Holladay, Utah Information
Located southwest of Salt Lake City and nearly seven miles north of the City of Sandy, the attractive town of Holladay, Utah covers a 5.3 square mile area. It sits within Salt Lake County in a scenic location beside Spring Creek. The town occupies an elevation of 4,465 feet. Residents enjoy an excellent view of the western slopes of the nearby Wasatch Mountain Range. Interstate 215 crosses the eastern edge of the community, providing quick access to Salt Lake City and Interstate 15, a major north-south corridor through the Salt Lake Valley.
The town grew to 27,129 in 2014. Women slightly outnumber men (50.5% to 49.5%). A largely White (88.5%) and Hispanic (6%) population resides in this location, with some 22% claiming English ancestry. Unemployment in September, 2015 stood at 3.1%, lower than the state average of 3.3%.
Some six colleges or business schools operate within a 20 mile radius of this spot, offering residents excellent access to educational resources. In fact, one striking feature of Holladay concerns its generally well-educated inhabitants! Over half the town’s residents above the age of 25 hold a college degree; and fully one in five hold graduate or professional degrees. Nevertheless, the town actually spends some $3,000 less per student than the national average in its public schools.
About 15% of employed people in the community work in professional, scientific or technical fields. Health care, manufacturing and retail businesses also employ significant numbers of residents.
People in Holladay, UT enjoy a much lower violent crime rate than other places (28 on a national scale ranging from a low of 1 to a high of 100). They also encounter significantly reduced property crime.
Recreational opportunities in this location include skiing at nearby mountain ski resorts. Extensive outdoor recreational activities draw visitors to this scenic part of Utah throughout the year. Local residents can visit Salt Lake City to shop, dine or attend football games, concerts and other public events.
The town carries the surname of one of its founders, a Mormon pioneer from Alabama. He helped establish a village in this location in 1847. Although continuously inhabited since that time, the community did not officially incorporate until November 29, 1999.
The town’s population actually declined gradually between 1970 and 1990. However, following incorporation growth began increasing, with significant expansion occurring after the turn of the century. In 2002, the municipal government considerably extended the size of the town’s borders. Preserving recreational spaces and carefully managing commercial development have both become important local government issues during recent years.
Today, the community has attracted an affluent population. The estimated household income exceeds the average for the state by nearly $20,000 annually. In 2015, estimated average household income stood at $80,049, with a comfortable per capita individual income of $42,451.
This situation has contributed to generally higher than average real estate values in this area. The estimated median price of house (including condos) in 2015 stood at $375,188, a figure considerably higher than the state average. The town’s real estate market includes both stately older homes, and some recently constructed properties.
Recently, Zillow indicated the average price of a home offered for sale in Holladay stood at $376,500. However, broad price differences existed within the spectrum of asking prices, with some homes selling for lesser amounts and others commanding higher prices.
In mid-February, Zillow listed some 89 properties for sale in the town or its immediate environs. Prices covered a wide spectrum. Some sellers of large, upscale custom homes sought sales prices in excess of $1,000,000, for instance. The location, the size and condition of the home, the size of the real estate parcel, and a variety of amenities all potentially contribute to the total value of the property.
Landlords reported an average monthly rental figure of $1,018 in 2015 in this community. For example, properties listed on the zillow.com website include two bedroom, one bath townhouses of 750 square feet with a rental price of $1,000 per month. In general, mobile homes and apartments generate lower monthly rents than standalone houses in this community. Some large houses command rents between $2,500 and $4,000 monthly.
Many factors may enter into the price asked for a rental property in this area. Landlords frequently benefit by obtaining assistance from a qualified, experienced local property management firm. Call us anytime to receive a professional market analysis of your rental home!
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