Salt Lake City, Utah
Salt Lake City is not only the capital of Utah, but it also serves as a cultural, economic, and entertainment epicenter in the American West. Home to a metropolitan area of more than one million people, Salt Lake was founded in 1847 by Brigham Young. Today, the city is dotted with numerous museums, educational institutes, and historical landmarks, all of which contribute to the unique appeal of this one-of-a-kind community.
Of course, Salt Lake is perhaps best known for its connection with the Mormon Church, which has its headquarters here. Temple Square is the focal point of Downtown SLC, with the Mormon temple, tabernacle, and visitor centers located in the area. In addition to the active church buildings located in Salt Lake City, the community is also home to a number of museums documenting the arrival of the first settlers from The Church of Jesus Christ of Latter-day Saints. These include the Church History Museum and the Daughters of Utah Pioneers Museum.
Living in Salt Lake City
Salt Lake City has plenty to offer those who call the area home. From world-class performance venues like the historic Capitol Theatre to the Family History Library, the world's largest genealogical library, SLC is full of treasures to discover.
The city was built on a grid plan, and several informal neighborhoods make up the heart of the metropolis. Some of the better known neighborhoods include Federal Heights, which abuts the University of Utah, Glendale, Rose Park, and Sugar House. Each of Salt Lake's many neighborhoods boast a unique atmosphere and feel of its own.
In spite of its size, Salt Lake continues to attract new residents, due in large part to the high quality of living afforded to locals. Housing is relatively inexpensive in comparison to other large cities and an abundance of economic activity ensures plenty of job opportunities. The many academic institutions operating in Salt Lake City also attract thousands of students to the city each year.
Investing in Salt Lake Rentals
Salt Lake's overall cost of living may be comparatively low, however, the city has a low vacancy rate, under 5% at any given time. This has created a favorable environment for investors eager to capitalize on growth opportunity. In recent years, Salt Lake has seen an influx of minority residents, many of whom have congregated on the city's west side. Homes in this area tend to be more affordable with lower overall rent prices. On the other hand, other areas of SLC have gentrified rapidly over the course of the past decade, causing housing demand to grow and prices to rise. Examples of this phenomenon include the Marmalade District.
Working with a property manager in Salt Lake City is perhaps the smartest option available for investors eager to growth their portfolio and ensure strong returns on their existing investments. At HomeRiver, we've handcrafted a Salt Lake Property management strategy that delivers powerful results for our clients.
We don't follow the same script as all of the other guys—instead, we offer non-binding contracts, simple pricing structures, and an unbeatable satisfaction guarantee. We treat you like a business partner, not just a number in the crowd. Our unparalleled expertise and established track record in the Salt Lake City metropolitan area makes us an ideal partner for your apartment, townhouse, or single-family property portfolio.