Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 24,788, 8,665 total housing units (homes and apartments), and a median house value of $235,327, South Salt Lake real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in South Salt Lake, accounting for 38.07% of the city's housing units. Other types of housing that are prevalent in South Salt Lake include large apartment complexes or high rise apartments ( 34.27%), duplexes, homes converted to apartments or other small apartment buildings ( 19.17%), and a few row houses and other attached homes ( 6.07%).
People in South Salt Lake primarily live in small (one, two or no bedroom) single-family detached homes. South Salt Lake has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in South Salt Lake built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in South Salt Lake built between 1940-1969 ( 36.48%). A lesser amount of the housing stock also hails from before 1939 ( 11.62%). There's also some housing in South Salt Lake built between 2000 and later ( 9.94%).
In the last 10 years, South Salt Lake has experienced some of the highest home appreciation rates of any community in the nation. South Salt Lake real estate appreciated 24.34% over the last ten years, which is an average annual home appreciation rate of 2.20%, putting South Salt Lake in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, South Salt Lake definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in South Salt Lake that despite a nationwide downturn in the housing market, South Salt Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, South Salt Lake appreciation rates continue to be some of the highest in America, at 11.56%, which is higher than appreciation rates in 96.83% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in South Salt Lake. South Salt Lake appreciation rates in the latest quarter were at 2.95%, which equates to an annual appreciation rate of 12.32%.
Importantly, this makes South Salt Lake one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Utah, our data show that South Salt Lake's latest annual appreciation rate is higher than 90% of the other cities and towns in Utah.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within South Salt Lake differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in South Salt Lake - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best South Salt Lake real estate investment or home purchase decisions.
|$991,001 - $1,321,000||0.0|
|$660,001 - $991,000||0.2|
|$529,001 - $660,000||0.3|
|$396,001 - $529,000||7.7|
|$264,001 - $396,000||26.0|
|$132,001 - $264,000||52.2|
|$66,001 - $132,000||5.8|
|$0 - $66,000||7.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF South Salt Lake HOMES|
|2000 or Newer||9.9|
|1970 - 1999||42.0|
|1940 - 1969||36.5|
|1939 or Older||11.6|
|TYPE OF South Salt Lake HOMES|
|Small Apt. Buildings||19.2|
|SIZE OF South Salt Lake HOMES|
|5 or more bedrooms||4.63|