Airbnb City Guide: The Best Places To Invest in Salt Lake City, Utah

Airbnb Rules and Regulations in Salt Lake City, Utah

As of 2024, Salt Lake City has implemented comprehensive regulations for short-term rentals. Hosts must obtain a business license from the city and are limited to renting out their primary residence or a portion of it for no more than 183 days per year. The property owner or a local representative, like a co-host or property manager, must be available 24/7 to respond to any issues that may arise. Entire home rentals are allowed in certain zoning districts, but hosts must notify neighbors within 300 feet of their intent to operate a short-term rental.

Multi-family buildings can prohibit short-term rentals through their HOA rules. The city requires hosts to collect and remit transient room taxes, maintain liability insurance, and ensure compliance with building codes and occupancy limits. Failure to follow these regulations can result in fines and short-term rental license revocation.

Salt Lake City Airbnb Market Data:

• Average Revenue – $44.9K per year
• Average Daily Rate – $198.2 per night
• Average Occupancy Rate – 62%
• Average RevPAR – $124.5
• Average Home Prices – $91,891

1. Top Place to Invest in Salt Lake City, Utah - East Central

East Central, a vibrant and eclectic neighborhood in the heart of Salt Lake City, has emerged as a prime location for those looking to start an Airbnb business. With its diverse mix of historic homes, trendy shops, and proximity to downtown attractions, East Central offers a unique and appealing experience for visitors seeking an authentic taste of Salt Lake City living.

East Central Airbnb Market Data:

• Average Revenue – $35.7K per year
• Average Daily Rate – $148.3 per night
• Average Occupancy Rate – 66%
• Average RevPAR – $99.9

Convenience - 9/10

East Central boasts exceptional convenience, with a wide array of shops, restaurants, and services within walking distance. The neighborhood is well-connected by public transportation, making it easy for visitors to explore the city without the need for a car. The area's central location also provides quick access to major highways and the Salt Lake City International Airport.

Tourist Attractions - 7/10

While East Central itself is not home to many major tourist attractions, its proximity to downtown Salt Lake City puts visitors within easy reach of numerous notable destinations. These include Temple Square, the Utah State Capitol, and the Natural History Museum of Utah. The neighborhood's unique character and historic architecture also draw visitors interested in exploring the city's rich heritage.

Things to Do - 8/10

East Central offers a diverse range of activities and entertainment options. The neighborhood is known for its thriving arts scene, with numerous galleries, studios, and live music venues scattered throughout the area. Visitors can also enjoy a variety of local festivals and events, such as the 9th & 9th Street Festival and the Utah Arts Festival, which take place nearby.

Average Home Prices - 6/10

According to Zillow data, the median home price in East Central as of 2024 is $550,000, representing a modest 2.1% appreciation rate over the past year. While these prices are relatively high compared to other areas of Salt Lake City, the neighborhood's desirable location and strong rental demand may justify the investment for some buyers. However, the limited inventory of available properties can make it challenging for investors to find suitable deals.

Proximity to Work-Related Travel - 8/10

East Central's central location makes it an ideal base for visitors traveling for work-related purposes. The neighborhood is just a few miles from the Salt Palace Convention Center and several major hospitals and universities. The area's excellent public transportation connections also make it easy for visitors to reach other parts of the city quickly and efficiently.

X-Factor - 9/10

East Central's primary selling point is its unique blend of vintage charm and modern perks. The neighborhood's beautiful, tree-lined streets and well-preserved historic homes create a charming and inviting atmosphere, while its thriving arts scene and diverse mix of local businesses add a vibrant and eclectic energy. This combination of old-world character and contemporary cool makes East Central a highly desirable destination for Airbnb and short-term rental guests seeking an authentic and memorable Salt Lake City experience.

2. Top Place to Invest in Salt Lake City, Utah - Downtown

Downtown Salt Lake City is the epicenter of urban renaissance, an area synonymous with vitality and growth. With a dynamic blend of residential and commercial prosperity, this bustling district emerges as a prime target for savvy short-term rental investors seeking properties with high ROI potential in the heart of Utah's capital city.

