Lehi City real estate prices show no sign of slowing down, with incredible growth propping up home sales.
On January 21st, 2020 the largest health care organization in the State of Utah announced plans to build a new Primary Children’s Hospital campus in Lehi. Primary Children’s hospital is the foremost hospital in the western states for the dedicated care of specialized care for children, and it has a world renowned reputation.
This announcement will only exacerbate the already skyrocketing demand for housing in Lehi and the surrounding areas. Information from the Governor’s Office of Management and Budget forecasts that the population will increase in Lehi from 47,000 residents in 2010 to an astounding 103,000 residents in 2040, an increase of over 100%.
Housing prices have soared in Lehi and surrounding areas since 2011, with market gains of an average of 91% over 9 years. With this new addition of a five story, 66 bed Lehi campus, the demand for housing for hospital workers who want to live nearby will put increasing upward pressure on Lehi City real estate prices.
Investors who are looking for a solid rental base can take advantage of this new influx of growth, as many who are working in the medical field may be using this new location as a jumping point to other work out of state. Along with medical personnel, support staff such as clerical, janitorial, security and other miscellaneous workers will require nearby housing.
City Lights Real Estate has been poised to help both home buyers and investors looking for solid returns on their investments for over 5 years, and with this new announcement we are excited to offer our sound and experienced advice to those interested in capitalizing on the incredible returns Lehi and the surrounding areas will experience.