The median household income in the neighborhood in 2015 was $74,346. This is significantly higher than Salt Lake City’s median income which was estimated to be $48,761 in the same year. Most people in Sugar House work in sales and office occupations. In 2016, approximately 44 percent of men and women were working in this field. Most of the residents in this area are upper class citizens due to high income levels.

The town has two major shopping centers with retail stores, a cinema, and several dining options. It was originally known as Salt Lake City’s retail furniture district, home to many local furnishing and home improvement shops. Even though it has more recently added corporate-owned shops, it still remains one of Salt Lake City’s only neighborhoods made up of primarily locally-owned businesses. The town also has their own local super market that runs on Wednesday nights.

Nearby is Sugar House Park which some residents call a “crown jewel.” It is an 11-acre park with a large pond that hosts a big fireworks celebration on the 4th of July. Oddly enough, its grounds used to be home to the first state prison in Utah until it was closed in 1951. The prison was destroyed and the park was constructed in its place. The neighborhood’s local high school, Highland High School, is also located within the park grounds.

Besides being close to the downtown area of Salt Lake City, there are many fun things to do and see near the town. The Natural History Museum of Utah is located just 3 miles away from the park. The exhibits are interactive and a popular place to take young children. The world-famous Mormon Tabernacle Choir also holds concerts just 4 miles away from the town.

Many residents also enjoy weekends out at Utah’s many national parks and mountain areas. The town is actually very close to the summit of a mountain range just east of it. Gobblers Knob is the closest mountain peak and a popular place to go to see fields of wildflowers and beautiful scenery. Arches National Park is also only a 3.5 hour drive from the town. This is one of the nation’s premier parks and a very popular spot for tourists.

Established in 1853, it is actually the oldest neighborhood in Salt Lake City, Utah. Most of the houses in this area were built before the 1990s. It is an area full of old homes and tree-covered streets. The average estimated house value in 2015 was $356,024. Most of the houses for sale have 3 to 5 bedrooms. The cheaper houses in the neighborhood are 1 to 2 bedrooms with an average cost of $190,000.

According to many news sources, Salt Lake City is currently one of the nation’s best places to invest in rental properties. This is primarily due to the area’s estimated job growth. As a populous younger generation grows up and starts families, the rental market is already seeing an increase in young couples and families renting more in the neighborhood.

The median rent for a 1 to 2 bedroom apartment in 2015 was $919 per month. For house rentals with multiple bedrooms, the rent was higher with an average of $1,400 per month. There are currently proposals being made to create a large residential apartment building in this area to accommodate the growth in residents.

Utah also has a relatively low property tax, making it an ideal place to buy a home. Homeowners insurance premiums are relatively low compared to the nation’s statistics. Homeownership rates appear to be getting lower as rental prices get higher every year.

Sugar House Park Property Management

Keyrenter Salt Lake specializes in residential property management, in Sugar House Park, UT. We offer multiple services to take your rental property and convert it into reliable income. We have a thorough screening process that helps to identify the right tenants for your property. Our team works hard to keep both parties happy through effective communication, bullet proof lease agreements, and timely monthly rent collection. We offer maintenance services to enhance the property and ensure that it will retain or increase in value. We oversee everything, allowing you to sit back and relax and know that your property and your tenants are in good hands.

Sugar House Park is a growing, developing area that has a great demand for property rentals. We’ll find qualified tenants for your property fast! Call us at 801.783.1300 or contact us today for a free market assessment based on your property’s features in your specific area!