Real Estate Investing in Salt Lake City, Utah (84104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 84104 (Salt Lake City, UT)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Salt Lake City, UT (84104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 84104 Salt Lake City
ZIP 84104 in Salt Lake City, UT carries a notable set of headwinds. Home values near $415K and rents of $1,524/mo sit inside a market where underwriting has to be tight.
The 84104 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Stepping back, 84104 offers a low basis, the region around Salt Lake City has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Demographically, 84104 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Salt Lake City:
Property Strategy for 84104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $310,567 | $1,310 | 3.0% | +6.1% | $310,567 |
| 2BR | $357,053 | $1,580 | 3.2% | +6.9% | $178,527 |
| 3BR | $409,836 | $2,120 | 3.7% | +6.8% | $136,612 |
| 4BR | $441,175 | $2,410 | 3.9% | +6.8% | $110,294 |
| 5BR | $476,231 | — | — | +6.5% | $95,246 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 84104 Compare?
| Metric | 84104 | Salt Lake City | Salt Lake City, UT | Utah |
|---|---|---|---|---|
| Home Value | $414,957 | $169,092 | N/A | $530,173 |
| 5-Year CAGR | 3.7% | 2.9% | N/A | 7.0% |
| Avg Rent | $1,524 | $1,767 | N/A | - |
| Cap Rate | 2.9% | 2.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 84104 (Salt Lake City, UT). Anonymous, moderated, never written by AI.
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Property managers serving Salt Lake County
Manage rentals here? List your business →ICO Property Management constructs and oversees luxury Utah apartment communities, crafting enriching lifestyle experiences for residents across 17 locations along the Wasatch Front. summary from their website
Intermountain Association Management (IAMHOA) is a Utah HOA management company providing professional services statewide. summary from their website
Nxt Property Management is Utah's premier third-party multifamily management company. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $414,957 |
| Monthly Rent | $1,524 |
| Price-to-Rent | 22.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 6.5% |
📈 Home Appreciation
| 1-Year | +3.8% ▲ |
| 3-Year CAGR | +2.5% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +9.4% ▲ |
🏠 Rent Trends
| 1-Year | -16.7% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 84104
Population: 24,057
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 84104
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 6,048 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What approach is best for Salt Lake City, UT real estate?
The best-fit strategy in Salt Lake City, UT is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Do landlords face vacancy issues in Salt Lake City, UT?
Expect elevated vacancy in Salt Lake City, UT. Rents at $1,524/mo are absorbed by the tenant base without meaningful lag.
What is the tenant pool like in Salt Lake City, UT?
Expect a solid tenant pool in Salt Lake City, UT. The rental market absorbs $1,524/mo rents without meaningful friction.
Does house hacking work in Salt Lake City, UT?
House hacking in Salt Lake City, UT is reasonable to execute. Prices around $415K and rents of $1,524/mo solid owner-occupant economics.
What do rentals go for in Salt Lake City, UT?
Average rent in Salt Lake City, UT is approximately $1,524/mo per month. Against $415K home values that yields a reasonable rent-to-price ratio.
You know 84104 now. You don’t know where it ranks.
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How 84104 ranks in Salt Lake City, UT
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