Moving to Salt Lake City, and Staying: Cost of Living, Housing Trends, and Resources

fact, the population had grown by 2.1% between 2023 and 2024 and continues to be on the rise. Known for its proximity to world-class skiing, hiking, and national parks, it also boasts a thriving job market fueled by the tech-heavy “Silicon Slopes.” But this growth comes at a price. Rising housing costs, higher interest rates, and limited inventory have reshaped the way residents think about moving, or, not moving. Many are choosing to renovate their existing homes instead, and turn their current SLC dwelling into their dream home.

The Housing Market at a Glance

Salt Lake City’s housing market has been one of the hottest in the nation.

• By mid-2025, SLC housing prices hovered around $595,000, still far above the national average for median home prices.
  
  
• Homes in the metro sell in roughly 35 days, often with multiple offers, reflecting how limited the supply remains.
  
  
• Nationally, Salt Lake City is projected to remain among the top 10 hottest real estate markets in 2025. (axios.com)
  
  

For residents, this means buying a new home is increasingly out of reach. With mortgage rates still much higher than just a few years ago, many are “locked in” to their current low-rate mortgages and opting to remodel rather than relocate.

Neighborhood Housing Trends

If you have the means to relocate, moving to SLC offers up a number of different neighborhoods that home buyers can thrive in. Salt Lake City’s neighborhoods offer a mix of price points and lifestyles, though affordability is a challenge nearly everywhere.

• Central City – Median home price around $423,600, one of the more affordable options, popular with younger buyers and renters.
  
  
• East Central – Median home price $507,200; close to downtown with a blend of historic homes and mid-sized apartments.
  
  
• The Avenues & Capitol Hill – Median price $543,700; historic architecture and city views make this one of the most desirable and competitive areas.
  
  
• Downtown – Around $539,200; highly walkable, but with dense living and premium pricing.
  
  
• Rose Park & Fairpark – $412K–$449K; among the most budget-friendly areas, attracting buyers priced out of central neighborhoods.
  
  

These trends highlight why many residents are choosing to stay where they are and improve the homes they already own. Renovations—whether adding a basement apartment, expanding a kitchen, or updating older homes—are increasingly common.

Why Residents Are Staying Put

The decision to renovate instead of move comes down to a few powerful economic realities:

1. High Interest Rates – Homeowners who bought when rates were around 3% would face double or triple the monthly payment if they sold and bought again at today’s higher rates.
   
   
2. Low Inventory – Even if they wanted to move, there simply aren’t enough homes available in most price ranges.
   
   
3. Equity Preservation – Many residents have built up significant equity but are hesitant to risk losing it in a volatile market.
   
   
4. Community Ties – Established neighborhoods, schools, and proximity to the outdoors make staying put more appealing than starting over elsewhere.
   
   

STOR-N-LOCK: Mobility & Renovation Lifeline in Salt Lake City

Instead of moving in today’s market—where high mortgage interest rates and rising housing prices make buying a new home less affordable—many Salt Lake City residents are choosing to stay put and renovate their existing homes. Stor-N-Lock’s local facilities play a critical role in this process by giving homeowners a secure place to store furniture, appliances, and personal belongings during upgrades.

Whether it’s a kitchen remodel, finishing a basement, or adding more living space to accommodate a growing family, Stor-N-Lock helps residents improve their homes without the stress and expense of relocating.

STOR-N-LOCK Salt Lake City Locations

 Beck Street (Downtown Salt Lake City)

• Address: 1060 N Beck St, Salt Lake City, UT 84103
  
  
• Unit sizes: 25 to 200 sq. ft.
  
  
• Pricing: ~$74 to $317/month, depending on size and features
  
  
• Features: Drive-up access, climate-controlled units, electronic gate entry, 24/7 surveillance, and packing supplies available on-site.
  
  
• Best For: Downtown renters and homeowners who need short-term storage during moves or safe space during historic home renovations nearby.
  
  

West Valley City (South Redwood Road)

• Address: 3410 S Redwood Rd, West Valley City, UT 84119
  
  
• Unit Sizes & Pricing:
  
  
• Small lockers and 5×5 units starting around $38/month (with promotional rates occasionally as low as $12/month).
  
  
• Medium units such as 10×10 or 10×15, perfect for storing furniture, appliances, or belongings during home renovations.
  
  
• Large units like 10×20, 10×25, and 10×30, ideal for whole-house storage or vehicle/boat parking.
  
  
• Features: Drive-up access, indoor and ground-level units, electronic gate with PIN code access, 24/7 digital surveillance, wide drive aisles for moving trucks, fenced and well-lit property, and packing supplies available on-site.
  
  
• Best For: West Valley homeowners and renters who are renovating instead of moving. With options ranging from small closet-sized units to full garage-sized spaces, this location is perfect for storing everything from seasonal gear to the entire contents of a home during upgrades.

Taylorsville

• Address: 3990 S 3275 W, Taylorsville, UT 84129
  
  
• Unit sizes: 50 to 300 sq. ft.
  
  
• Pricing: Typically ~$90 to $250/month
  
  
• Features: Drive-up access, secure gated entry, and wide driveways for moving trucks.
  
  
• Best For: Residents west of I-15 who need affordable, accessible storage while updating or expanding their homes.
  
  

How STOR-N-LOCK Supports Homeowners

• During Renovations
  Many residents are choosing renovations over relocations. STOR-N-LOCK offers clean, secure units to store furniture, appliances, or entire room contents while projects are underway.
  
  
• During Moves
  For those who do move, month-to-month leasing provides flexibility—ideal for staggered move-ins or when waiting for a new home to be ready.
  
  
• For Everyday Overflow
  From skis and snowboards to family heirlooms, STOR-N-LOCK allows residents to declutter and reclaim living space without parting with the items that matter most.
  
  

Lifestyle in Salt Lake City

Even with rising costs, moving to Salt Lake City remains attractive for many reasons. Salt Lake City offers a lifestyle that blends urban convenience with easy access to nature. Within minutes, residents can reach world-class ski resorts, scenic hiking trails, and mountain biking paths that define Utah’s outdoor reputation. This proximity to recreation makes the city a haven for adventure seekers while still offering the amenities of a metropolitan hub.

Beyond the outdoors, Salt Lake City continues to grow as a place to live and work. The job market is thriving, with tech, healthcare, and finance drawing professionals from across the country. At the same time, the city’s cultural diversity is expanding, with new restaurants, music festivals, and arts districts enriching daily life. Families also find plenty of reasons to stay, from quality schools and community parks to family-friendly suburban neighborhoods like Daybreak and South Jordan that provide balance between city living and open space.

Adapting to a Changing Market

Salt Lake City’s housing story is one of high demand, limited supply, and shifting homeowner strategies. Instead of moving, many are investing in the homes they already own. 

STOR-N-LOCK Self Storage in Utah has become an essential partner in this trend providing secure, flexible storage that makes renovations, decluttering, and even staged moves more manageable.

With facilities in Beck Street, Cottonwood Heights, and Taylorsville, STOR-N-LOCK gives Salt Lake City residents the tools they need to stay put, improve their homes, and continue enjoying all that this unique city has to offer.