Salt Lake County, Utah: commercial real estate data.
Salt Lake County, Utah has a population of 1,196,523 across 742 square miles, up 2.6 percent since the 2020 census base. County output reached $153.85 bn in 2024, 35,732 establishments operate here, and the SBA record carries 2,414 7(a) approvals worth $1.38 bn.
123 sourced county values · tier FULL · 11 sections
Salt Lake County
How many people live in Salt Lake County
- Population1,196,523
- Households426,245
- Average household size2.81
- Median household income$97,494
- Median age34.0
- Median gross rent$1,592 per month
- Median owner-occupied home value$525,700
- Home value to household income5.4 times
- Annual rent as a share of median income19.6 percent
- Adults 25 and over with a bachelor degree or higher39.4 percent
- Adults 25 and over with a graduate degree14.6 percent
- Adults 25 and over775,244
- Population under 18302,331
- Share under 1825.3 percent
- Population 65 and over142,165
- Share 65 and over11.9 percent
- Working age population, 18 to 64752,027
- Civilian labor force670,900
- Unemployment rate3.8 percent
- Labor force participation, adults 18 and over75.0 percent
- Rank by population among Utah counties1st of 29
- Rank by population among US county-equivalents37th
Salt Lake County is the 1st largest of 29 Utah counties by population. A median home costs 5.4 times median household income, which is a stretched ownership market and usually shows up as rental demand. Residents under 18 outnumber those 65 and over, at 25.3 percent against 11.9 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Salt Lake County
Is Salt Lake County growing
- Population change since the 2020 census base2.62 percent
- Census 2020 base population1,185,234
- Births, 202414,614
- Deaths, 20247,819
- Natural change, 20246,795
- Net domestic migration, 2024-10,002
- Net international migration, 202418,992
- Total net migration, 20248,990
- Cumulative net domestic migration, 2021 to 2024-42,850
- Rank by growth among US county-equivalents978th
The county has grown 2.62 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Salt Lake County
Where people moving to Salt Lake County come from
- Tax returns filed by households arriving27,930
- People arriving, from those returns45,049
- Adjusted gross income arriving$2.07 bn
- Net adjusted gross income movement$0
- Average income of an arriving household$74,026
- Largest single originSalt Lake County Non-migrants (439,062 households)
- Largest single destination (439,062 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Salt Lake County Non-migrants | 439,062 | 910,668 | $48.03 bn |
| Other flows - Different State | 4,893 | 7,594 | $311.7 m |
| Utah County | 4,477 | 7,612 | $288.8 m |
| Davis County | 2,341 | 3,834 | $150.4 m |
| Other flows - South | 1,837 | 2,901 | $117.4 m |
| Other flows - West | 1,245 | 2,033 | $80.3 m |
| Other flows - Midwest | 1,135 | 1,674 | $65.7 m |
| Weber County | 918 | 1,471 | $51.1 m |
The largest single source of arrivals is Salt Lake County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Salt Lake County
What the Salt Lake County economy runs on
- County GDP, 2024$153.85 bn
- County GDP, 2023$146.46 bn
- GDP change, 2023 to 20245.0 percent
- GDP change over five years43.8 percent
- Rank by GDP among Utah counties1st
- Rank by GDP among US county-equivalents28th
- GDP per resident$128,578
Output grew 5.0 percent in the latest year and 43.8 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Salt Lake County
Who employs people in Salt Lake County
- Covered employment, annual average796,203
- Establishments reporting67,066
- Average annual pay$77,495
- Average weekly wage$1,490
- Sector 62, employment76,844
- Sector 62, average annual pay$64,501
- Sector 54, employment75,877
- Sector 54, average annual pay$119,573
- Sector 44-45, employment72,710
- Sector 44-45, average annual pay$49,848
- Sector 31-33, employment60,293
- Sector 31-33, average annual pay$80,383
- Sector 72, employment57,213
- Sector 23, employment54,838
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 76,844 | 5,526 | $64,501 |
| Sector 54 | 75,877 | 16,162 | $119,573 |
| Sector 44-45 | 72,710 | 4,390 | $49,848 |
| Sector 31-33 | 60,293 | 2,943 | $80,383 |
| Sector 72 | 57,213 | 2,812 | $28,147 |
| Sector 23 | 54,838 | 5,494 | $78,570 |
| Sector 52 | 51,138 | 4,404 | $111,923 |
| Sector 56 | 49,801 | 5,054 | $62,409 |
The largest sector is the biggest private employer group at 76,844 jobs, 9.7 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Salt Lake County
What businesses operate in Salt Lake County
- Establishments, all industries35,732
- Employment at those establishments693,721
- Annual payroll$48.96 bn
- Establishments per 1,000 residents29.9
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Salt Lake County
What is being built in Salt Lake County
- Housing units authorised by permit, 20244,550
- Declared construction value permitted$1.29 bn
- Single family units authorised2,848
- Multifamily units authorised1,702
- Multifamily share of units37.4 percent
- Average declared value per unit$282,463
- Units authorised per 1,000 households10.7
Multifamily is 37.4 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Salt Lake County
How much SBA lending happens in Salt Lake County
- 7(a) approvals recorded2,414
- 7(a) gross approval dollars$1.38 bn
- Average 7(a) approval$573,030
- Median 7(a) approval$225,000
- 10th percentile approval$25,000
- 90th percentile approval$1,520,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)33,921
