Thinking about moving to Salt Lake City?
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- Salt Lake City At-a-glance
- What it’s like to live in Salt Lake City
- Economy and job outlook in Salt Lake City
- Real estate in Salt Lake City
- The top neighborhoods in Salt Lake City
- How to get around in Salt Lake City
- School and education snapshot
- Weather and climate in Salt Lake City
- 10 can’t miss things to do in Salt Lake City
Salt Lake City At-A-Glance
You’ll be in good company. Data from December 2022 shows Utah had the largest one-year jump in population in the post-World War II era. More than 61,000 people moved to the Beehive State compared to the year before, pushing the total population above 3.4 million.
And a large majority of them are moving to Salt Lake City, an area of the state that boasts some of the best skiing, hiking, fishing, and mountain biking in the country. No wonder it’s an outdoor enthusiast’s dream.
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.
Increasing Diversity, Booming Cultural Scene and Gorgeous Backdrops
If the first thing that comes to mind when you think of Salt Lake City is the Mormon church, you are missing out on an entirely different outlook. In fact, Salt Lake City is also more than just great housing and world-class ski resorts.
Increasing diversity, a booming cultural scene and gorgeous backdrops flanked by beautiful blue peeks, yes, there’s an abundance of reasons why Salt Lake City is a fast-growing metropolitan area. Salt Lake City has reasonably comfortable temperatures for the majority of the year and is paradise for anyone who enjoys outdoor recreation. In fact, it’s been ranked the 20th best city in the U.S. for access to outdoor activities.
Need more reasons to consider Salt Lake City? How about a growing food scene, a lively downtown, friendly neighbors, and a true sense of community. The Honest Local says it best, “breathtaking mountain backdrops, great food, incredible nature, and world-class outdoor recreation opportunities are just the start.”
With endless opportunities to explore for young professionals and families alike, a booming job market, incredible housing options, and weather you can appreciate no matter the season, Salt Lake City is an especially good place to call home.
Salt Lake City Earns the Nickname “Silicon Slopes”
Unlike many other cities, Utah and Salt Lake City specifically had a reason to feel hopeful during the Covid-19 pandemic. It was one of the only areas that came out of that time frame relatively unscathed. For one, it has a diversified economy. In 2020, the Hachman Index of economic diversity put Utah at No. 1 in the nation. And small businesses were some of the least affected in the nation. In multiple factors, Utah was one of the nation’s best performers. The Salt Lake Tribune reports, “the Utah economy has been roaring, fortified by a strong social fabric.”
You’ll find several thriving industries in SLC that support the growth and development of the area, including information technology and gaming, outdoor products, life sciences, healthcare, finance, logistics, manufacturing, and distribution. Unbelievable job opportunities are attracting huge swaths of young people, as well as the growth of the tech industry. It has become such a major player of SLC’s job market that it has earned the nickname “Silicon Slopes.”
- Unemployment rate: 2.6 percent (as of February 2023)
- Average weekly wages for all industries: $1,354 (as of October 2022)
Expect Record High Housing Costs in Salt Lake City
With a large influx of population, the question is whether that has affected Salt Lake City’s housing costs? The answer is yes and no. According to Redfin, the median home value in Salt Lake City is $535K, which is a whopping 35 percent higher than the national average. And overall the cost of living in Salt Lake City is 8 percent higher than the national average.
But there’s good news on the horizon. The housing market appears to be cooling for the time being. The median sale price is down 9 percent since last year. And the median sale price per square foot is $342, which is also down 7 percent compared to the previous year.
Because millennials make up a majority of the Salt Lake City population (52 percent is 35 and under), finding affordable places to rent can be uber competitive, too. Which also means prices have skyrocketed in recent years. You’ll pay an average of between $1,288 and $1,712 for an apartment in Salt Lake City.