Overview 2011 Prepared For South Salt Lake Brandon Smith Rick Davidson
Population 23,617 23,617Households8022 Avg HH Size 2.47 Median age 28.9 Median HH Income $ 29,817 $ 29,817 Average HH Income Per capita $ 15,474 $ 15,474
Total Homes5122 Total Rentals4972 Rental %49.3% Total Acres Total Bldg Area 7,351,456 Average Lot Size0.17 Average Home Size 1,435 Average Age1959
Multifamily Housing Summary Pre-1990Post 2000 Total Rental Units Total Vacant4081 Vacancy %8.20%1% Rental %49.3%-- Average Age Average Rent 1 bedroom $ 625 $ 900 Average Rent 2 bedroom $ 750 $ 1,200 Average Rent 3 bedroom $ 890 $ 1,361
Green Living Small Lot (5-8k SF lots), small footprint In-fill vs. urban sprawl Efficiency and affordability is new focus Single Family
Higher density – Higher quality communities Transit Oriented Focus Larger communities and better amenities Lifestyle Renters Convenience To Services Employment Transportation Amenities Multi Family
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, Subsequent Avg Land Price $ Average Lot Size0.17
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
Economic Barriers East of State Street Existing homes on small lots = expensive and challenging redevelopment Redevelopment East of State occurs within infill lots and small projects Opportunities West of State Street