{"id":181539,"date":"2025-03-10T16:18:03","date_gmt":"2025-03-10T22:18:03","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=181539"},"modified":"2025-03-10T16:18:08","modified_gmt":"2025-03-10T22:18:08","slug":"utah-real-estate-could-boom","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/utah-real-estate-could-boom","title":{"rendered":"Why Utah Could Be Another Boom State in the Very Near Future"},"content":{"rendered":"\n<p><span data-preserver-spaces=\"true\">In a previous article, I made the case for <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/north-carolina-could-be-the-next-boom-state\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">why North Carolina might be the next boom state<\/span><\/a><span data-preserver-spaces=\"true\">. In an <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.youtube.com\/watch?v=5BjbjJmhLJE&amp;t=11s\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">accompanying video<\/span><\/a><span data-preserver-spaces=\"true\">, I also pointed out that Utah had the highest population growth from new births. Its natural population growth, strong economy, and geographical constraints among its key cities are the main reasons I\u2019m just as bullish on Utah (specifically, the string of <\/span><span data-preserver-spaces=\"true\">cities<\/span><span data-preserver-spaces=\"true\"> along <\/span><span data-preserver-spaces=\"true\">what\u2019s called<\/span><span data-preserver-spaces=\"true\"> the Wasatch Front).<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Utah\u2019s Population Growth<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Utah had the highest overall growth of any state from 2008-2023 (approximately 1.68% growth per year, on average).<\/span><\/p>\n\n\n<div>\n<script\ntype=\"text\/javascript\"\ndefer\nsrc=\"https:\/\/www.pewtrusts.org\/-\/media\/data-visualizations\/interactives\/2024\/fiscal50\/assets\/indicator-chart-embed.js?config-file=\/config\/POP_MAP_20240507.json\"\ncharset=\"utf-8\">\n<\/script>\n<\/div>\n\n\n\n<p><span data-preserver-spaces=\"true\">This is due to some healthy inward migration but <\/span><span data-preserver-spaces=\"true\">mostly<\/span><span data-preserver-spaces=\"true\"> because of the <\/span><span data-preserver-spaces=\"true\">large<\/span><span data-preserver-spaces=\"true\"> positive amount of \u201cnatural change\u201d (more people are simply being born in Utah).<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Why is this the case? A relatively large portion of the population (42%) identifies as members of The Church of Jesus Christ of Latter-day Saints (<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/drive.google.com\/file\/d\/15xLXLFxC4owjRvnqJoPfvxrTyCf7bF1j\/view?pli=1\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">although this number has <\/span><span data-preserver-spaces=\"true\">been steadily declining<\/span><\/a><span data-preserver-spaces=\"true\">). And historically, Mormons have larger families than the average United States household.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">While it\u2019s OK to talk about Utah as a whole, <\/span><span data-preserver-spaces=\"true\">the majority<\/span><span data-preserver-spaces=\"true\"> of the population lives along the Wasatch Front, a string of cities between the lakes and the Wasatch Mountains, such as <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets\/salt-lake-city-ut?city=Salt+Lake+City&amp;state=UT\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Salt Lake City<\/span><\/a><span data-preserver-spaces=\"true\">, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets\/provo-orem-ut?city=Provo&amp;state=UT\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Provo<\/span><\/a><span data-preserver-spaces=\"true\">, and <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets\/ogden-clearfield-ut?city=Ogden&amp;state=UT\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Ogden<\/span><\/a><span data-preserver-spaces=\"true\">. So, let\u2019s dive deeper.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">The Wasatch Front Economy<\/span><\/h2>\n\n\n<p><iframe title=\"Wasatch Front Job Growth\" aria-label=\"Interactive line chart\" id=\"datawrapper-chart-w2dw6\" src=\"https:\/\/datawrapper.dwcdn.net\/w2dw6\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"403\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Jobs continue to <\/span><span data-preserver-spaces=\"true\">be added<\/span><span data-preserver-spaces=\"true\"> in the Provo and Ogden MSAs, but Salt Lake City is the primary economic center of the region.&nbsp;<\/span><\/p>\n\n\n<p><iframe title=\"Salt Lake City, UT MSA Job Occupation Growth\" aria-label=\"Interactive line chart\" id=\"datawrapper-chart-NavuC\" src=\"https:\/\/datawrapper.dwcdn.net\/NavuC\/1\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"566\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">While logistics and utilities make up the <\/span><span data-preserver-spaces=\"true\">largest<\/span><span data-preserver-spaces=\"true\"> number of jobs, I like the growth in the \u201cProfessional and Business Services\u201d and \u201cEducation and Health Services\u201d sectors (white-collar jobs).<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Let\u2019s look at the median income for each region.