Salt Lake County, Utah Housing Market
In Salt Lake County, Utah, the median home value is $525,700, with a median monthly rent of $1,592. This places Salt Lake County at #121 nationally out of 3134 counties by median home value, and #6 within Utah.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,558
- Establishments: 66,996
- BLS QCEW, 2025
Housing Supply
- Single-family: 2,576
- Multi-family: 4,603
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 471,885 (avg $106,745)
- Outflow: 464,793 (avg $108,179)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Salt Lake County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 84117 | 369.2 | +6.39% | 2025 |
| 2 | 84115 | 404.4 | +3.66% | 2025 |
| 3 | 84111 | 418.4 | +1.85% | 2025 |
| 4 | 84121 | 364.5 | +2.58% | 2025 |
| 5 | 84102 | 409.9 | +7.66% | 2025 |
| 6 | 84093 | 347.6 | +5.18% | 2025 |
| 7 | 84107 | 356.0 | +3.37% | 2025 |
| 8 | 84108 | 361.0 | +2.46% | 2025 |
| 9 | 84105 | 404.9 | +3.34% | 2025 |
| 10 | 84119 | 323.4 | -2.01% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
💰 Ready to Finance a Purchase?
See the 2026 FHA and conforming loan limits for Salt Lake County, plus monthly payment estimates at today's mortgage rates.
View Mortgage Guide for Salt Lake County →How Salt Lake County Compares
| Metric | Salt Lake County | Utah Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $525,700 | $418,720 | $227,706 |
| Median Gross Rent | $1,592 | $1,149 | $968 |
| Owner Occupancy Rate | 66.1% | 77.2% | 73.3% |
| Price/Rent Ratio | 27.5 | 29.9 | 18.7 |
Market Analysis
The median home value in Salt Lake County is 25.5% above the Utah state average and 130.9% above the U.S. national average. The median rent of $1,592/month is 38.6% above the state average.
With a price-to-rent ratio of 27.5, Salt Lake County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Salt Lake County has an owner-occupancy rate of 66.1%, compared to 77.2% in Utah and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Pierce County | Washington | $526,600 | $1,806 |
| Essex County | New Jersey | $524,100 | $1,531 |
| Garfield County | Colorado | $527,800 | $1,637 |
| Travis County | Texas | $523,000 | $1,744 |
| Clark County | Washington | $522,900 | $1,748 |
Other Counties in Utah
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Grand County | $538,700 | $1,118 | 70.3% |
| Utah County | $538,700 | $1,541 | 68.3% |
| Washington County | $510,700 | $1,566 | 71.6% |
| Davis County | $505,500 | $1,621 | 77.3% |
| Cache County | $444,400 | $1,213 | 63.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).