Marcus & Millichap

  • $137,689,050 Value of recently closed transactions
  • 22 Closed sales in most recent year
  • $18,950,000 Total value of recent listings Search current listings
Centrally located among the major western U.S. markets, Salt Lake City is known as the “Crossroads of the West.”
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Salt Lake City Research and Data

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Salt Lake City

Salt Lake City's economy grew by 3.5 percent in 2013 as a highly skilled and bilingual workforce, as well as a low cost of doing business, attract employers. A stable base of government entities is located in the metro, while growing companies in the private sector include technology leaders eBay and Oracle Corp. These companies, along with Twitter Inc. and the National Security Agency, have located data centers in the Salt Lake City metro.

Tourism will remain a top employment generator over the coming years, as several world-class ski resorts, including Brighton, Park City, Alta and Snowbird, are less than an hour drive from the airport. In addition, Salt Lake City can host numerous conventions and trade shows at meeting facilities, such as the 365,000-square-foot Salt Palace Convention Center and the Energy Solutions Arena.

Internally generated economic growth is robust, with a significant entrepreneurial element launching new technology and other businesses. Many of these companies are launched from research conducted at the University of Utah and Brigham Young University. Population-serving industries, such as the education and healthcare segment, and the trade, transportation and utilities sector, will continue to grow alongside strong population gains.

The Salt Lake City metro is situated in the Great Salt Lake Valley in northern Utah. The region is hemmed in by the Great Salt Lake to the northwest, the Wasatch Range to the east and the Oquirrh Mountains to the west. The Salt Lake City, Provo-Orem and Ogden-Clearfield metros together comprise the Wasatch Front.

The Salt Lake City metro has nearly 1.2 million people in three counties: Salt Lake, Tooele and Summit. More than 90 percent of the population lives in Salt Lake County. Salt Lake City is the largest city, with 191,500 inhabitants. The highest percentage of population growth continues to center on the suburban areas such as West Jordan while the entire metro is expected to grow 1.1 percent annually over the next five years.