximity to nature, but they come with higher price tags. If you’re after a large, custom home in a serene setting, either market will suit your needs.
- Lehi provides excellent value for those working in the tech industry or anyone seeking an affordable yet rapidly developing community.
- American Fork offers the best value for buyers on a budget who still want proximity to the growing Utah County job market and amenities.
- Draper, with its central location and diverse housing options, strikes a balance between price, convenience, and quality of life.
Ultimately, the best value depends on your priorities whether it’s luxury, affordability, convenience, or access to outdoor recreation. Highland, with its exclusivity and picturesque setting, stands out for those seeking a high end lifestyle, but nearby markets offer compelling alternatives depending on your budget and lifestyle needs.