Salt Lake County Multifamily Buyer
Sell Your Commercial Property In Salt Lake County, UT
Salt Lake County is Utah’s urban core, covering Salt Lake City, West Valley City, Sandy, West Jordan, and the rest of the Salt Lake Valley. Its apartment market runs from older walk-ups near downtown to large suburban garden communities and transit-oriented projects along TRAX.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Cities We Cover: Salt Lake City · Draper · Murray · Cottonwood Heights · Holladay · Kearns — County seat: Salt Lake City
Salt Lake County
Where We Buy In Salt Lake County
We evaluate apartment buildings of 5+ units across Salt Lake County — in each city below, plus smaller towns and unincorporated areas countywide.
Local Market Data
Salt Lake County Apartment Market
Figures gathered October 2026 from public market data.
Owners who want to sell commercial property in Salt Lake County, UT are selling into a market where renters fill 144,370 of 426,245 occupied households, a 33.9% share, per the Census Bureau's 2020-2024 American Community Survey. Median gross rent in Salt Lake County has climbed 42.4% since the 2015-2019 survey, reaching $1,592, while the county added 62,877 residents over the same stretch to reach 1,196,523 people. Salt Lake City anchors the renter base, but suburbs from West Valley City to Sandy carry their own apartment stock. Rental vacancy sits at 5.5% countywide, units in 5-plus-unit buildings grew 23.7% since 2015-2019, and HUD's FY2027 two-bedroom Fair Market Rent for the area is $1,615. Those figures frame what a multifamily or apartment-building sale in Salt Lake County looks like today.
University of Utah anchors demand
38,000+ students and the state's only academic medical center drive steady rental demand near Salt Lake City.Salt Lake City airport expansion
28.2 million passengers used Salt Lake City International Airport in 2025, backing a $5.1 billion redevelopment program.Rent growth outpaces income
Median gross rent in Salt Lake County rose 42.4% since 2015-2019, versus 30.2% income growth over the same period.Who rents in Salt Lake County
Renters head 144,370 of the 426,245 occupied households in Salt Lake County, a 33.9% share in the 2020-2024 ACS. Owners hold the remaining 281,875 households. Statewide, Utah's renter share runs lower at 29.8%, so Salt Lake County skews more rental than Utah overall. The county's median year built of 1986 also points to an aging apartment stock that many owners are now weighing whether to sell or reposition.
Salt Lake City carries the largest renter pool in the county, with a 54.2% renter share and 40.9% of its units in 5-plus-unit buildings. West Valley City and West Jordan follow with large populations but lower renter shares, 27.9% and 22.8%. Millcreek and Murray run denser, each above 28% of units in 5-plus buildings, closer to Salt Lake City's apartment-heavy mix.
Rents, growth and affordability
Salt Lake County's median gross rent rose 42.4%, from $1,118 to $1,592, between the 2015-2019 and 2020-2024 ACS periods. Median household income grew 30.2% over the same span, to $97,494, so rent outpaced income growth across Salt Lake County.
Renter households in Salt Lake County increased 17.1%, adding 21,105 households, while units in 5-plus-unit buildings grew 23.7%, adding 20,057 units. That supply growth has not fully eased affordability: 48.8% of Salt Lake County renters paid 30% or more of income on gross rent in the 2020-2024 ACS. Employment in Salt Lake County grew 9.3% over the same comparison period, to 645,291 employed residents, supporting continued rental demand.
HUD's FY2027 two-bedroom Fair Market Rent for the Salt Lake City, UT HUD Metro FMR Area, which covers Salt Lake County, is $1,615, effective October 1, 2026, above the county's $1,592 median gross rent. Rental vacancy across Salt Lake County stands at 5.5%.
City-by-city comparison
Apartment density varies widely inside Salt Lake County. Salt Lake City leads at 40.9% of units in 5-plus-unit buildings, while South Jordan and West Valley City sit under 15%. West Jordan posts the highest rental vacancy among the largest cities, at 8.4%, versus 2.4% in Draper.
| City | Median gross rent | Renter share | Share of units in 5+ buildings | Rental vacancy |
|---|---|---|---|---|
| Salt Lake City | $1,414 | 54.2% | 40.9% | 4.9% |
| West Valley City | $1,504 | 27.9% | 11.8% | 4.8% |
| West Jordan | $1,757 | 22.8% | 14.9% | 8.4% |
| Sandy | $1,777 | 24.8% | 17.4% | 6.1% |
| South Jordan | $1,991 | 18.6% | 12.4% | 3.9% |
| Millcreek | $1,492 | 38.6% | 28.7% | 9.0% |
| Herriman | $2,019 | 21.4% | 15.8% | 4.0% |
| Taylorsville | $1,482 | 28.8% | 19.2% | 5.1% |
| Draper | $1,894 | 31.4% | 18.1% | 2.4% |
| Murray | $1,500 | 35.3% | 28.3% | 6.7% |
Property taxes and assessment in Salt Lake County
The Salt Lake County Assessor values property at fair market value as of January 1 each year under Utah Code 59-2-103. Apartment units that serve as a tenant's primary residence qualify for the state's 45% primary residential exemption, so 55% of value is taxable; units used for transient or secondary residential purposes are taxed on their full value.
