Investing in Utah Real Estate

Investing in Utah real estate looks different at 7% rates than it did a few years ago. The deals still exist, but they’re more likely to be off-market, permitted, or built on better terms instead of a better price. I’m Kirsten Horning, and I spent 10 years on Wall Street before becoming a Realtor. This page is where I keep everything I know about finding and underwriting investment property along the Wasatch Front: the strategies that pencil right now, where investors are looking, and the deals I’m working on each week.

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Why investors keep buying in Utah

  • Population and job growth. Utah has been one of the fastest-growing states in the country for more than a decade, which keeps steady demand under rentals.
  • Year-round short-term rental demand. Ski season, national parks and summer in the mountains give well-located rentals two strong seasons instead of one.
  • Room to negotiate right now. Homes are sitting longer than they did a few years ago, and sellers are more open to price drops, credits and seller financing.

Utah real estate investing strategies that pencil at today’s rates

1. House hacking a duplex or a home with an ADU

Living in one unit and renting the other is still the easiest way into investing in Utah. Owner-occupied financing usually means less down and a better rate than an investment loan, and the rent from the second unit covers part of the mortgage. If you’re buying your first place, the Utah first-time homebuyer programs may help with the down payment.

2. Permitted short-term rentals

In a Utah short-term rental, the permit is often worth as much as the property. Many cities along the Wasatch Front limit or restrict short-term rentals, so a home with permits in place and real booking history is rare. Here’s a live example: a permitted Airbnb duplex for sale under Mount Olympus. Always confirm permit status and transfer rules with the city or county before you buy.

3. Long-term rentals

Long-term rentals are the steady option. The key is buying where rents support the payment, which is why I track rents across the state. See the latest numbers in Utah’s Rent Report H1 2026.

4. Seller financing and creative terms

When bank rates are above 7%, the opportunity is often in the terms, not the price. A seller who carries the note at a lower rate can turn a deal that doesn’t work with a conventional loan into one that cash flows. I look for sellers who own free and clear and are open to it.

5. New construction incentives

Builders are using rate buydowns and closing cost credits to move inventory, and those incentives can make new construction a cleaner rental than a resale. See the current list in New Construction Incentives in the Salt Lake Valley.

Wall Street underwriting for Utah investors

Before real estate, I spent 10 years on Wall Street. Now I bring that same discipline to Utah investors. I underwrite every property the way an institutional investor would, so you know exactly what you’re buying before you make an offer:

  • Real rent or booking history, not projections
  • Every cost in the numbers: taxes, insurance, HOA, cleaning and management
  • Cash flow at today’s interest rate, not a refinance you’re hoping for
  • Short-term rental permits and zoning, confirmed with the city or county
  • A clear offer price and terms before you fall in love with the house

Where investors are looking in Utah

Each area guide covers neighborhoods, prices and what to know before you buy:

Latest Utah investment deals and market updates

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Ready to talk about a specific property or strategy? Contact me and tell me what you’re looking for.

Investing in Utah real estate: FAQ

Is Utah a good place to invest in real estate?

For many investors, yes. Strong population and job growth support rental demand, and the mountains bring year-round visitors. The catch is price: Utah homes are expensive relative to rents, so deals have to be underwritten carefully at today’s rates.

Are short-term rentals allowed in Salt Lake County?

It depends on the city and the zoning. Many cities along the Wasatch Front limit or restrict short-term rentals, which is why properties with permits already in place are valuable. Confirm the rules with the city or county before you buy.

What is house hacking?

House hacking means living in one unit of a duplex, or in a home with an ADU, and renting the other unit. You get owner-occupied financing, and the rent offsets your mortgage.

How do I find off-market investment property in Utah?

Off-market deals usually come through agents and investor networks rather than Zillow or the MLS. The Utah Deal Sheet sends off-market Utah deals to subscribers every week, free.

Information deemed reliable but not guaranteed. This page is for general information and is not tax, legal or financial advice. Talk to a qualified professional before you invest.

Kirsten Horning | The Perry Group | Real Broker, LLC