- The Canovo Report
- Posts
- SLC Ranked #5 for Metros With Worst Housing Crisis Outlook
SLC Ranked #5 for Metros With Worst Housing Crisis Outlook
Utah Active Listings Continue to Surge — Pricing Remains Steady; Lehi Fourplex Sells for ~$180k/Unit
David Robinson
June 11, 2025
Featured Listings
> Click images below to view details and run cash flow analysis.
Canovo Group may not be the listing brokerage for the above properties. The information provided is not guaranteed and should not be relied upon to make investment decisions. Buyers should complete their own analysis and due diligence before making any investment.
Sold Multi-Unit Listings
Utah Market Data
> Multi-Unit (2+ Units) Data
Current Number of Active Listings
Active multi-unit listings reaches 10 year high sitting at 289 active listings up from 249 in Q2 2024
Median Asking Price Per Square Foot for Active Listings
Median price per square foot for single family homes remains steady currently sitting at $850,000 matching Q2 2024 ($849,900)
> Single Family Homes Data
Current Number of Active Listings
Active single family home listings reaches 10 year high sitting at 12,448 active listings up from 9,714 in Q2 2024
Median Asking Price Per Square Foot for Active Listings
Median price per square foot for single family homes remains steady currently sitting at $599,900 matching Q2 2024
Rates & Financing
> Mortgage Rates as of 6/11/2025
Source: Mortgage News Daily
Headlines & Insights
FEATURED
Salt Lake City Ranked Among Metros With Worst Housing Crisis Outlook
A new LendingTree study ranks Salt Lake City as the fifth-worst metro for housing crisis outlook in the U.S., driven by rising home prices and limited vacancies.
Key insights for Salt Lake City:
Salt Lake City's home value-to-income ratio stands at 5.03 — one of the highest in the nation — signaling worsening affordability.
The metro's vacancy rate is low at 5.31%, and housing unit approvals are relatively modest at 12.57 per 1,000 units, indicating supply is not keeping up with demand.
Other metros with similarly poor outlooks include Portland, Boise, and Bridgeport, while the best outlooks are seen in Southern cities like McAllen, TX, and Wilmington, NC.
What this means for Utah investors:
Salt Lake City’s inclusion on the “worst outlook” list highlights both a challenge and an opportunity. On one hand, affordability concerns and constrained inventory could slow buyer demand and limit price appreciation. On the other, these same conditions may sustain high rental demand and low vacancy rates—favorable for multifamily investors. Investors should keep a close eye on local housing policy and new construction trends, as the tight market dynamics could drive interest in rental housing or lower-priced condo ownership initiatives across the Wasatch Front.
www.lendingtree.com/home/mortgage/housing-crisis-outlook-study
What did you think of today's report? |
David Robinson
Principal Broker/Owner
Whenever you’re ready, here are a few ways I can help you:
1. Access David’s Private Deal Flow: Get exclusive access to my private pipeline of pre-market and off-market multi-unit deals. I work 1-on-1 with a small group of clients to help them source, underwrite, and close high-quality opportunities—with hands-on guidance from start to finish.
2. Free Property Performance Review: Whether you own one rental or a full portfolio, I’ll personally review your holdings to assess current value, performance, and your next best move. This isn’t a sales call—it’s a data-backed review designed to give you clarity and confidence moving forward.
3. Free 15-Minute Strategy Call: Whether you're a new or experienced investor, this quick call is a chance to talk through your goals, learn more about our services, explore investment options, or get feedback on a current property or project.
