Central City, Salt Lake City, UT—84102
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Central City, Salt Lake City, UT
Home Price Trends — Central City, Salt Lake City, UT
As of Oct '25, the median home price in Central City, Salt Lake City, UT is $536,000, with a year-over-year change of -0.3%. This indicates that home prices in Central City, Salt Lake City, UT are flat. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $536,000 | -0.3% |
| Single Family | $632,000 | 0.5% |
| Condos | $377,000 | -3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $310,000 | -1.6% |
2 Bed | $446,000 | -1.5% |
3 Bed | $634,000 | 0.2% |
4 Bed | $774,000 | 1.4% |
| 5 Bed | $926,000 | -0.1% |
% of Housing Stock
Rental Trends — Central City, Salt Lake City, UT
As of July '25, Rentcast reports the average rent in Central City, Salt Lake City, UT is $1,510, with a year-over-year rent change of -4.4%. Per bedroom, the median rent as of July '25 in Central City, Salt Lake City, UT is studios: $1,040, 1-bedrooms: $1,270, 2-bedrooms: $1,630, 3-bedrooms: $2,310, 4-bedrooms: $1,640. The most common rental property sizes in Central City, Salt Lake City, UT are 1-bedroom and 2-bedroom, accounting for 44.1% and 36.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,340 | $1,510 |
| Studio Rent | $991 | $1,040 |
| 1 Bed Rent | $1,200 | $1,270 |
| 2 Bed Rent | $1,550 | $1,630 |
| 3 Bed Rent | $2,300 | $2,310 |
| 4 Bed Rent | $650 | $1,640 |
% of Rental Stock
Property Listings — Central City, Salt Lake City, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Central City, Salt Lake City, UT is 69. This is a increase of 9.0% 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 49.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $546,000 | 10.0% |
Listing Count | 98 | 16.0% |
| Listings as % of Homes | 0.4% | 16.0% |
Days on Market | 69 | 9.0% |
Demographics — Central City, Salt Lake City, UT
As of the latest ACS Survey released in 2023, Central City, Salt Lake City, UT has a population of 19,100, which has increased by 5.8% over the past 5 years. Central City, Salt Lake City, UT is a less popular place for families, as children make up 4.9% of the population. The area has a highly educated workforce, with 56.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,100 | 5.8% |
% Under 18 | 4.9% | -30.0% |
% Seniors | 10.5% | 18.0% |
% WFH | 19.0% | 512.9% |
% w/ College Degree | 56.0% | -3.4% |
As of the latest ACS Survey released in 2023, Central City, Salt Lake City, UT is a predominantly white area, with 76.1% of the population identifying as white. The white population has shrunk by 0.5% in the last 5 years. The second most common race or ethnicity in Central City, Salt Lake City, UT is hispanic, making up 9.4% of the population. Foreign-born residents account for 10.9% of the population in Central City, Salt Lake City, UT, and this percentage has decreased by 28.8% 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 | 76.1% | -0.5% |
% Black | 1.8% | 0.0% |
% Hispanic | 9.4% | -6.0% |
% Asian | 6.8% | -2.9% |
% Foreign Born | 10.9% | -28.8% |
Mortgage and Risk — Central City, Salt Lake City, UT
According to HUD data as of 2023, there were 163 mortgage originations in Central City, Salt Lake City, UT, of which 93.0% 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 Central City, Salt Lake City, UT. Investor activity is low, as 7.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 163 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 7.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Central City, Salt Lake City, UT
As of 2024, the percent of homes in Central City, Salt Lake City, UT under the Section 8 program is 4.1%. 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. In Central City, Salt Lake City, UT, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 400 |
Total Units Section 8 | 336 |
% Rentals under Section 8 | 4.1% |
% Occupied Section 8 | 94.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $230 | $1,200 | $1,430 |
| 2 Bedroom | $170 | $1,550 | $1,720 |
| 3 Bedroom | $10 | $2,300 | $2,310 |
| 4 Bedroom | $1,980 | $650 | $2,630 |
Affordability — Central City, Salt Lake City, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 10.5 |
| Median Home Price | $536,000 |
| Median Household Income | $50,000 |