Recognized nationally as a clean, safe, and affordable urban area, Salt Lake City offers housing options ranging from a growing supply of downtown lofts, condos, townhouses and apartments to foothill estates and mature housing in historic neighborhoods. The housing market in Salt Lake City has experienced unparalleled growth in recent years and continues to remain one of the top appreciating markets nationally.
Average Housing Price Comparison (2007)
|
3 Bedroom Home Price |
2 Bedroom Apartment Rental |
Salt Lake City |
$308,668 |
$797 |
Denver, CO |
$350,433 |
$809 |
Phoenix, AZ |
$318,486 |
$771 |
Reno-Sparks, NV |
$317,300 |
$663 |
San Jose, CA |
$809,845 |
$1,283 |
San Francisco, CA |
$862,527 |
$2,036 |
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2007
Median Owner-Occupied Housing Values (2007)
Salt Lake City |
$229, 030 |
Salt Lake County |
$235, 401 |
Salt Lake City CBSA |
$236, 525 |
Salt Lake, Ogden & Provo CBSA’s: |
$221, 086 |
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2007
Median Sales Price of Existing Single-Family Homes (2005 – 2007) |
2005 |
2006 |
2007 |
% Change |
Salt Lake Metropolitan Area |
$173, 900 |
$203,000 |
$223,000 |
2.5% |
Western U.S. |
$340, 300 |
$350,500 |
$342,300 |
-8.7% |
U.S. |
$219, 000 |
$221,900 |
$217, 800 |
-5.8% |
Source: U.S. Board of Realtors, 2008
Median Sales Price of Existing Condominium Homes (2005 – 2007) |
2005 |
2006 |
2007 |
% Change |
Salt Lake Metropolitan Area |
$130,700 |
$137,600 |
$163, 100 |
8.8% |
Western U.S. |
$283,800 |
$264,700 |
$363,000 |
-2.8% |
U.S. |
$239,900 |
$221,900 |
$226, 400 |
0% |
Source: U.S. Board of Realtors, 2008
|
Average HH Size |
Owner Occupied Housing Units |
Renter |
Median Home Value |
Salt Lake City |
2.46 |
46.2% |
44.8% |
$229,030 |
Salt Lake County |
2.98 |
65.8% |
27.8% |
$235,401 |
Salt Lake City CBSA |
2.98 |
64.7% |
26.5% |
$236,525 |
Salt Lake, Ogden & Provo CBSA’s: |
3.13 |
67% |
25.8% |
$221, 086 |
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecast for 2007 and 2012.