- Jobs per approval14.1
- Distinct 7(a) lenders active120
- Distinct industries receiving approvals399
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer14.0 percent
- Loans on real estate terms339
- Loans on working capital terms, 120 months or shorter1,948
- Franchise loans277
- Franchise share of approvals11.5 percent
- Leading industry by approval countFull-Service Restaurants (79)
- Most active lenderMountain America FCU (327)
- 504 approvals recorded1,376
- 504 gross approval dollars$1.13 bn
- Average 504 approval$819,435
- Median 504 approval$540,000
- Distinct CDCs active9
- 504 jobs per approval11.4
- 504 jobs per million dollars approved13.9
- Most active CDCMountain West Small Business Finance (1,033)
- 7(a) share of SBA approvals63.7 percent
- Combined SBA approval dollars$2.51 bn
The average approval of $573,030 sits well above the median of $225,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 14.0 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Salt Lake County
Do SBA loans in Salt Lake County get paid back
- Loans with a final outcome recorded529
- Paid in full489
- Charged off40
- Charge off rate on resolved loans7.6 percent
- Status: Paid in full489
- Status: Cancelled262
- Status: Exempt from disclosure1,505
- Status: Charged off40
- Status: Committed, not yet disbursed118
| NAICS | Industry | Resolved loans | Charged off | Charge off rate |
|---|---|---|---|---|
| 713940 | Fitness and Recreational Sports Centers | 14 | 1 | 7.1% |
| 238990 | All Other Specialty Trade Contractors | 14 | 2 | 14.3% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 13 | 1 | 7.7% |
| 722511 | Full-Service Restaurants | 13 | 1 | 7.7% |
| 722513 | Limited-Service Restaurants | 13 | 2 | 15.4% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 10 | 0 | 0.0% |
| 561730 | Landscaping Services | 10 | 0 | 0.0% |
Of the 529 loans that have reached a final outcome, 7.6 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong. Among industries with at least ten resolved loans, Limited-Service Restaurants carries the highest charge off rate at 15.4 percent.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Salt Lake County
Which parts of Salt Lake County get the lending
- Places in the county with recorded lending38
- Salt Lake City, approvals858
- Sandy, approvals239
- WEST JORDAN, approvals201
- SOUTH JORDAN, approvals190
- DRAPER, approvals142
- WEST VALLEY CITY, approvals119
| Place | Approvals | Gross approval dollars |
|---|---|---|
| Salt Lake City | 858 | $540,589,000 |
| Sandy | 239 | $109,418,200 |
| WEST JORDAN | 201 | $97,247,600 |
| SOUTH JORDAN | 190 | $114,386,900 |
| DRAPER | 142 | $118,039,600 |
| WEST VALLEY CITY | 119 | $87,743,800 |
| MIDVALE | 118 | $51,498,900 |
| RIVERTON | 93 | $40,385,000 |
Salt Lake City accounts for 858 approvals against 239 in Sandy. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Salt Lake County
How big is Salt Lake County
- Land area742 sq mi
- Rank by land area among Utah counties25th of 29
- Width, east to west37.3 mi
- Height, north to south34.8 mi
- Geographies sharing a boundary6
- Residents per square mile of land1,613
- Establishments per square mile48.16
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Salt Lake County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Salt Lake County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population1,196,523
- Households426,245
- Average household size2.81
- Median household income$97,494
- Median age34.0
Common questions
Salt Lake County questions, answered from the record.
How many people live in Salt Lake County, Utah?
1,196,523, in 426,245 households, ranking 1st of 29 Utah counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Salt Lake County growing?
The population has grown 2.62 percent since the 2020 census base. In 2024 there were 14,614 births against 7,819 deaths, with net migration of 8,990. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Salt Lake County?
$97,494. The median owner-occupied home is valued at $525,700, which is 5.4 times income, and median gross rent is $1,592 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Salt Lake County?
35,732 establishments, employing 693,721 people with an annual payroll of $48.96 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Salt Lake County?
Average annual pay is $77,495, or $1,490 a week, across 796,203 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Salt Lake County?
2,414 7(a) approvals totalling $1.38 bn since FY2020, across 120 lenders, with a median approval of $225,000, plus 1,376 504 approvals worth $1.13 bn. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Salt Lake County get paid back?
Of the 529 loans that have reached a final outcome, 489 were paid in full and 40 charged off, a charge off rate of 7.6 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Salt Lake County?
4,550 housing units were authorised by permit in 2024, with a declared construction value of $1.29 bn. Multifamily was 37.4 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Salt Lake County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Salt Lake County come from?
The largest single origin is Salt Lake County Non-migrants, with 439,062 households. Arriving households report an average income of $74,026 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Salt Lake County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Salt Lake County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.