Real Estate Investing in Salt Lake City, Utah (84116)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 84116 (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.
- High price-to-rent: Price-to-rent ratio 29.4 — hard to cash-flow at these prices.
What’s happening in Salt Lake City, UT (84116)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 84116 Salt Lake City
Investors eyeing 84116 need to respect the fundamentals at play. Home values of $458K come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $458K asset, 84116 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader UT picture, 84116 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 84116 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.
Strategy in 84116 is an operator game, not a passive one. Looking more closely, entry prices of $458K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Salt Lake City:
Property Strategy for 84116
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $260,636 | $1,310 | 3.6% | +5.2% | $260,636 |
| 2BR | $357,240 | $1,580 | 3.2% | +6.4% | $178,620 |
| 3BR | $438,783 | $2,120 | 3.5% | +6.6% | $146,261 |
| 4BR | $471,183 | $2,410 | 3.7% | +6.4% | $117,796 |
| 5BR | $502,339 | — | — | +6.1% | $100,468 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 84116 Compare?
| Metric | 84116 | Salt Lake City | Salt Lake City, UT | Utah |
|---|---|---|---|---|
| Home Value | $457,684 | $169,092 | N/A | $530,173 |
| 5-Year CAGR | 3.2% | 2.9% | N/A | 7.0% |
| Avg Rent | $1,299 | $1,767 | N/A | - |
| Cap Rate | 2.2% | 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 84116 (Salt Lake City, UT). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 84116 (Salt Lake City, UT)?
~25 seconds · no account needed · your report is anonymous
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 | $457,684 |
| Monthly Rent | $1,299 |
| Price-to-Rent | 29.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 5.4% |
📈 Home Appreciation
| 1-Year | +3.0% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +3.2% ▲ |
| 10-Year CAGR | +8.7% ▲ |
🏠 Rent Trends
| 1-Year | -1.6% ▼ |
| 3-Year CAGR | -0.9% ▼ |
| 5-Year CAGR | +2.4% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). 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 84116
Population: 37,136
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 84116
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
Do landlords face vacancy issues in Salt Lake City, UT?
Rental vacancy in Salt Lake City, UT is elevated. Investors should budget normal turnover but not chronic empty units.
What is the typical rental rate in Salt Lake City, UT?
Investors in Salt Lake City, UT typically see rents near $1,299/mo per month against $458K home values - a solid setup for rental cash flow.
Which investment style suits Salt Lake City, UT?
Investors usually favor careful cash-flow rentals with hands-on management in Salt Lake City, UT. With home values at $458K and rents near $1,299/mo, other strategies can work but produce steady rather than outsized returns.
How deep is the rental pool in Salt Lake City, UT?
The tenant pool in Salt Lake City, UT is solid, supported by local employment and population fundamentals. Rents of $1,299/mo are well-absorbed by the market.
Is Salt Lake City, UT a smart market for rental property?
The 3.0/5 investability rating in Salt Lake City, UT reflects its $458K prices and $1,299/mo rents. Investors generally consider it a solid option within UT.
You know 84116 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 84116 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 84116 ranks in Salt Lake City, UT
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 84116 (Salt Lake City)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 84116 (Salt Lake City, UT).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.