ZIP 84118 - 860Z200US84118 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 84118, located in the heart of Utah’s Salt Lake County, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 41,000 and a diverse community, this ZIP code presents unique opportunities and challenges for homebuyers, real estate investors, small-business owners, and analysts. Using the latest data, we’ll break down key metrics on population, income, housing, and racial composition to help you make informed decisions about living or working in 84118.

Population & Households

ZIP 84118 is home to 41,969 residents, making it a sizable community with a strong local presence. These individuals are distributed across 12,026 households, indicating an average household size of roughly 3.5 people. This suggests a family-oriented area with potential demand for schools, childcare, and community services. Additionally, the total number of housing units stands at 12,230, showing a tight housing market with only a small surplus of units beyond occupied households. For those eyeing this area, understanding population density and household dynamics can guide decisions on property types or business offerings.

Income & Housing Costs

The median household income in ZIP 84118 is $87,457, reflecting a solid economic base for many residents. This income level supports a comfortable lifestyle in the region and indicates purchasing power for local businesses. On the housing front, the median home value is $348,500, positioning 84118 as a moderately priced market in the Salt Lake area—potentially attractive for first-time buyers or investors seeking value. Meanwhile, the median rent is $1,670 per month, which aligns with the income levels but may pose affordability challenges for lower-earning households. These figures highlight the balance between cost and opportunity in this ZIP code.

Race & Ethnicity

ZIP 84118 boasts a diverse population, with racial and ethnic composition breaking down as follows: 48.93% White, 39.0% Hispanic, 2.4% Black, and 1.88% Asian. This diversity shapes the cultural fabric of the community, offering a blend of perspectives and traditions. For businesses, this mix suggests a need for inclusive marketing and services tailored to varied customer bases. For residents and investors, it points to a vibrant, multicultural environment that could influence neighborhood dynamics, school systems, and local events in 84118.

Key Facts

• Total population: 41,969 residents in ZIP 84118 as of 2023.
• Total households: 12,026, with an average size of about 3.5 people.
• Total housing units: 12,230, indicating a near-full occupancy rate.
• Median household income: $87,457, supporting a stable local economy.
• Median home value: $348,500, a competitive price in the region.
• Median rent: $1,670, reflecting rental demand and cost considerations.
• Racial diversity: Nearly 39% Hispanic, alongside 48.93% White, 2.4% Black, and 1.88% Asian.

What This Means for You

For homebuyers, ZIP 84118 offers a family-friendly environment with a median home value of $348,500, which could be within reach for those earning near or above the area’s median income of $87,457. The tight housing market, with only a small gap between units and households, suggests acting quickly on opportunities. Investors and real estate agents will find potential in this area’s steady home values and rental rates of $1,670, which indicate consistent demand—especially for family-sized properties. The diverse demographic makeup also means a broad tenant pool. For small-business owners, the population of nearly 42,000 and diverse community in 84118 create a promising customer base, particularly for businesses offering culturally relevant goods or services. Finally, analysts can use these metrics to assess growth trends, housing affordability, and economic stability in this ZIP code, providing deeper insights for clients or stakeholders.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 84118? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Enter any ZIP code to access up-to-date population, housing, and income metrics tailored to your needs.
• Use the insights to make informed decisions for your next home purchase, investment, or business venture.