ZIP Code Market Report
84116 — Salt Lake City, UT
Data through February 2026 · Updated monthly
Avg Home Value
$446,169
▼ 1.4% year-over-year
Month-over-Month
-0.1%
▼ 0.1%
Single Family
$450,609
Condo / Co-op
$217,745
The average home value in the 84116 ZIP code (Salt Lake City, Utah) is $446,169 as of February 2026. Home prices are declining, down 1.4% compared to last year.
A 3-bedroom home in 84116 is valued at $440,319. 1-bedroom units start around $242,385. Single-family homes average $450,609, while condos average $217,745.
The market in 84116 has a $137,126 spread between bottom-tier homes at $370,968 and top-tier homes at $508,094. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 84116 ZIP code will decrease 0.5% over the next 12 months, bringing the projected average to approximately $443,938. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Salt Lake County market area in Utah. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Salt Lake County report.
Free Home Value Estimate
What's your home worth in 84116 (Salt Lake City)?
Get a free estimate based on recent sales and market data in your neighborhood. See how your home compares.
Free · Takes 30 seconds · Based on real sale data
Market Snapshot
84116 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $447,735 | $446,807 | $446,169 | ▼ 0.3% |
| Single Family Value | $448,688 | $449,507 | $450,609 | ▲ 0.4% |
Home Values
84116 Home Value Trend
Historical home values for ZIP code 84116. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 84116
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 1 Bedroom | $242,385 |
| 2 Bedrooms | $357,372 |
| 3 Bedrooms | $440,319 |
| 4 Bedrooms | $475,154 |
Property Types
Home Values by Property Type in 84116
How different property types compare in this ZIP code.
All Homes
$446,169
Single Family
$450,609
Condo / Co-op
$217,745
Bottom Tier
$370,968
Top Tier
$508,094
Forecast
12-Month Home Value Forecast for 84116
Zillow projects home values in 84116 will decrease 0.5% over the next year, reaching approximately $443,938.
Current Value
$446,169
Projected Change
-0.5%
▼ 0.5%
Projected Value
$443,938
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 84116 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
Investing in Salt Lake City?
Run your ARV and MAO instantly with live market data