overview 2011 prepared for south salt lake brandon smith rick davidson...
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South Salt Lake HousingOverview 2011
Prepared For South Salt Lake
Brandon Smith Rick [email protected] [email protected]
Demographic Snapshot
Population
23,617
Households 8022
Avg HH Size 2.47
Median age 28.9
Median HH Income $ 29,817
Average HH Income
Per capita $ 15,474
Existing Housing SnapshotTotal Homes 5122Total Rentals 4972Rental % 49.3%Total Acres 868.22
Total Bldg Area 7,351,456
Average Lot Size 0.17
Average Home Size
1,435 Average Age 1959
Multifamily Housing Snapshot
Multifamily Housing Summary
Pre-1990 Post 2000
Total Rental Units 4972 100
Total Vacant 408 1
Vacancy % 8.20% 1%
Rental % 49.3% --
Average Age 1964 2010
Average Rent 1 bedroom $ 625 $ 900
Average Rent 2 bedroom $ 750 $ 1,200
Average Rent 3 bedroom $ 890 $ 1,361
South Salt Lake Residential Construction
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110
20
40
60
80
100
120
Single-Family Homes Duplexes-Twin Homes Condominiums Apartments
Permit History 1994 to present
Future of Housing
Green Living Small Lot (5-8k SF lots),
small footprint In-fill vs. urban sprawl Efficiency and
affordability is new focus
Single Family
Future of Housing
Higher density – Higher quality communities
Transit Oriented Focus Larger communities
and better amenities Lifestyle Renters Convenience
To Services Employment Transportation Amenities
Multi Family
East Side Residential Block
Property Summary (East of State)
Total Bldg Area 7,351,456
Average Home Size 1,435
Total Assessed Value $ 473,190,144
Average Assessed Value $ 92,383.86
Subsequent Avg Land Price $ 12.51
Average Lot Size 0.17
West Side Industrial Block
Property Summary (West of State)
Total Bldg Sf
8,538,530
Total Acreage 990
Assessed Value $ 90,932,802
Assessed Value/Acre $ 395,033
Assessed Value/PSF $ 9.07
Average Lot Size (Acres) 0.44