Downtown Airbnb Market Data:

• Average Revenue – $37.2K per year
• Average Daily Rate – $159.3 per night
• Average Occupancy Rate – 64%
• Average RevPAR – $103

Convenience - 9/10

Downtown Salt Lake City boasts exceptional convenience, with numerous shops, restaurants, and services within walking distance. The area is well-served by public transportation, including TRAX light rail and extensive bike lanes, making it easy for residents and visitors to navigate the city center without relying on personal vehicles.

Tourist Attractions - 8/10

As the cultural and historical hub of Salt Lake City, Downtown offers a plethora of attractions for visitors. There's no shortage of captivating destinations, from the iconic Temple Square to the fascinating museums like the Clark Planetarium and Discovery Gateway. The vibrant arts scene, featuring galleries, theaters, and live music venues, adds to the area's allure.

Things to Do - 9/10

Downtown Salt Lake City pulses with energy, offering an array of activities and events for all ages. Immerse yourself in the lively atmosphere of the Downtown Farmers Market, catch a Utah Jazz game at Vivint Smart Home Arena, or indulge in the thriving food and craft cocktail scene. There's always something exciting happening Downtown, with festivals, concerts, and community gatherings throughout the year.

Average Home Prices - 6/10

According to Zillow data, the median home price in Downtown Salt Lake City as of 2024 is $525,000, reflecting a modest appreciation rate of 2.5% over the past year. While prices are relatively high compared to other areas of the city, the prime location and strong demand for urban living justify the investment for many buyers.

Proximity to Work-Related Travel - 9/10

Downtown Salt Lake City is the central business district, home to major employers, hospitals, and the Salt Palace Convention Center. The area's strategic location and robust public transportation network make it the perfect location for corporate rentals, targeting professionals and business travelers. The Salt Lake City International Airport is just a short drive away, further enhancing the convenience for those frequently on the move.

X-Factor - 9/10

Downtown Salt Lake City's unique blend of urban sophistication and natural beauty sets it apart. The stunning backdrop of the Wasatch Mountains adds a dramatic flair to the cityscape, while the meticulously maintained green spaces and parks provide a serene escape from the urban bustle. The area's rich history, vibrant arts and culture scene, and diverse dining and entertainment options create an irresistible atmosphere that appeals to residents and visitors alike.

3. Top Place to Invest in Salt Lake City, Utah - Sugar House

Sugar House, a charming and eclectic neighborhood southeast of downtown Salt Lake City, has emerged as a highly desirable location for Airbnb and short-term rental investments. With its unique blend of historic charm, trendy shops and restaurants, and easy access to outdoor recreation, Sugar House offers a compelling mix of amenities that appeals to a wide range of visitors.

Sugar House Airbnb Market Data:

• Average Revenue – $38.8K per year
• Average Daily Rate – $171.5 per night
• Average Occupancy Rate – 62%
• Average RevPAR – $109.9

Convenience - 8/10

Sugar House boasts excellent convenience, with a variety of shops, restaurants, and services concentrated along the bustling 2100 South and 1100 East corridors. The neighborhood is well-connected by public transportation, including several bus routes and the S-Line streetcar, which provides easy access to downtown Salt Lake City.

Tourist Attractions - 6/10

While Sugar House is not home to major tourist attractions, its proximity to outdoor recreation and downtown Salt Lake City makes it an attractive visitor base. The neighborhood's historic architecture, including the iconic Sugar House Monument, adds to its charm and appeal. Nearby attractions include Sugar House Park, the Natural History Museum of Utah, and the Hogle Zoo.

