Salt Lake City, UT Housing Market
AI-powered market intelligence for the Salt Lake City-Murray, UT metro area.
PropertyIQ Scores
Salt Lake City, UT Market Analysis
Market Overview
Salt Lake City’s PropertyIQ Score of 10 out of 100 positions the market as weak overall. The score’s top drivers include a 12-month home value momentum of 2.43%, a 3-month home value momentum of -1.25%, a median days on market of 57 days, and a 30.3% share of listings with a price cut. The negative 3-month momentum and the relatively high share of price cuts are especially important because they suggest sellers are facing softer demand. The median home value is $560,068, which remains above the state average of $534,582, but the year-over-year home value change of -$3 is effectively flat and does not point to meaningful appreciation.
Against state benchmarks, Salt Lake City has some economic strengths. The median household income is $95,045, above the state average of $91,750, and the unemployment rate is 3.5%, slightly better than the state average of 3.6%. The rent index of $1,641 is also substantially above the state average of $1,405, indicating stronger rental pricing. Even so, the low PropertyIQ Score reflects that these income and rent strengths have not overcome weakening home value momentum and slower selling conditions. The market is best described as weak in current momentum, with some underlying economic stability.
Key Trends
The first trend is cooling home value momentum. The 12-month momentum of 2.43% shows modest growth over the past year, but the 3-month momentum of -1.25% shows a recent pullback. The median home value of $560,068 is above the state average of $534,582, yet the year-over-year change of -$3 supports a picture of flat to slightly declining prices in the near term.
A second trend is softer selling conditions. There are 3,756 homes for sale, and the median days on market is 57 days. At the same time, 30.3% of listings have had a price cut, meaning nearly one in three active listings has reduced its asking price. This combination points to an inventory environment where buyers have more time and more negotiating leverage.
A third trend is rental market outperformance. The rent index in Salt Lake City is $1,641, compared with the state average of $1,405. That differential makes the rental market a relative bright spot, although it sits alongside high home values that may keep some renters from buying.
A fourth trend is an affordability gap despite above-average incomes. The median household income of $95,045 exceeds the state average of $91,750, and the unemployment rate of 3.5% is slightly lower than the state average of 3.6%. However, the median home value of $560,068 is roughly 5.9 times the median household income, which is a high burden for many households and helps explain the slow sales and price cuts.
Who Is This Market For
This market is most appropriate for patient buyers and rental-focused investors. The 57-day median days on market and the 30.3% share of listings with a price cut mean buyers may have room to negotiate, especially compared with a fast-moving market. Rental investors may see relative value because the rent index of $1,641 is well above the state benchmark of $1,405, but they should weigh that against the high median home value of $560,068 and weak near-term price momentum.
First-time buyers are likely to find affordability challenging. The median home value of $560,068 is significantly above the state average of $534,582, and even with a median household income of $95,045, the price-to-income ratio is roughly 5.9. Move-up buyers may be able to find trade-up options, but selling an existing home may take longer, given the median days on market of 57 and the high share of price cuts. Population growth data is not available in this dataset, so it is not possible to evaluate the strength of new household formation or migration-driven demand.
Outlook
The near-term outlook for Salt Lake City leans soft based on the current data. The 3-month home value momentum of -1.25%, the year-over-year home value change of -$3, and the 30.3% share of listings with a price cut all point to continued cooling. With a median days on market of 57, sellers should expect a slower sales process unless inventory levels fall or buyer demand improves. The labor market and rental market provide some balance: the unemployment rate of 3.5% is slightly better than the state average, and the rent index of $1,641 is well above the state benchmark. Still, the PropertyIQ Score of 10 out of 100 indicates limited near-term momentum, and the data does not support an immediate rebound.
AI-generated analysis based on current market data. Last updated September 24, 2026.
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Salt Lake City, UT market data
Salt Lake City, UT Housing Market Overview
Salt Lake City, UT's median home value is $560K, up 2.4% over the past year. Homes here sell in a median 57 days. Its PropertyIQ Score of 10 sits below the state average of 50, marking a market positioned to lag its state over the next three years.
Whether you're considering buying a home, investing in rental property, or weighing entry timing in the Salt Lake City, UT area, the PropertyIQ Score gives you a single, data-first read on relative market strength. It is validated against actual market outcomes from 2001 to 2023, with a positive score-to-return relationship in every validated year across UT and every other US state.
Mountain West markets combine outdoor lifestyle appeal with booming tech and remote-work migration. Cities across Colorado, Utah, Arizona, and Nevada have experienced some of the nation's fastest appreciation, though rising interest rates have introduced new dynamics to these previously red-hot markets. Within the Mountain West, Salt Lake City, UT's PropertyIQ Score of 10 runs below the Mountain West norm.
The PropertyIQ Score for the Salt Lake City, UT market is built from four inputs: Zillow home-value momentum over twelve months, Zillow home-value momentum over three months, the median days listings spend on the market (Realtor.com), and the share of listings with a price cut (Realtor.com). The score runs on a 1 to 99 scale computed across all metro markets nationally and calibrated so 50 equals the state average — a score above 50 means this market is positioned to outperform its state, and a score below 50 means it is set to lag. Momentum here has been positive, with home values up 2.4% over the past year.
Explore the interactive map to see how Salt Lake City, UT compares to neighboring metros, or view the full market dashboard for detailed analytics including time-series trends, score breakdowns, and AI-generated market reports.
Counties in the Salt Lake City, UT metro area
ZIP codes in the Salt Lake City, UT metro area
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Market data through August 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Salt Lake City, UT a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Salt Lake City, UT currently scores 10, a very weak-momentum reading that leaves it positioned to lag its state over the next three years. For buyers, cooling demand usually brings more inventory, longer sale times, and real leverage to negotiate on price. Backing that up, the median home value here is $560K, up 2.4% over the past year. So whether Salt Lake City, UT is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Salt Lake City, UT?
Salt Lake City, UT's PropertyIQ Score is 10, indicating very weak momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 10 places Salt Lake City, UT below its state benchmark.
Are home prices in Salt Lake City, UT rising or falling?
Home prices in Salt Lake City, UT are rising. Over the past year, the median home value increased 2.4%, reaching $560K. Over the latest three months, values slipped 1.3%, a sign near-term demand is softening. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Salt Lake City, UT's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Salt Lake City, UT?
In Salt Lake City, UT, homes sell in a median of 57 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 30% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Salt Lake City, UT market data is refreshed on a monthly cycle, with the latest figures current through August 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.