Real Estate Investing in Millcreek, Utah (84109)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 84109 (Millcreek, 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: 9.5% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 28.4 — hard to cash-flow at these prices.
What’s happening in Millcreek, UT (84109)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 84109 Millcreek
Investors eyeing 84109 need to respect the fundamentals at play. Home values of $821K come alongside slower price movement and elevated management overhead.
Rent of $2,407/mo on a $821K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 84109 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 84109 among UT's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 84109 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 84109 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Millcreek:
Property Strategy for 84109
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $391,822 | $1,630 | 3.0% | +5.9% | $391,822 |
| 2BR | $557,891 | $1,960 | 2.5% | +7.1% | $278,945 |
| 3BR | $711,589 | $2,620 | 2.7% | +7.0% | $237,196 |
| 4BR | $799,262 | $2,990 | 2.7% | +7.0% | $199,816 |
| 5BR | $964,965 | — | — | +7.2% | $192,993 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 84109 Compare?
| Metric | 84109 | Millcreek | Salt Lake City, UT | Utah |
|---|---|---|---|---|
| Home Value | $820,846 | $820,846 | N/A | $530,173 |
| 5-Year CAGR | 3.8% | 3.8% | N/A | 7.0% |
| Avg Rent | $2,407 | $2,407 | N/A | - |
| Cap Rate | 2.3% | 2.3% | - | - |
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 84109 (Millcreek, 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 | $820,846 |
| Monthly Rent | $2,407 |
| Price-to-Rent | 28.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.3% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | -1.8% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.3%). 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 84109
Population: 25,879
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 84109
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
What are home prices like in Millcreek, UT?
Expect median prices around $821K in Millcreek, UT. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
What kind of market is Millcreek, UT for investors?
The 3.0/5 investability rating in Millcreek, UT reflects its $821K prices and $2,407/mo rents. Investors generally consider it a solid option within UT.
Does house hacking make sense in Millcreek, UT?
The house hack math a challenging in Millcreek, UT. Owner-occupant buyers benefit from the $2,407/mo rents and $821K home values.
How landlord-friendly is Millcreek, UT?
For rental operators, Millcreek, UT rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
How strong is tenant demand in Millcreek, UT?
Tenant demand in Millcreek, UT is solid. The local workforce $2,407/mo rents across most rental classes.
You know 84109 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 84109 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 84109 ranks in Salt Lake City, UT
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