84116, Salt Lake City, UT

The 84116 zip code of Salt Lake City, UT is home to a population of over 158,000 people. The median household income in this zip code is $60,000, and the median home value is $236,000. The average credit score for residents in this zip code is 753.

Home equity has been on the rise in recent years in the 84116 zip code of Salt Lake City, UT. In fact, according to Zillow’s Home Value Index (HVI), the home equity index for this area has increased by 9% from January 2017 to January 2018. This increase can likely be attributed to an improving economy and low interest rates.

In addition to an improving economy and low interest rates, another contributing factor to the increase in home values in the 84116 zip code of Salt Lake City may be due to increasing demand for housing stock overall. According to Trulia’s National Home Price Index (NHPI), prices have increased by 5% nationally over the past year. This increase may also be contributing factors to increased demand for housing stock within the 84116 zip code of Salt Lake City.

Despite these positive trends, there are still some areas within the 84116 zip code of Salt Lake City where home values are lower than average relative to other areas within similar proximity. For example, homes located near major highways or commercial districts may have higher prices than homes located closer to residential neighborhoods or nature preserves. Additionally, homes that are older or not well-maintained may have lower values than newer homes in similar neighborhoods.