– Total households in 2021: 856,600 (five-year projected annual change: 1.2%)
– 2020 median home price: $381,000 (5.1% more than 2019)
– Housing Opportunity Index: 58.0 out of 100
– Walk score: 30 out of 100
– Rent as percent of household income: 13.9%
– 2021 total employment: 759,000 (five-year projected annual change: 2.2%)
– Real GDP per capita: $52,225 (five-year projected annual change: 1.5%)
Salt Lake City, Utah, is another city with big potential for real estate investors—and there are a few factors at play. While real estate is a hot commodity in Salt Lake City right now, the overall affordability of the homes in Salt Lake City, coupled with the wide range of neighborhoods and home prices, makes this city a desirable one for buyers in all price ranges. And, while Salt Lake City isn’t one of the most walkable cities in the nation, it does offer a robust network of public transportation—including an extensive bus system, a light rail system, and a commuter rail—which make it easy to get around the city when you need to. There’s also the draw of a number of eclectic neighborhoods in and around Salt Lake City, including a number of up-and-coming areas like Capitol Hill, Central City, Sugar House, and The Avenues, all of which offer quirky atmospheres and amenities to residents. Those factors—coupled with excellent educational options, including tuition-free charter schools, and the close proximity to a wide range of outdoor recreation options like skiing, hiking, fishing, and river adventures—make Salt Lake a desirable city for home buyers, and one for investors to keep an eye on.
