Real Estate Investing in South Salt Lake, Utah (84115)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 84115 (South Salt Lake, 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 South Salt Lake, UT (84115)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 84115 South Salt Lake
This part of Salt Lake County is not an easy win. The 84115 ZIP registers softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Meanwhile, the numbers look inviting — $460K purchase price, 0.0% nominal cap — the work to hit that pro forma in 84115 is substantial and deserves full respect.
Meanwhile, 84115 offers a low basis, the region around South Salt Lake has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 84115 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 84115 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 South Salt Lake:
Property Strategy for 84115
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $323,493 | $1,310 | 2.9% | +8.0% | $323,493 |
| 2BR | $401,462 | $1,580 | 2.8% | +6.0% | $200,731 |
| 3BR | $469,807 | $2,120 | 3.2% | +6.5% | $156,602 |
| 4BR | $527,582 | $2,410 | 3.3% | +6.2% | $131,895 |
| 5BR | $574,825 | — | — | +6.6% | $114,965 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 84115 Compare?
| Metric | 84115 | South Salt Lake | Salt Lake City, UT | Utah |
|---|---|---|---|---|
| Home Value | $459,506 | $459,506 | N/A | $530,173 |
| 5-Year CAGR | 2.8% | 2.8% | N/A | 7.0% |
| Avg Rent | $1,593 | $1,593 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 84115 (South Salt Lake, 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 | $459,506 |
| Monthly Rent | $1,593 |
| Price-to-Rent | 24.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 5.5% |
📈 Home Appreciation
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +2.8% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 Rent Trends
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +4.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). 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 84115
Population: 28,411
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 84115
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
Frequently Asked Questions
What approach is best for South Salt Lake, UT real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in South Salt Lake, UT. The numbers - $460K homes against $1,593/mo rents - support that play.
Does house hacking make sense in South Salt Lake, UT?
House hacking in South Salt Lake, UT is reasonable to execute. Prices around $460K and rents of $1,593/mo solid owner-occupant economics.
Is real estate in South Salt Lake, UT a good investment right now?
South Salt Lake, UT scores 3.0/5 for investability. Home values sit at $460K and rents near $1,593/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Where do home prices stand in South Salt Lake, UT?
South Salt Lake, UT home values average about $460K. That price point suits investors targeting rentals with $1,593/mo in monthly income.
How quickly do rentals get leased in South Salt Lake, UT?
South Salt Lake, UT carries elevated vacancy risk. Expect reliable absorption at market rents of $1,593/mo.
You know 84115 now. You don’t know where it ranks.
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How 84115 ranks in Salt Lake City, UT
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