Things to Do - 8/10

Sugar House offers a diverse array of activities and entertainment options. The neighborhood is known for its lively dining and nightlife scene, with numerous bars, restaurants, and cafes catering to various tastes. Sugar House Park, a sprawling 110-acre green space, provides ample opportunities for outdoor recreation, including hiking, biking, and picnicking. The neighborhood also hosts several popular events throughout the year, such as the Sugar House Farmers Market and the Sugar House Arts Festival.

Average Home Prices - 7/10

According to Zillow data, the median home price in Sugar House as of 2024 is $475,000, representing a steady appreciation rate of 3.2% over the past year. While prices are higher than some other areas of Salt Lake City, the neighborhood's desirable location, strong rental demand, and potential for long-term appreciation make it an attractive option for investors.

Proximity to Work-Related Travel - 7/10

Sugar House is located approximately 4 miles southeast of downtown Salt Lake City, providing relatively easy access to the city's central business district, hospitals, and the Salt Palace Convention Center. The neighborhood's public transportation connections and proximity to major highways, such as I-80 and I-215, make it a convenient base for work-related travel.

X-Factor - 9/10

Sugar House's unique selling point is its perfect blend of historic charm, modern amenities, and community spirit. The neighborhood's tree-lined streets, well-preserved historic buildings, and thriving local business scene create a welcoming and vibrant atmosphere that appeals to visitors seeking an authentic Salt Lake City experience. The area's proximity to outdoor recreation and trendy shops, restaurants, and entertainment options make it a desirable destination for Airbnb and short-term rental guests.

4. Top Place to Invest in Salt Lake City, Utah - The Avenues

Nestled on the foothills of the Wasatch Mountains, The Avenues is a historic and picturesque neighborhood that has captured the attention of those setting to start short-term rental businesses in Salt Lake City. With its stunning Victorian-era homes, tree-lined streets, and proximity to downtown attractions, The Avenues offers a unique and charming experience for visitors seeking a taste of Salt Lake City's rich heritage.

The Avenues Airbnb Market Data:

• Average Revenue – $41.3K per year
• Average Daily Rate – $179.5 per night
• Average Occupancy Rate – 63%
• Average RevPAR – $114.8

Convenience - 7/10

The Avenues offers moderate convenience, with a handful of local shops, restaurants, and services scattered throughout the neighborhood. While the area is primarily residential, its proximity to downtown Salt Lake City puts residents and visitors within easy reach of a wider range of amenities. The neighborhood is served by several bus routes, providing access to other parts of the city.

Tourist Attractions - 6/10

The Avenues itself is a historic attraction, boasting beautiful Victorian and early 20th-century homes that showcase the neighborhood's architectural heritage. Nearby attractions include the Utah State Capitol, Memory Grove Park, and the City Creek Canyon Trail. However, visitors seeking major tourist destinations may need to venture into downtown Salt Lake City or beyond.

Things to Do - 7/10

The Avenues offers a relaxed and laid-back atmosphere with a focus on outdoor recreation and community events. The neighborhood's tree-lined streets and historic homes provide a pleasant backdrop for walking and biking tours. Memory Grove Park and City Creek Canyon offer hiking trails and picnic areas, while local events like the Avenues Street Fair and the Avenues Open Gardens showcase the community's vibrant spirit.

Average Home Prices - 6/10

According to Zillow data, the median home price in The Avenues as of 2024 is $650,000, representing a modest appreciation rate of 2.8% over the past year. These relatively high prices and the neighborhood's limited inventory of available properties may present challenges for investors seeking affordable deals. However, the area's historic charm, desirable location, and potential for long-term appreciation may justify the investment for some buyers.

Proximity to Work-Related Travel - 8/10

The Avenues is located just north of downtown Salt Lake City, providing easy access to the city's central business district, hospitals, and the Salt Palace Convention Center. The neighborhood's proximity to major highways, such as I-15 and US-89, makes it a convenient base for work-related travel. The Salt Lake City International Airport is also just a short drive away.

