Is it a Good Time to Invest in Real Estate in Salt Lake City?

Written by Posted On Tuesday, 10 April 2018 07:57

The U.S. real estate market has made a full recovery from the last decade's economic downturn. Housing prices across the country continue to stabilize, and commercial properties in many states are finding new owners and tenants. The time has never been better to invest in real estate.

Out of all of the markets in which to invest, Salt Lake City's has proven to be one of the most lucrative. By all indications, now is the perfect time to invest in Salt Lake City real estate if you are serious about making money and building a stable and profitable investment portfolio.

Real Estate Investing and the Local Job Market

Salt Lake City enjoys one of the healthiest job markets in the country. Dozens of new companies flock to the city each year, all of which are on the lookout for new talent to hire right away.

The promise of jobs also draws thousands of newcomers to Salt Lake City each year. It is one of the most popular cities for young professionals to move to in the hopes of buying or renting a house and raising a family.

Given the influx of newcomers to the area each year, it makes sense that the demand for housing and commercial properties has risen significantly. Businesses need land and buildings on which to build their companies. Likewise, workers who come to take the new jobs in the city need houses, apartments, and other types of residential housing to lease or purchase.

With that, you could reap big dividends by investing in either commercial or residential real estate in Salt Lake City. You also could enjoy a steady stream of renters or buyers and avoid having to pay for a property that sits vacant for months or years at a time. 

Buyers Market

Salt Lake City landed in the global spotlight when it hosted the 2002 Winter Olympics. People from across the country and world got a glance of the city's pristine appearance, low crime rate, and amazing scenery.

In little time, investors from across the U.S. began researching about investment opportunities in Salt Lake City. In fact, people from California, Washington, Nevada, and other nearby states were some of the first out-of-state investors to take advantage of Salt Lake City's growing real estate market.

Now that it has completely stabilized, the housing market continues to attract investors from across the country. It is one of the most lucrative albeit competitive markets in the U.S. 

Statistics show that the median price for housing in Salt Lake City is a little more than $360,000. Prices are expected to grow by 4.5 percent in the next few years while sales growth is predicted to increase by 4.6 percent. Moreover, Salt Lake City property investors right now can get between 20 to 25 percent above the asking price for their properties. 

Even with properties selling as much as 25 percent above the asking price, buyers enjoy relatively low property taxes compared to other real estate markets. The affordable tax rate combined with lucrative yet stable housing prices make Salt Lake City one of the best cities to buy or invest in housing today.

Salt Lake City Culture and Lifestyle

Salt Lake City is one of the fastest growing countries in the U.S. Even so, it has a culture and a way of life that mimics living in a small town. Newcomers to the city notice right away that much of the city's culture is family-friendly and laid back. It boasts dozens of parks, hiking trails, and other outdoor locales that make it perfect for people who want to enjoy the scenery and fresh air without the worry of pollution and crowding.

People who move to Salt Lake City appreciate that it has a low crime rate and that they are not bothered a great deal with hectic traffic and noise. This appeal factor makes the city better to live in that other cities like Seattle and Austin with comparable real estate markets. People who are keen to live a wholesome and relaxed lifestyle may find exactly what they are looking for when they move to Salt Lake City.

The culture and lifestyle make it one of the best cities in which to invest in real estate. As more people flock to the city to take advantage of its family-oriented atmosphere, they will snatch up available housing and business properties. When it comes to buying and selling real estate Utah investors should enjoy quick turnarounds and handsome profits.

Thanks to a booming economy and wholesome way of life, Salt Lake City continues to draw thousands of newcomers from across the country each year. As more people flock to this town, the time has never been better for investing in the Salt Lake City housing and commercial real estate market. 


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James Stevenson

Hi, My name is James and I've been involved in the property and real estate industry for 10 years now. I hope people will like to read about my thoughts and experiences in the industry and please contact me if you want to discuss my articles further!

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