Salt Lake City Market

[Brittney Stewart]

My husband and I currently live in the Houston area and own a short term rental in Galveston. We have an opportunity to move to Salt Lake City and would like to reach out to local investors/agents to get a feel for the market there. Ideally we would like to find a property to house hack. Any suggestions/advice would be greatly appreciated!

[Kenya Arnett]

Hey Brittney, 

My husband and I are currently house hacking and own a couple properties, my husband is also real estate appraiser. The housing supply is low right now, and prices are high. There are a lot of investors in the area so finding  good deals can b a little challenging, but not impossible.  My advice would would be do look for a house in/around the Taylorsville/West Jordan/Murray area.  These are good areas with B and C level housing whose pricing hasn't shot through the roof like east side SLC or northern Utah County. There are many homes with already established basement apartments and a demand for rentals. You can rent a basement apartment for around a $1 per square foot or just under depending on the quality. Homes like this are going to run between 200-300K and the basement apartment can cover around 75% of your total mortgage. Good luck!