Capitol Hill, Salt Lake City, UT—84103
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Capitol Hill, Salt Lake City, UT
As of Oct '25, the median home price in Capitol Hill, Salt Lake City, UT is $717,000, with a year-over-year change of -0.4%. This indicates that home prices in Capitol Hill, Salt Lake City, UT are flat. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $717,000 | -0.4% |
| Single Family | $811,000 | -0.2% |
| Condos | $424,000 | -0.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $323,000 | -0.9% |
2 Bed | $514,000 | 0.6% |
3 Bed | $760,000 | -0.3% |
4 Bed | $1,043,000 | 1.1% |
| 5 Bed | $1,438,000 | 1.6% |
% of Housing Stock
Rental Trends — Capitol Hill, Salt Lake City, UT
As of July '25, Rentcast reports the average rent in Capitol Hill, Salt Lake City, UT is $1,540, with a year-over-year rent change of -9.4%. Per bedroom, the median rent as of July '25 in Capitol Hill, Salt Lake City, UT is studios: $1,090, 1-bedrooms: $1,320, 2-bedrooms: $1,810, 3-bedrooms: $2,210, 4-bedrooms: $3,420. The most common rental property sizes in Capitol Hill, Salt Lake City, UT are 1-bedroom and 2-bedroom, accounting for 43.4% and 34.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,540 |
| Studio Rent | $1,060 | $1,090 |
| 1 Bed Rent | $1,250 | $1,320 |
| 2 Bed Rent | $1,620 | $1,810 |
| 3 Bed Rent | $2,750 | $2,210 |
| 4 Bed Rent | $3,100 | $3,420 |
% of Rental Stock
Property Listings — Capitol Hill, Salt Lake City, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Capitol Hill, Salt Lake City, UT is 65. This is a increase of 15.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $830,000 | 14.0% |
Listing Count | 125 | 8.0% |
| Listings as % of Homes | 0.4% | 8.0% |
Days on Market | 65 | 15.0% |
Demographics — Capitol Hill, Salt Lake City, UT
As of the latest ACS Survey released in 2023, Capitol Hill, Salt Lake City, UT has a population of 23,800, which has increased by 8.6% over the past 5 years. Capitol Hill, Salt Lake City, UT is a less popular place for families, as children make up 12.0% of the population. The area has a highly educated workforce, with 66.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,800 | 8.6% |
% Under 18 | 12.0% | -12.4% |
% Seniors | 17.3% | 13.8% |
% WFH | 19.8% | 273.6% |
% w/ College Degree | 66.3% | 5.6% |
As of the latest ACS Survey released in 2023, Capitol Hill, Salt Lake City, UT is a predominantly white area, with 79.4% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Capitol Hill, Salt Lake City, UT is hispanic, making up 9.7% of the population. Foreign-born residents account for 10.8% of the population in Capitol Hill, Salt Lake City, UT, and this percentage has increased by 20.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 79.4% | -5.0% |
% Black | 1.8% | 80.0% |
% Hispanic | 9.7% | 24.4% |
% Asian | 2.8% | -33.3% |
% Foreign Born | 10.8% | 20.0% |
Mortgage and Risk — Capitol Hill, Salt Lake City, UT
According to HUD data as of 2023, there were 360 mortgage originations in Capitol Hill, Salt Lake City, UT, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Capitol Hill, Salt Lake City, UT. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 360 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Capitol Hill, Salt Lake City, UT
As of 2024, the percent of homes in Capitol Hill, Salt Lake City, UT under the Section 8 program is 2.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Capitol Hill, Salt Lake City, UT, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 196 |
Total Units Section 8 | 197 |
% Rentals under Section 8 | 2.7% |
% Occupied Section 8 | 93.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $200 | $1,250 | $1,450 |
| 2 Bedroom | $120 | $1,620 | $1,740 |
| 3 Bedroom | -$410 | $2,750 | $2,340 |
| 4 Bedroom | -$440 | $3,100 | $2,660 |
Affordability — Capitol Hill, Salt Lake City, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.7 |
| Median Home Price | $717,000 |
| Median Household Income | $81,400 |