84760, Paragonah, UT

The 84760 zip code of Paragonah, UT is located in the southwestern corner of Utah County and includes the small town of Paragonah. The population of this zip code was 2,856 as of the 2010 census. The median household income in this zip code was $50,924, which is significantly higher than the statewide median household income of $53,482. This high median household income likely reflects the presence of several wealthy families who reside in this area.

Home prices in the 84760 zip code have been increasing at a much faster rate than home prices statewide over the past few years. As of March 2016, the average home price in this zip code was $269,000, which is more than double the statewide average home price of $130,000. In addition to being much higher than statewide averages, home prices in this zip code have also been increasing faster than home prices in most other Utah counties over the past few years. This rapid increase in home prices may be due to a number of factors including increased demand from both buyers and sellers (due to strong economic growth), low interest rates (which make borrowing money for homes more affordable), and limited supply (due to restrictive zoning laws).

Despite these positive trends, there are some potential risks associated with high home prices in Paragonah. For example, if interest rates rise or if there are any unforeseen economic setbacks that reduce demand for homes or increase costs associated with purchasing a home (such as repairs needed after an earthquake), then housing values could decline rapidly. Additionally, if too many people try to buy or sell homes at once (due to strong economic conditions or because they believe that prices will continue to rise), then there could be significant bidding wars and elevated transaction costs – both of which would likely dampen housing market activity overall.