Best places to buy rental properties in Utah

March 3, 2022
● Written by
Teddy

Utah

Investing in Utah

Utah is one of the winners of the pandemic given its booming population growth. Home to some of the most beautiful national parks and a top destination for skiiers, Utah has done a good job attracting new residents. If you're looking to invest in Utah real estate, take a look at what the Nophin team found.

Statewide vacancy rates

UT Rental Vacancy Rate via Federal Reserve Bank of St. Louis

Salt Lake City, UT

Salt Lake City is the state capital of Utah and known for being the center for the Mormon Church.

  • Population: 199,723
  • Median household income: $63,156
  • Median 1-bedroom monthly rent: $1,253
  • Median listing home price: $579,000

Provo, UT

Provo, also known as the "Garden City" for its orchards and trees, is America's youngest city. According to the US Census Bureau, the median age of the city is 23.3.

  • Population: 115,162
  • Median household income: $50,072
  • Median 1-bedroom monthly rent: $945
  • Median listing home price: $449,900

Ogden, UT

Ogden is located north of Salt Lake City and sits at the foot of the Wasatch Mountains.

  • Population: 87,321
  • Median household income: $55,974
  • Median 1-bedroom monthly rent: $925
  • Median listing home price: $399,000

St. George, UT

St. George is known for its close proximity to Zion National Park and The Grand Canyon.

  • Population: 95,342
  • Median household income: $59,989
  • Median 1-bedroom monthly rent: $1,020
  • Median listing home price: $599,000

Logan, UT

Logan is one of the fastest growing cities in Utah and considered one of the best places to live.

  • Population: 52,778
  • Median household income: $43,056
  • Median 1-bedroom monthly rent: $843
  • Median listing home price: $409,000

Nophin is landlord banking and software for rental properties

With FDIC-insured bank accounts and cards that seamlessly integrate with easy-to-use software, Nophin helps landlords increase returns and automate rental property finances. Check out what we offer on the Nophin homepage!

Methodology

To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.

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Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

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