Tax rates vary by district within Salt Lake County. The Salt Lake City tax district carried a combined 2025 rate near 0.0092400, covering the city, school district, county and water-conservancy levies, per the Salt Lake County Auditor's rate file. Owners should confirm their parcel's exact district rate with the Salt Lake County Assessor before pricing a sale. Real property valuation notices go out each fall, and the Board of Equalization runs for 45 days after that mailing for owners who want to appeal a Salt Lake County assessment.
What this means if you sell in Salt Lake County
Anyone ready to sell commercial property in Salt Lake County, UT is working from a county where rent has outrun income for five straight years and vacancy sits near 5.5%. That combination can support a multifamily buyer's underwriting, since rent growth of 42.4% since 2015-2019 points to continued demand.
Selling an apartment building in Salt Lake County also means navigating district-level tax rates and the primary residential exemption on tenant-occupied units. A direct sale to a multifamily buyer in Salt Lake County can sidestep a long listing period while owners work through those details, particularly in denser submarkets like Salt Lake City, Millcreek and Murray.
Local Knowledge
Selling Multifamily In Utah
What we factor into every Salt Lake County offer:
More about Utah →- Tenant-occupied units get Utah's 45% primary residential property tax exemption.
- No city or county in Utah may enact rent control without legislative approval.
- Security deposits must be returned within 30 days of move-out under Utah Code 57-17-3.
- Rental vacancy across Salt Lake County runs 5.5%, above the state average.
Property Tax
Property Tax In Salt Lake County For Apartment Owners
Homeowners in Salt Lake County pay a median of $2,836 a year in property tax on a median home value of $525,700, an effective rate of about 0.54%, according to the Census Bureau’s 2020-2024 American Community Survey. That is above the Utah statewide average of 0.48%.
How property tax works in Utah: classes, assessment and appeals →Estimate a building’s tax bill with the property tax calculator →
- Those figures describe owner-occupied homes. An apartment building can be assessed on a different basis or in a different class, so its bill as a share of value may differ.
- A sale can reset the assessed value. Before you price a Salt Lake County building, check how Utah reassesses property after a transfer and model the buyer’s new tax bill.
- Pull the actual tax bill from the Salt Lake County assessor or tax collector. City, school and special-district levies stack on top of the county rate.
Seller Guides
Selling A Building In Salt Lake County
Learn More
Taxes & Rules For Salt Lake County Property
The Utah rules that shape any deal in Salt Lake County: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Our Buy Box
What We Buy In Salt Lake County
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
How Selling To Us Works
- 01
Submit The Deal
Send the address, unit count, asking price, and a rent roll or T-12 if you have them.
- 02
Initial Review
We review it against our buy box and give clear feedback — typically within 48 hours.
- 03
Underwriting & LOI
If it fits, we underwrite in detail and submit a written letter of intent.
- 04
Diligence & Close
Inspections and financing on the agreed timeline, then a professional, predictable closing.
Salt Lake County Seller FAQ
How are apartment buildings assessed for property tax in Salt Lake County?
Salt Lake County Assessor values property at fair market value as of January 1. Units occupied as a tenant's primary residence get Utah's 45% residential exemption, so 55% of value is taxable; secondary or transient-use units are taxed on full value.
How much has rent grown in Salt Lake County?
Median gross rent in Salt Lake County rose 42.4%, from $1,118 to $1,592, between the 2015-2019 and 2020-2024 American Community Survey periods, while rental vacancy held at 5.5%.
Can Salt Lake City or Salt Lake County impose rent control?
No. Utah Code 57-20-1 bars any city, county or town from enacting rent control ordinances without express approval from the Utah Legislature, so rates in Salt Lake County follow the open market.
Is it a good time to sell an apartment building in Salt Lake County?
With 5.5% rental vacancy and 42.4% rent growth since 2015-2019, Salt Lake County shows strong renter demand. Owners weighing a sale can use current fact file data to benchmark against a buyer's offer.
How do I sell commercial property in Salt Lake County, UT?
Send the address, unit count, and any financials. We review Salt Lake County apartment buildings of 5+ units, give feedback typically within 48 hours, and follow with a written letter of intent if it fits.
Do you buy apartment buildings throughout Salt Lake County?
Yes. We evaluate multifamily properties across Salt Lake County, including Salt Lake City, Draper, Murray, Cottonwood Heights, Holladay, Kearns, Magna, Midvale, Riverton, South Salt Lake, West Valley City, West Jordan, Sandy, South Jordan, Millcreek, Herriman, and Taylorsville, as well as smaller towns and unincorporated areas. Every property is reviewed on its own fundamentals.
What size Salt Lake County properties do you buy?
Apartment buildings and income-producing residential properties with 5 or more units. Our sweet spot is 15–25 units, and we review larger communities with capital partners.
Will you buy a property that needs work or has high vacancy?
Yes. We underwrite value-add, mismanaged, and distressed properties as they are today — no repairs or lease-up required before selling.
Who buys occupied rental property in Salt Lake County?
We do. Skyline Capital Investments is a commercial real estate buyer of 5+ unit multifamily, and we buy apartment buildings with tenants in place, including properties with below-market rents.
Do I need a broker to sell my apartment building in Salt Lake County?
No. You can work with us directly, or your broker can bring the deal to us. Either way, conversations stay confidential.
How do property taxes factor into a Salt Lake County offer?
Property is assessed at the county level (the county seat is Salt Lake City), within Utah rules. Utah’s residential exemption can reduce taxable value for rental units that serve as tenants’ primary residences. We confirm how the property is classified and model post-sale taxes before making an offer.
Submit A Deal
Have A Property In Salt Lake County?
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
