Real Estate Investing in Salt Lake City, Utah (84106)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 84106 (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.
- Elevated vacancy: 8.0% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 27.2 — hard to cash-flow at these prices.
What’s happening in Salt Lake City, UT (84106)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 84106 Salt Lake City
On balance, ZIP 84106 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $604K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $604K asset, 84106 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 84106 sits on the difficult end of the UT spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 84106 includes headwinds that any investor should price in. Income distribution skews lower than Salt Lake City averages, and tenant stability requires active management.
The right play in 84106 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Salt Lake City:
Property Strategy for 84106
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $387,052 | $1,380 | 2.6% | +4.9% | $387,052 |
| 2BR | $421,229 | $1,650 | 2.8% | +6.2% | $210,615 |
| 3BR | $582,507 | $2,200 | 2.7% | +6.5% | $194,169 |
| 4BR | $653,598 | $2,520 | 2.8% | +6.3% | $163,399 |
| 5BR | $764,976 | — | — | +6.6% | $152,995 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 84106 Compare?
| Metric | 84106 | Salt Lake City | Utah |
|---|---|---|---|
| Home Value | $604,380 | $169,092 | $530,173 |
| 5-Year CAGR | 3.2% | 2.9% | 7.0% |
| Avg Rent | $1,855 | $1,767 | - |
| Cap Rate | 2.4% | 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 84106 (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 | $604,380 |
| Monthly Rent | $1,855 |
| Price-to-Rent | 27.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 5.6% |
📈 Home Appreciation
| 1-Year | +5.8% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +3.2% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | +4.1% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +4.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.4%). 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 84106
Population: 33,791
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 84106
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 3,490 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Salt Lake City, UT?
Expect median prices around $604K in Salt Lake City, UT. The market has run at a 0.0% 5-year CAGR, so entry costs have been measured.
What kind of vacancy should I budget for in Salt Lake City, UT?
Salt Lake City, UT sees elevated vacancy, which is reasonable relative to the broader UT rental market.
What is the typical renter like in Salt Lake City, UT?
Working renters make up the core of the Salt Lake City, UT tenant base. The pool is reasonable for investors targeting long-term holds.
Does house hacking work in Salt Lake City, UT?
Salt Lake City, UT is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $604K price point reasonable to enter.
What investment strategy works best in Salt Lake City, UT?
Salt Lake City, UT investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($604K prices, $1,855/mo rents) make it a reasonable choice.
You know 84106 now. You don’t know where it ranks.
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