Downtown, Salt Lake City, UT—84101
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown, Salt Lake City, UT
As of Oct '25, the median home price in Downtown, Salt Lake City, UT is $497,000, with a year-over-year change of 0.3%. This indicates that home prices in Downtown, Salt Lake City, UT are flat. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $497,000 | 0.3% |
| Single Family | $464,000 | 1.3% |
| Condos | $512,000 | -0.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $394,000 | -0.8% |
2 Bed | $526,000 | -0.2% |
3 Bed | $572,000 | 1.2% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Downtown, Salt Lake City, UT
As of July '25, Rentcast reports the average rent in Downtown, Salt Lake City, UT is $1,400, with a year-over-year rent change of -21.8%. Per bedroom, the median rent as of July '25 in Downtown, Salt Lake City, UT is studios: $1,020, 1-bedrooms: $1,570, 2-bedrooms: $1,780. The most common rental property sizes in Downtown, Salt Lake City, UT are 1-bedroom and 2-bedroom, accounting for 47.4% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,320 | $1,400 |
| Studio Rent | $980 | $1,020 |
| 1 Bed Rent | $1,500 | $1,570 |
| 2 Bed Rent | $1,700 | $1,780 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Downtown, Salt Lake City, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown, Salt Lake City, UT is 78. This is a increase of 16.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $539,000 | 11.0% |
Listing Count | 38 | 2.0% |
| Listings as % of Homes | 0.4% | 2.0% |
Days on Market | 78 | 16.0% |
Demographics — Downtown, Salt Lake City, UT
As of the latest ACS Survey released in 2023, Downtown, Salt Lake City, UT has a population of 8,330, which has increased by 74.9% over the past 5 years. Downtown, Salt Lake City, UT is a less popular place for families, as children make up 9.6% of the population. The area has a highly educated workforce, with 51.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 25.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,330 | 74.9% |
% Under 18 | 9.6% | 18.5% |
% Seniors | 12.4% | 22.8% |
% WFH | 25.0% | 594.4% |
% w/ College Degree | 51.3% | 26.7% |
As of the latest ACS Survey released in 2023, Downtown, Salt Lake City, UT is a predominantly white area, with 65.5% of the population identifying as white. The white population has shrunk by 1.9% in the last 5 years. The second most common race or ethnicity in Downtown, Salt Lake City, UT is hispanic, making up 19.0% of the population. Foreign-born residents account for 16.3% of the population in Downtown, Salt Lake City, UT, and this percentage has decreased by 9.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 65.5% | -1.9% |
% Black | 6.5% | 97.0% |
% Hispanic | 19.0% | 36.7% |
% Asian | 6.0% | -44.4% |
% Foreign Born | 16.3% | -9.4% |
Mortgage and Risk — Downtown, Salt Lake City, UT
According to HUD data as of 2023, there were 88 mortgage originations in Downtown, Salt Lake City, UT, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Downtown, Salt Lake City, UT. Investor activity is low, as 6.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 88 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 6.0% |
% Second Loans | 7.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Downtown, Salt Lake City, UT
Downtown, Salt Lake City, UT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 605 |
Total Units Section 8 | 605 |
% Rentals under Section 8 | 17.0% |
% Occupied Section 8 | 93.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$150 | $1,500 | $1,350 |
| 2 Bedroom | -$80 | $1,700 | $1,620 |
| 3 Bedroom | N/A | N/A | $2,180 |
| 4 Bedroom | N/A | N/A | $2,470 |
Affordability — Downtown, Salt Lake City, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.2 |
| Median Home Price | $497,000 |
| Median Household Income | $70,400 |