South Salt Lake, UT—84115
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Salt Lake, UT
As of Oct '25, the median home price in South Salt Lake, UT is $447,000, with a year-over-year change of 2.1%. This indicates that home prices in South Salt Lake, UT are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $447,000 | 2.1% |
| Single Family | $455,000 | 2.0% |
| Condos | $348,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $323,000 | 2.9% |
2 Bed | $401,000 | 2.0% |
3 Bed | $470,000 | 2.2% |
4 Bed | $528,000 | 1.5% |
| 5 Bed | $575,000 | 2.9% |
% of Housing Stock
Rental Trends — South Salt Lake, UT
As of July '25, Rentcast reports the average rent in South Salt Lake, UT is $1,620, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in South Salt Lake, UT is studios: $1,080, 1-bedrooms: $1,160, 2-bedrooms: $1,520, 3-bedrooms: $2,260, 4-bedrooms: $3,190. The most common rental property sizes in South Salt Lake, UT are 1-bedroom and 2-bedroom, accounting for 37.4% and 37.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,390 | $1,620 |
| Studio Rent | $1,050 | $1,080 |
| 1 Bed Rent | $1,100 | $1,160 |
| 2 Bed Rent | $1,490 | $1,520 |
| 3 Bed Rent | $2,100 | $2,260 |
| 4 Bed Rent | $3,000 | $3,190 |
% of Rental Stock
Property Listings — South Salt Lake, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in South Salt Lake, UT is 68. This is a increase of 4.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $500,000 | -5.0% |
Listing Count | 79 | 0.0% |
| Listings as % of Homes | 0.4% | 0.0% |
Days on Market | 68 | 4.0% |
Demographics — South Salt Lake, UT
As of the latest ACS Survey released in 2023, South Salt Lake, UT has a population of 28,400, which has increased by 5.4% over the past 5 years. South Salt Lake, UT is a moderately popular place for families, as children make up 18.8% of the population. The area has a moderately educated workforce, with 33.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,400 | 5.4% |
% Under 18 | 18.8% | -19.0% |
% Seniors | 11.4% | 31.0% |
% WFH | 15.1% | 243.2% |
% w/ College Degree | 33.4% | 33.6% |
As of the latest ACS Survey released in 2023, South Salt Lake, UT is a predominantly white area, with 57.3% of the population identifying as white. The white population has shrunk by 0.2% in the last 5 years. The second most common race or ethnicity in South Salt Lake, UT is hispanic, making up 25.9% of the population. Foreign-born residents account for 19.7% of the population in South Salt Lake, UT, and this percentage has decreased by 21.2% 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 | 57.3% | -0.2% |
% Black | 3.2% | -63.6% |
% Hispanic | 25.9% | 36.3% |
% Asian | 8.1% | -15.6% |
% Foreign Born | 19.7% | -21.2% |
Mortgage and Risk — South Salt Lake, UT
According to HUD data as of 2023, there were 416 mortgage originations in South Salt Lake, UT, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in South Salt Lake, 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 | 416 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — South Salt Lake, UT
As of 2024, the percent of homes in South Salt Lake, UT under the Section 8 program is 14.1%. 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 units appear to be good home sizes to consider for Section 8 housing in South Salt Lake, UT, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,085 |
Total Units Section 8 | 1,046 |
% Rentals under Section 8 | 14.1% |
% Occupied Section 8 | 92.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $1,100 | $1,220 |
| 2 Bedroom | -$20 | $1,490 | $1,470 |
| 3 Bedroom | -$130 | $2,100 | $1,970 |
| 4 Bedroom | -$750 | $3,000 | $2,250 |
Affordability — South Salt Lake, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.1 |
| Median Home Price | $447,000 |
| Median Household Income | $61,500 |