Thinking about moving to Salt Lake City?
You’ll be in good company. Between 2010 and 2016, more than 7,304 people have moved to Salt Lake City, an increase of 3.9%. SLC is growing into an economic powerhouse specializing in finance and tech. It offers access to excellent recreational activities, from its namesake lake to some of the country’s best ski slopes. With great schools and low crime, Salt Lake City is also family-friendly. And if you’re imagining a city full of stodgy teetotalers, think again: SLC has a thriving nightlife, a red-hot culinary scene, and is turning into a hipster haven.
Salt Lake City is home to 193,744 Salt Lakers. With an area of 111.1 square miles, Salt Lake City has a population density of 1,744 persons per square mile, which makes it less dense than many other cities of comparable size.
The Salt Lake City, UT Metropolitan Statistical Area boasts a population of 1,186,187 people, of which Salt Lake City proper’s population makes up 16%.
One of the drawbacks of all of Salt Lake City’s growth and livability are its relatively high housing prices. The median home value in Salt Lake City is $282,800, 41% above the US median value, according to Zillow. The median price per square foot in Salt Lake City is $234. Over the past 5 years, home values in Salt Lake City have increased by 8%.
Renters in Salt Lake City will also have a hard time finding affordable housing. The median rent in Salt Lake City is $1,464 per month, which is 2% higher than the US median. Over the past year, rental rates in Salt Lake City have increased by 3.4%.
The Salt Lake City economy is on fire. The Salt Lake City metro area’s GDP grew by 24% between 2010 and 2015, from $64 billion in 2010 to $79 billion in 2015, a total increase of $15 billion. The metro area has a per capita GDP of $66,558. According to the US Census Bureau, the median household income in Salt Lake City, UT is $62,192, 24% higher than the national median. Salt Lake City’s unemployment rate is 3.8%.