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The most expensive neighborhoods to live in SLC Salt Lake City

(STACKER) — After home prices soared a record 16.9% nationally in 2021, the market encountered another startling statistic in April 2022: 11 U.S. subways now have a median price of sale of homes over $500,000. The average sale price of half a million dollars comes from a OJO Labs survey March home sales. Nationally, the median selling price of a home reached $392,750 in mid-April 2022.

In historically wealthy cities and those with more modest house prices, the trajectory is the same: prices continue to rise even as mortgage rates rise. The causes of the price spike are reflected across the country. A long-term housing shortage that began after the Great Recession has been exacerbated by supply chain disruptions that have made it more difficult to source building materials, affecting virtually all housing markets. Another factor driving prices higher is the surge of investors entering the market. In many areas, including Charlotte, North Carolina, investment firms buy huge shares of single-family homes.

In smaller cities and towns, the traditionally weaker population has faced a surge of households moving away from big cities during the coronavirus pandemic, increasing competition for housing. Historically low mortgage rates were another reason for the explosion in the number of buyers, although rising rates do not seem to do much to slow the bidding wars in many metropolises.

Real estate platform ZeroDown analyzed sound real estate listing data to determine the most expensive neighborhood in Salt Lake City, based on homes sold between March 18, 2022 and April 18, 2022. Neighborhoods are ranked by median home price per square foot.

Read on to see the most expensive neighborhoods in your city or discover the national history that features neighborhoods in 20 metros here.

#ten. Downtown
– Median home price: $629,703 ($431 per square foot)
– Median rent: $1,028
– Population: 1,813
– Walk Score: 89
– Bike Score: not available
– Transit score: 70

#9. Rock H
– Median home price: $917,130 ($438 per square foot)
– Median rent: $1,129
– Population: 757
– Walk score: 2
– Bike Score: not available
– Transit score: 26

#8. Middle East Avenues
– Median home price: $850,011 ($457 per square foot)
– Median rent: $948
– Population: 1,306
– Walk score: 76
– Bike score: 72
– Transit score: 47

#seven. Wilford
– Median home price: $722,884 ($467 per square foot)
– Median rent: $1,245
– Population: 1,679
– Walk score: 56
– Bike score: 55
– Transit score: 32

#6. eastern freedom
– Median home price: $1,038,205 ($467 per square foot)
– Median rent: $1,046
– Population: 4,166
– Walk score: 81
– Bike Score: not available
– Transit score: 46

#5. Glendale
– Median home price: $500,320 ($475 per square foot)
– Median rent: $1,230
– Population: 16,052
– Walk score: 12
– Bike score: 36
– Transit score: 23

#4. sugar shack park
– Median home price: $834,847 ($477 per square foot)
– Median rent: $1,367
– Population: 1,785
– Walk score: 33
– Bike score: 63
– Transit score: 38

#3. Rio Grande
– Median home price: $1,059,178 ($479 per square foot)
– Median rent: $1,096
– Population: 2,311
– Walk Score: 85
– Bike score: 99
– Transit Score: 67

#2. westminster
– Median home price: $580,128 ($502 per square foot)
– Median rent: $1,117
– Population: 4,379
– Walk Score: 85
– Bike score: 85
– Transit score: 51

#1. Eastern Avenues
– Median home price: $1,199,007 ($674 per square foot)
– Median rent: $905
– Population: 1,176
– Walk Score: 65
– Bike Score: not available
– Transit score: 50

Mary Cashion

The author Mary Cashion