Best Areas To Buy A Second Home Around Salt Lake City, Utah
Jan 15, 2024
Feb 9, 2024
Owning a second home around Salt Lake City, Utah will give you quick access to the outdoors, world-class skiing, and a vibrant cultural arts scene. The SLC International Airport makes visiting easy, no matter what time of year.
If you're thinking about buying a second home in Utah, here's everything you need to know about Salt Lake City and the surrounding areas.
From real estate trends and average days on market for the most popular neighborhoods, to the best family-friendly communities, and the inside scoop on all the amenities you're looking for, Mountain Luxury explores the best areas to buy a second home around Salt Lake City:
Popular Neighborhoods In Salt Lake City
Around 2100 S 1100 E, Sugar House is known for its historic charm, tree-lined streets, and walkable indie shopping, breweries, galleries, restaurants, and cafes district.
The 110 acre Sugar House Park is the heart of the neighborhood and offers ample green space, jogging paths, and a pond for swimming and fishing. Try one of the famous boozy shakes at Hub and Spoke, Mediterranean street food at Spitz Sugarhouse, or The Dodo Restaurant at Sugar House Park, which has been a community staple since the 80's. There are many independent book stores, boutiques, and music venues.
The area has a lively nightlife with bars like The RUIN, with its creative cocktail bar and wide range of libations, or The Tap Room, with its extensive craft beer selection and live music nights.
You're just 20 minutes from the area's best ski resorts including Solitude and Brighton. The nearby canyons Millcreek & Big Cottonwood are full of hiking and biking trails.
The neighborhood's eclectic mix of homes adds to its character and appeal. You'll find Victorians, craftsman-style, bungalows, Tudor Revivals, and mid-modern homes.
The median listing home price is currently $625K, flat year-over-year. The median price per square foot is $317 and the median home sold price was $515.8K. In November 2023, homes in Sugar House sold for 1.42% below asking price on average and were on the market for 55 days.*
Northeast of downtown Salt Lake City, The Avenues is one of the city's oldest neighborhoods. With views of Salt Lake Valley, Mount Olympus and other surrounding mountains, residents get incredible scenic beauty at every turn and enjoy all the outdoor recreation that nearby Millcreek, Red Butte, and Emigration canyons provide.
Little Cottonwood Canyon, Alta Ski Area, and Snowbird are revered by skiers and snowboarders, and you can't beat the 25 minute drive to world-class resorts.
The area is home to the playgrounds and gardens at Lindsey Garden, the beautiful trails of City Creek Canyon, and many local shops and restaurants. Its walkable streets are popular with young professionals and growing families and it is close to the Utah Museum of Fine Arts and the Natural History Museum of Utah, both on the U of U campus.
Many of the homes in the neighborhood date back to the 19th and early 20th centuries, featuring a variety of architectural styles including Victorian, Federal, and Colonial Revival.
Currently, the median listing home price in The Avenues is $888K, trending up 7.7% year-over-year. The median listing price per square foot was $392, and the median home sold price was $887K. On average a home in this neighborhood sold for 4.53% below asking price and was on the market for 68 days.*
This neighborhood adjoins The Avenues and is one of the most desirable areas in SLC, known for its high-end real estate market, with luxury homes that feature spacious lots, grand entrances, and meticulously landscaped gardens.
Buying a second home in Federal Heights could potentially generate a rental income when not in use, particularly for visitors looking for seclusion and charm but want to enjoy the same proximity to the trails and ski resorts in Little and Big Cottonwood.
Near downtown Salt Lake City and the U of U, its elevated position offers beautiful views of the city and surrounding Wasatch Mountains. And while slightly less walkable, residents can still explore the restaurants, cafes, and shops in the Sugar House and 9th & 9th neighborhoods, as well as downtown.
There are many historic homes in this area and architectural styles include Colonial Revival, Georgian, Tudor Revival, and Mediterranean Revival.
Currently there are few homes for sale in this coveted neighborhood and rentals in this area range from $4.5K to $8.5K per month. When they do pop up, they typically start at upwards of $700K and soar to the multi-millions.*
Best Areas Outside Of Salt Lake City
Just 16 miles north of downtown Salt Lake City, Farmington has experienced robust growth in recent years. Running parallel to the Wasatch Mountains, residents here can easily spend time in Salt Lake City's surrounding canyons and ski resorts, or enjoy the trails of Farmington Canyon. For nature lovers, kayaking, fishing, and bird watching are popular activities at nearby Farmington Bay.
Station Park is an upscale outdoor shopping center with a mix of retail, restaurants, and a theater. At its center, an exuberant fountain feature, green space, and playground create a family-friendly spot to visit with friends.
Lagoon is a major attraction for families and thrill-seekers, featuring rides, roller coasters, a water park, and a campground.
There are many new residential developments including single-family homes, townhomes, and condos as well as luxury communities like Summerwood Estates and Steeplechase.
The median listing home price is $614.5K, trending -9% year-over-year. The median listing home price per square foot was $242. The average days on market is currently 56.
