Real Estate Investing in Payson, Utah (84651)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 84651 (Payson, UT)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 26.8 — hard to cash-flow at these prices.
What’s happening in Payson, UT (84651)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 84651 Payson
This part of Utah County is not an easy win. The 84651 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 84651 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within UT, ZIP 84651 trails on several market indicators that neighboring Utah County submarkets outperform. The gap is real and solid enough to shape underwriting.
In practical terms, 29,502 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
New investors are better served looking at Payson's stable or hybrid ZIPs before stepping into 84651. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Payson:
Property Strategy for 84651
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $380,397 | $1,500 | 2.8% | +6.7% | $190,199 |
| 3BR | $479,224 | $2,090 | 3.1% | +7.3% | $159,741 |
| 4BR | $555,540 | $2,520 | 3.3% | +7.4% | $138,885 |
| 5BR | $604,160 | — | — | +7.6% | $120,832 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 84651 Compare?
| Metric | 84651 | Payson | Provo-Orem, UT | Utah |
|---|---|---|---|---|
| Home Value | $526,166 | $526,166 | N/A | $530,173 |
| 5-Year CAGR | 3.7% | 3.7% | N/A | 7.0% |
| Avg Rent | $1,637 | $1,637 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 84651 (Payson, UT). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 84651 (Payson, UT)?
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Property managers serving Utah County
Manage rentals here? List your business →ICO Property Management constructs and oversees luxury Utah apartment communities, crafting enriching lifestyle experiences for residents across 17 locations along the Wasatch Front. summary from their website
Property Management Inc. offers residential, association, short-term, commercial, and multifamily property management services. summary from their website
Incline Property Management provides reliable property care for homeowners and investors, handling tenant screening, rent collection, maintenance, and delinquency resolution. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $526,166 |
| Monthly Rent | $1,637 |
| Price-to-Rent | 26.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 6.1% |
📈 Home Appreciation
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 84651
Population: 29,502
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 84651
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Where do home prices stand in Payson, UT?
Payson, UT home values average about $526K. That price point suits investors targeting rentals with $1,637/mo in monthly income.
What is the typical renter like in Payson, UT?
Tenant quality in Payson, UT ranks as solid. Landlords generally report steady occupancy at market rents of $1,637/mo.
Which investment style suits Payson, UT?
Investors usually favor careful cash-flow rentals with hands-on management in Payson, UT. With home values at $526K and rents near $1,637/mo, other strategies can work but produce consistent rather than outsized returns.
Can I live-in-and-rent in Payson, UT?
House hacking in Payson, UT is a challenging. With home values around $526K and rents at $1,637/mo, owner-occupants can offset a meaningful share of PITI.
Is UT a landlord-friendly state?
Landlord-friendliness in Payson, UT is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 84651 now. You don’t know where it ranks.
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How 84651 ranks in Provo-Orem, UT
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