X-Factor - 9/10

The Avenues' primary selling point is its stunning historic architecture and quaint, small-town feel within the larger city of Salt Lake City. The neighborhood's beautifully preserved Victorian homes, tree-lined streets, and a strong sense of community create a unique and inviting atmosphere that appeals to visitors seeking a more authentic and immersive experience. This historic charm and the area's proximity to outdoor recreation and downtown attractions set The Avenues apart as a highly desirable destination for Airbnb and short-term rental guests.

5. Top Place to Invest in Salt Lake City, Utah - Holladay

Holladay, a charming suburban community nestled in the foothills of the Wasatch Mountains, has emerged as an attractive investment opportunity for Airbnb and short-term rental investors in the Salt Lake City area. With its picturesque neighborhoods, excellent schools, and easy access to outdoor recreation, Holladay offers a peaceful and family-friendly atmosphere that appeals to a wide range of visitors.

Holladay Airbnb Market Data:

• Average Revenue – $K per year
• Average Daily Rate – $225.8 per night
• Average Occupancy Rate – 63%
• Average RevPAR – $144.6

Convenience - 7/10

Holladay provides a moderate level of convenience, with several local shops, restaurants, and services scattered throughout the community. While the area is primarily residential, its proximity to Salt Lake City puts residents and visitors within easy reach of a wider range of amenities. The neighborhood is served by several bus routes, providing access to other parts of the city.

Tourist Attractions - 5/10

As a suburban community, Holladay itself does not boast major tourist attractions. However, the area's proximity to outdoor recreation, such as the Cottonwood Canyons and the Wasatch Mountains, makes it an attractive base for visitors seeking to explore the region's natural beauty. Nearby attractions include the Hogle Zoo, the Living Planet Aquarium, and the Cottonwood Heights Recreation Center.

Things to Do - 6/10

Holladay offers a laid-back and family-friendly atmosphere with a focus on outdoor recreation and community events. The area's well-maintained parks, such as Holladay City Park and Olympus Hills Park, provide ample opportunities for picnicking, sports, and playtime. The community also hosts several annual events, including the Holladay Arts Festival and the Blue Moon Festival, which showcase local talent and bring residents together.

Average Home Prices - 7/10

According to Zillow data, the median home price in Holladay as of 2024 is $550,000, representing a steady appreciation rate of 3.5% over the past year. While prices are higher than in some other areas of Salt Lake City, the neighborhood's desirable location, strong rental demand, and potential for long-term appreciation make it an attractive option for investors.

Proximity to Work-Related Travel - 6/10

Holladay is located approximately 9 miles southeast of downtown Salt Lake City, which may be a slight disadvantage for those traveling frequently for work-related purposes. However, the neighborhood's easy access to major highways, such as I-215 and I-80, somewhat mitigates this issue, making it a manageable commute to the city's central business district, hospitals, and convention centers.

X-Factor - 8/10

Holladay's primary selling point is its family-friendly atmosphere and strong sense of community. The area's well-maintained homes, excellent schools, and safe neighborhoods create a welcoming environment for visitors, particularly those traveling with children. The community's proximity to outdoor recreation and its laid-back suburban charm make it an appealing destination for Airbnb and short-term rental guests seeking a peaceful and comfortable stay near Salt Lake City.

6. Top Place to Invest in Salt Lake City, Utah - Cottonwood Heights

Cottonwood Heights, a thriving suburban city located at the base of the Wasatch Mountains, has recently gained attention as a promising investment opportunity for Airbnb and short-term rental investors in the Salt Lake City area. With its stunning mountain views, excellent outdoor recreation, and convenient access to the city and ski resorts, Cottonwood Heights offers visitors a unique and appealing experience.

Cottonwood Heights Airbnb Market Data:

• Average Revenue – $82.3K per year
• Average Daily Rate – $402.4 per night
• Average Occupancy Rate – 56%
• Average RevPAR – $228.1

Convenience - 8/10

Cottonwood Heights offers a high level of convenience, with numerous shops, restaurants, and services located throughout the city. The area is well-served by major highways, such as I-215 and SR-210, providing easy access to downtown Salt Lake City and the surrounding region. Public transportation options, including bus routes and the TRAX light rail system, further enhance the city's convenience.

