The median rent in Salt Lake City was $1,440 a month in 2024, and the median home was valued at $620,100. That puts the price-to-rent ratio at 35.9: a typical home is worth 35.9 years of rent.
Salt Lake City rent and home values, 2019 to 2024
| 2019 | 2024 | Average change | |
|---|---|---|---|
| Median gross rent | $1,062/mo | $1,440/mo | +6.3%/yr |
| Median home value | $378,300 | $620,100 | +10.4%/yr |
Rent by bedroom count
| Bedrooms | Median gross rent |
|---|---|
| 1 bedroom | $1,296/mo |
| 2 bedrooms | $1,674/mo |
| 3 bedrooms | $1,747/mo |
How to read these numbers
Gross rent is what renters actually pay, including utilities, across every rental in the city, not just the ones on the market. Home value is what owners say their home would sell for. Both are survey medians for 2024, so they trail today's market. The price-to-rent ratio is a quick way to compare cities; a higher ratio means buying is expensive relative to renting.
For where prices have gone since, see the Salt Lake City home value forecast and the Salt Lake City rent forecast.
Sources: U.S. Census Bureau, American Community Survey 1-year estimates (2019, 2023, 2024) forSalt Lake City (Salt Lake City city, Utah); medians are shown only when their margin of error is within 10%. How Predictye calculates this.
Frequently asked questions
How much is rent in Salt Lake City, UT?
The median gross rent, including utilities, was $1,440 a month in 2024, according to the Census Bureau's American Community Survey.
How much are homes worth in Salt Lake City, UT?
The median owner-occupied home was valued at $620,100 in 2024. That's owners' own estimate of their home's value, not a sale price.
What is the price-to-rent ratio in Salt Lake City, UT?
About 35.9: the median home value equals 35.9 years of median rent.