overview 2011 prepared for south salt lake brandon smith rick davidson...
TRANSCRIPT
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South Salt Lake HousingOverview 2011
Prepared For South Salt Lake
Brandon Smith Rick [email protected] [email protected]
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Demographic Snapshot
Population
23,617
Households 8022
Avg HH Size 2.47
Median age 28.9
Median HH Income $ 29,817
Average HH Income
Per capita $ 15,474
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Existing Housing SnapshotTotal Homes 5122Total Rentals 4972Rental % 49.3%Total Acres 868.22
Total Bldg Area 7,351,456
Average Lot Size 0.17
Average Home Size
1,435 Average Age 1959
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Multifamily Housing Snapshot
Multifamily Housing Summary
Pre-1990 Post 2000
Total Rental Units 4972 100
Total Vacant 408 1
Vacancy % 8.20% 1%
Rental % 49.3% --
Average Age 1964 2010
Average Rent 1 bedroom $ 625 $ 900
Average Rent 2 bedroom $ 750 $ 1,200
Average Rent 3 bedroom $ 890 $ 1,361
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South Salt Lake Residential Construction
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110
20
40
60
80
100
120
Single-Family Homes Duplexes-Twin Homes Condominiums Apartments
Permit History 1994 to present
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Future of Housing
Green Living Small Lot (5-8k SF lots),
small footprint In-fill vs. urban sprawl Efficiency and
affordability is new focus
Single Family
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Future of Housing
Higher density – Higher quality communities
Transit Oriented Focus Larger communities
and better amenities Lifestyle Renters Convenience
To Services Employment Transportation Amenities
Multi Family
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East Side Residential Block
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 $ 92,383.86
Subsequent Avg Land Price $ 12.51
Average Lot Size 0.17
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West Side Industrial Block
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