Tourist Attractions - 7/10

While Cottonwood Heights itself is not home to major tourist attractions, its proximity to world-class ski resorts and outdoor recreation makes it an attractive destination for visitors. The nearby Big Cottonwood Canyon and Little Cottonwood Canyon offer stunning hiking trails, rock climbing, and scenic drives. The city also boasts several well-maintained parks, such as the Cottonwood Heights Recreation Center and the Ferguson Canyon Trail.

Things to Do - 8/10

Cottonwood Heights offers a wide range of activities and entertainment options, particularly for outdoor enthusiasts. In addition to the exceptional skiing and snowboarding at nearby resorts like Alta, Snowbird, and Brighton, the city provides ample opportunities for hiking, biking, and golfing during the warmer months. The Cottonwood Heights Recreation Center features a fitness center, swimming pools, and sports courts, while the city's parks host various community events throughout the year.

Average Home Prices - 7/10

According to Zillow data, the median home price in Cottonwood Heights as of 2024 is $525,000, representing a steady appreciation rate of 3.8% over the past year. While prices are higher than in some other areas of Salt Lake City, the city's desirable location, strong rental demand, and potential for long-term appreciation make it an attractive option for investors.

Proximity to Work-Related Travel - 6/10

Cottonwood Heights is located approximately 12 miles southeast of downtown Salt Lake City, which may be a slight disadvantage for those traveling frequently for work-related purposes. However, the city's convenient access to major highways and public transportation options somewhat mitigates this issue, making it a manageable commute to the city's central business district, hospitals, and convention centers.

X-Factor - 9/10

Cottonwood Heights' primary selling point is its unparalleled access to outdoor recreation and stunning natural beauty. The city's location at the base of the Wasatch Mountains and its proximity to world-class ski resorts and hiking trails make it a highly desirable destination for visitors seeking an active and adventurous experience. The area's well-maintained neighborhoods, strong sense of community, and convenient access to Salt Lake City further enhance its appeal to Airbnb and short-term rental guests.

7. Top Place to Invest in Salt Lake City, Utah - Kearns

Kearns, a diverse and affordable community located in the heart of Salt Lake Valley, has recently emerged as a potential investment opportunity for Airbnb and short-term rental investors. With its convenient location, family-friendly atmosphere, and proximity to local attractions, Kearns offers a comfortable and accessible base for visitors exploring the greater Salt Lake City area.

Kearns Airbnb Market Data:

• Average Revenue – $32.1K per year
• Average Daily Rate – $149 per night
• Average Occupancy Rate – 59%
• Average RevPAR – $90.8

Convenience - 6/10

Kearns provides a moderate level of convenience, with a handful of local shops, restaurants, and services scattered throughout the community. While the area is primarily residential, its central location in Salt Lake Valley puts residents and visitors within easy reach of a wider range of amenities in nearby cities. The neighborhood is served by several bus routes, providing access to other parts of the region.

Tourist Attractions - 4/10

As a primarily residential area, Kearns itself does not boast major tourist attractions. However, the community's proximity to Salt Lake City and other nearby destinations makes it a convenient base for visitors looking to explore the region's offerings. The Utah Olympic Oval, a legacy venue from the 2002 Winter Olympics, is located in Kearns and offers public skating and tours.

Things to Do - 5/10

Kearns offers limited activities and entertainment options, primarily focused on outdoor recreation and community events. The area's parks, such as Oquirrh Park and Kearns Oquirrh Park Fitness Center, provide opportunities for sports, picnicking, and fitness activities. The community also hosts several annual events, including the Kearns Community Days and the Oquirrh Hills Storytelling Festival, which celebrate local culture and bring residents together.

