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1031 Exchange Salt Lake City, Utah

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Salt Lake City due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Salt Lake City, Utah is a part of the Salt Lake City, UT metropolitan area, and contains 50 zip codes, including: 84143, 84114, 84106, 84157, 84116, and 84147.

Salt Lake City Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Salt Lake City, UT metropolitan area was $1,025, which is 28.13% lower than 2014 average rent. This represents a compounded annual growth rate of 5.08%. 2019 vacancy in Salt Lake City, UT was 5.00%.

The total population of the city of Salt Lake City, UT has grown 7.59% since 2010. As of 2018, the population was 200,591. The median household income of the Salt Lake City was $56,370, which is 6.51% lower than the national average.

  • metropolitan area Salt Lake City, UT
  • avg rent $1,025
  • rent growth 28.13%
  • vacancy 5.00%
  • median income $56,370
  • population (2018) 200,591
  • population growth 7.59%
  • vs. nat'l avg 6.51%
  • zip codes 84101 84102 84103 84104 84105 84106 84107 84108 84109 84110 84111 84112 84113 84114 84115 84116 84117 84118 84121 84122 84123 84124 84125 84126 84127 84129 84130 84131 84132 84133 84134 84138 84139 84141 84143 84145 84147 84148 84150 84151 84152 84157 84158 84165 84170 84171 84180 84184 84190 84199

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