Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$558,850+1.1% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 32% have cut their price
Income needed to buy, per year$121,147About 1.2× the local median income ($99,848): a stretch for a typical household
Days on market63 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+1.6%Zillow expects prices to rise slightly
The typical home in Salt Lake City-Murray, UT is worth $558,850, up 1.1% from a year ago. That is well above what local incomes have historically supported: fair value is about $491,298, so the area is 13.7% overvalued. It is a buyer's market: homes take about 63 days to sell, listings are up 18% from a year ago, 32% of listings have had a price cut. Zillow expects prices to rise about 1.6% over the next year. A household needs about $121,147 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $99,848. Typical rent is $1,644 a month, or $2,507 for a house. In the latest IRS figures, 8,702 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$558,850
Change in 1 year
+1.1%
Overvalued %
+13.7%
Show 7 more
Fair home value
$491,298
Change in 5 years
+12.3%
Zillow forecast, next 12 months
+1.6%
Home value to income
5.6×
Monthly mortgage payment (20% down)
$3,029
Income needed to afford it
$121,147
Property tax rate
0.55%
Rent and investing
Typical rent
$1,644
Typical rent for houses
$2,507
Price-to-rent ratio
28.3×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,584
Gross rental yield
3.53%
Cap rate (estimate)
2.29%
Market activity
Listings vs a year ago
+17.7%
Days on market
63
Listings with a price cut
31.8%
Show 3 more
Homes for sale
4,030
Pending sales per 100 listings
26
Asking price per sq ft
$260
People and jobs
Median household income
$99,848
Population change (1 year)
+0.5%
Unemployment rate
3.8%
Show 4 more
Population
1,308,377
Income adjusted for cost of living
$98,957
Net moves in (IRS)
−8,702
Cost of living (US = 100)
100.9
Schools, risk and environment
School rating (1 to 10)
4.9
FEMA hazard risk score (0 to 100)
95.3
Unhealthy air days a year
15
Show 4 more
Flood risk score
87.9
Wildfire risk score
98.2
Walkability (1 to 20)
12.8
Road, rail and air noise
53 dB
Questions people ask
Is Salt Lake City-Murray, UT overvalued?
Home prices in Salt Lake City-Murray, UT are well above what local incomes have historically supported: fair value is about $491,298, so the area is 13.7% overvalued.
Is Salt Lake City-Murray, UT a buyer's or seller's market?
Salt Lake City-Murray, UT is a buyer's market: homes take about 63 days to sell, listings are up 18% from a year ago, 32% of listings have had a price cut.
Are home prices going down in Salt Lake City-Murray, UT?
Home values in Salt Lake City-Murray, UT are up 1.1% over the last year. Zillow's forecast for the next 12 months is +1.6%.
How much do you need to earn to buy a home in Salt Lake City-Murray, UT?
A household needs about $121,147 a year to afford the typical home in Salt Lake City-Murray, UT at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $99,848.