Average Home Prices - 8/10

According to Zillow data, the median home price in Kearns as of 2024 is $325,000, representing a modest appreciation rate of 2.6% over the past year. These relatively affordable prices, combined with the area's central location and potential for steady rental demand, make it an attractive option for investors looking to enter the Salt Lake City market.

Proximity to Work-Related Travel - 7/10

Kearns is located approximately 12 miles southwest of downtown Salt Lake City, which may be a slight disadvantage for those traveling frequently for work-related purposes. However, the community's convenient access to major highways, such as I-215 and SR-201, somewhat mitigates this issue, making it a manageable commute to the city's central business district, hospitals, and convention centers.

X-Factor - 6/10

Kearns' primary selling point is its affordability and central location within Salt Lake Valley. The area's diverse population, family-friendly neighborhoods, and convenient access to nearby cities make it an appealing option for visitors seeking a budget-friendly and accessible base for exploring the region. While Kearns may not offer the same level of amenities or attractions as other parts of Salt Lake City, its affordability and potential for steady rental demand make it worth considering for Airbnb and short-term rental investors.

8. Top Place to Invest in Salt Lake City, Utah - South Salt Lake

South Salt Lake, a vibrant and diverse city nestled in the heart of Salt Lake Valley, has recently gained attention as a promising investment opportunity for Airbnb and short-term rental investors. With its convenient location, thriving arts scene, and proximity to downtown Salt Lake City, South Salt Lake offers a unique and dynamic experience for visitors seeking an urban adventure.

South Salt Lake Airbnb Market Data:

• Average Revenue – $33.3K per year
• Average Daily Rate – $138.4 per night
• Average Occupancy Rate – 66%
• Average RevPAR – $92.6

Convenience - 8/10

South Salt Lake boasts excellent convenience, with a wide array of shops, restaurants, and services located throughout the city. The area is well-served by public transportation, including the TRAX light rail system and several bus routes, making it easy for residents and visitors to navigate the city and access nearby attractions. The city's central location in Salt Lake Valley also provides quick access to major highways, such as I-15 and I-80.

Tourist Attractions - 6/10

While South Salt Lake itself is not known for major tourist attractions, its proximity to downtown Salt Lake City and other nearby destinations makes it an attractive base for visitors. The city is home to several unique attractions, such as the Dreamscapes Museum of Art, which offers immersive and interactive art experiences, and the Historic Scott School, a beautifully restored building that now serves as a community center and event space.

Things to Do - 7/10

South Salt Lake offers diverse activities and entertainment options, particularly for those interested in the arts and culture scene. The city's burgeoning creative district, which includes art galleries, studios, and performance spaces, hosts regular events and exhibitions showcasing local talent. The Fitts Park Neighborhood Center and the Columbus Center provide recreational opportunities and community programs for residents and visitors alike.

Average Home Prices - 7/10

According to Zillow data, the median home price in South Salt Lake as of 2024 is $400,000, representing a steady appreciation rate of 3.2% over the past year. While prices are slightly higher than in some other areas of Salt Lake Valley, the city's convenient location, strong rental demand, and potential for long-term appreciation make it an attractive option for investors seeking to buy properties to convert into Airbnbs.

Proximity to Work-Related Travel - 9/10

South Salt Lake is located just minutes away from downtown Salt Lake City, making it an ideal base for those traveling for work-related purposes. The city's convenient access to major highways and public transportation options ensures a quick and easy commute to the city's central business district, hospitals, and convention centers. The Salt Lake City International Airport is also just a short drive away.

X-Factor - 8/10

South Salt Lake's primary selling point is its vibrant and eclectic atmosphere, which combines urban convenience with a thriving arts and culture scene. The city's diverse population, creative energy, and commitment to community development create a unique and welcoming environment for visitors. South Salt Lake's proximity to downtown Salt Lake City and its more affordable prices and up-and-coming status make it an attractive option for Airbnb and short-term rental investors seeking a dynamic and promising market.