<\/span><\/p>\n\n\n<p><iframe title=\"Median Income Growth by MSA\" aria-label=\"Interactive line chart\" id=\"datawrapper-chart-Pjb4F\" src=\"https:\/\/datawrapper.dwcdn.net\/Pjb4F\/2\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"395\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">People are generally paid more in Salt Lake City than in the other two MSAs. However, both Provo and Ogden saw healthy income growth in 2024. Hopefully, this trend continues because many properties have become out of reach for first-time homebuyers:<\/span><\/p>\n\n\n<p><iframe title=\"Median Price by MSA\" aria-label=\"Interactive line chart\" id=\"datawrapper-chart-19AkI\" src=\"https:\/\/datawrapper.dwcdn.net\/19AkI\/1\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"419\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Geographical Constraints<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Here\u2019s a quick, crude drawing of the buildable area between the lakes and the mountains in the region (excuse the messiness):<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1938\" height=\"1322\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/03\/image1.png\" alt=\"satellite image of Salt Lake City\" class=\"wp-image-181543\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/03\/image1.png 1938w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/03\/image1-300x205.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/03\/image1-1024x699.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/03\/image1-768x524.png 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/03\/image1-1536x1048.png 1536w\" sizes=\"auto, (max-width: 1938px) 100vw, 1938px\" \/><figcaption class=\"wp-element-caption\"><em>Courtesy of <span data-preserver-spaces=\"true\">Google Earth<\/span><\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">As you can see from the geography, if the region keeps growing in population, it will eventually run out of buildable land and will have to rely on infill development. It doesn\u2019t take much to imagine how that might affect real estate prices <\/span><span data-preserver-spaces=\"true\">over time<\/span><span data-preserver-spaces=\"true\">. Just look at any coastal California city as an example.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Final Thoughts<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">While I don\u2019t think Utah will boom the same way North Carolina will, I think the relatively high birth rate and strong economy, combined with the geographical constraints of the region, will push property values up faster than its other pandemic boom-town counterparts like <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Austin-Round%20Rock-Georgetown%2C%20TX\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Austin, Texas<\/span><\/a><span data-preserver-spaces=\"true\">, or Raleigh, North Carolina.&nbsp;<\/span><\/p>\n\n\n\n<p><em><span data-preserver-spaces=\"true\">(I could also make a similar argument for Boise, Idaho. In fact, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets\/boise-city-id?city=Boise&amp;state=ID\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Boise<\/span><\/a><span data-preserver-spaces=\"true\">, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets\/salt-lake-city-ut?city=Salt+Lake+City&amp;state=UT\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Salt Lake City<\/span><\/a><span data-preserver-spaces=\"true\">, and <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets\/raleigh-cary-nc?city=Raleigh&amp;state=NC\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Raleigh<\/span><\/a><span data-preserver-spaces=\"true\"> are my top three metros, and I predict they will see the highest appreciation in the next 10 years.)<\/span><\/em><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Do you live in the region? Do you agree or disagree? Let me know in the comments. I haven\u2019t spent too much time in the <\/span><span data-preserver-spaces=\"true\">region<\/span><span data-preserver-spaces=\"true\">, and I\u2019d love anyone with boots-on-the-ground experience to add their thoughts.<\/span><\/p>\n\n\n\n<div id=\"hero-block_799eb947c8465bd54db3e4401201d954\" class=\"first:mt-0 hero-block py-4  alignfull   has-background has-slate-50-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\"gap-10 lg:gap-20 flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 lg:w-1\/2 \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Find the Hottest Deals of 2025!<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:18px\">Uncover prime deals in today's market with the brand new Deal Finder created just for investors like you! Snag great deals FAST with custom buy boxes, comprehensive property insights, and property projections.<\/p>\n\n\n\n<div id=button-custom-event-block_e94925376213560a30ae945709c62c01 class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/deals\" x-on:click=\"window.analytics.track(&#039;Blog Block | Deal Finder&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/utah-real-estate-could-boom&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-gold-background-color has-text-color has-white-color\" target=\"_blank\">Snag a Deal<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\"lg:w-1\/2 first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/07\/1-6-1.png\" alt=\"\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In a previous article, I made the case for why North Carolina might be the next boom state. In an accompanying video, I also pointed out that Utah had the [&hellip;]<\/p>\n","protected":false},"author":613753,"featured_media":181544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7364],"tags":[],"class_list":["post-181539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-markets"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/181539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=181539"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/181539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/181544"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=181539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=181539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=181539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}