Vineyard is now a 'boomtown' with the fastest growth rate in the nation

Northern Utah County’s Vineyard, a booming suburban community situated between I-15 and Utah Lake, is the fastestgrowing city in the U.S., according to data released by national self-storage website StorageCafe. With growth in both population and increase in housing units exceeding 7,000 percent over the past 10 years, Vineyard is designated a "boomtown" and its growth easily outranks traditional growth hotspot cities in places like Texas and Florida.

StorageCafe said that much of Utah’s growth has been concentrated in Utah County as post-pandemic residential patterns persist, driven by remote workers seeking low-density environments, millennials prioritizing better schools and spacious living and individuals priced out of expensive cities turning to exurban areas over urban cores.

Meanwhile, Salt Lake County’s Herriman ranked 17th nationally for growth. The housing inventory there has increased 165 percent over the past decade, with the apartment sector figuratively booming. It grew from 701 units in 2013 to 2,207 units in 2022. The population in Herriman has more than doubled from 23,400 in 2013 to 55,300 in 2022.

But growth comes at a cost. Over the past decade, home prices in Herriman have soared by 72 percent, with the median home price climbing to $486,200, while the median income grew by 53 percent.

By contrast, Salt Lake City has seen a more modest expansion with a 7 percent population gain and a 16 percent increase in housing inventory, the StorageCafe report said. Home prices spiked by 94 percent in the capital city, outpacing incomes, which rose by 58 percent.

Bluffdale has also grown significantly, doubling its population while expanding its housing stock by 143 percent over the past 10 years. Home prices surged by 49 percent while median incomes rose by 34 percent.

The full report can be accessed at www.soragecafe.com.