As of November 2023, Farmington had a balanced market and on average sold for approximately the asking price.*
Located at the base of the Cottonwood Canyons that the neighborhood was named after, this laid-back suburban community is ideal for those wanting to be close to Salt Lake City's amenities and international airport but prefer a quieter lifestyle with access to the outdoors.
Four world-class ski resorts — Alta, Brighton, Snowbird, and Solitude are within 20 minutes of the neighborhood, along with the beautiful hiking and biking trails of Mount Olympus. Check out Ferguson Canyon and head to the Timberline Drive trail to access the dozens of rock climbing routes along the canyon walls.
What better way to end a day of adventure than the famous sky-high pile of nachos and cold draft beer from one of the most popular restaurants in the area, Porcupine Pub. Who would guess that right in the suburbs of Salt Lake, an authentic taco joint like Lone Star Taqueria or the unassuming bar The Cotton Bottom — with the best garlic burgers, would be delighting both locals and visitors.
There are single-family homes, townhomes, condos, vacation rental properties, and luxury homes with spacious lots and high-end landscaping in neighborhoods like Cottonwood Estates, Deer Hollow, Brighton Estates, and Willow Creek.
The median listing home price in Cottonwood Heights was $749K in late 2023, trending down -1.8% year-over-year. The median listing home price per square foot was $293.
The median home sold price was $645K. On average, homes in this area sell after 53 days on the market.*
A 25 minute drive from the city will take you to Daybreak. Located in South Jordan, it is part of the Salt Lake City metro area and is one of the largest and most well-known planned communities in the state. It has received national recognition for its focus on sustainable, family-friendly living. Designed to be a self-contained community with residential, commercial, recreational and educational amenities.
Its focus on walkability and green spaces like parks and trails, make it easy to enjoy outdoor activities daily. At the heart of Daybreak is Oquirrh Lake, a 67-acre manmade lake surrounded by beaches and paths. Residents can paddle boarding, boating, fishing, and swimming.
Within 45 minutes you can be at five different world-class ski resorts — Snowbird, Alta, Brighton, Solitude, and Park City Mountain Resort.
You'll find single-family homes, townhomes, condos, apartments, and active adult communities.
In late 2023, the median listing home price was $573.8K, flat year-over-year. The median listing home price per square foot was $228. The median home sold price was $518.5K. On average, homes in Daybreak sell after 63 days on the market.*
At the base of the stunning Wasatch Mountains, discover the wide meandering lanes shaded by old-growth trees and a diverse range of home architectural styles including the tidy post-war ramblers and ranch homes you'll fine sprinkled amongst sprawling custom estates.
Young professionals, growing families, and second home owners alike are drawn to Holladay for its walkability, sense of community, access to the outdoors, and family-friendly amenities.
All biking trails and walking paths through this popular Salt Lake suburb lead to Holladay Village, the town center. It is full of shops, restaurants, and parks. Stop in at the specialty food market, Caputo's for their deli sandwich, and come home with a new cheese to try from their Cheese Cave.
The ever-changing Soho Food Park is a must-visit to experience new flavors in a casual outdoor atmosphere.
You're still near downtown Salt Lake City, and within 40 minutes of world-class skiing at Snowbird, Alta, Brighton, and Solitude and all the trails and routes for summer biking and climbing.
Popular neighborhoods include Holladay Farms, an exclusive, gated community with large estate-style homes. Cottonwood Lane is another luxury neighborhood with custom-built homes on large lots, and Woodland Hills is a prestigious area with large homes, many sit on extensive wooded lots.
Currently, the median listing home price in Holladay is $954.5K, trending up 10.7% year-over-year. The median listing home price per square foot is $335, and the median home sold price was $570.6K. On average, homes in Holladay, UT sell after 70 days on the market.*
Salt Lake City Is One Of The Best Places To Buy A Second Home In Utah
Buy a second home around Salt Lake City, Utah and there will always be something new to explore. Utah has unbeatable access to world-class skiing and Snowbird, Alta, Solitude, and Brighton are all within close proximity to SLC.
The area becomes a hiking, biking, and climbing haven when the canyons transform in the spring through fall.
Downtown Salt Lake City and the charming neighborhoods and surrounding suburbs offer unique options for activities, restaurants, and shopping. Many are walkable and community-centric, promoting an active, balanced lifestyle.
There is an abundance of concerts, festivals, art shows, and lectures that take place throughout the area and at the University of Utah campus.
And wherever you're coming from in the country, it's easy to catch a flight to the Salt Lake City International Airport, making visits a breeze.
In many areas, prices are flat or trending up, signifying a steady and growing demand for property.
After you've considered the true costs of owning a second home, buying a second home around Salt Lake City could prove to be a strong investment, as more people discover the amazing ski resorts and outdoor recreation that Utah is becoming known for.
Ready to find your next vacation rental or second home in this metro, four-season recreation paradise? As experts in our field, Brandi Hammon and the Mountain Luxury Team can help you navigate the best areas to buy a second home around Salt Lake City and the Northern Utah luxury real estate market.
Interested in other areas in Utah outside of Salt Lake City? Explore the best areas to buy a second home around Park City and the best areas to buy a second home around Eden.
* Current real estate trends according to Realtor.com and Mountain Luxury Real Estate.