ZIP Code · UT

ZIP 84116

Part of Salt Lake City, UT

Pop. 38,625·Salt Lake County·78th most expensive ZIP in Utah

Median rent (all units)

$1,250/mo

Year-over-Year

-0.6%

Month-over-Month

-0.3%

vs US Median

-$682

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 84116 · $1,250

More affordable than 89% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,120

1 BR

$1,310

2 BR

$1,580

3 BR

$2,120

4 BR+

$2,410

Research median

$1,580/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 84116 usually run 1.2% below trend in January and 0.9% above it in July, about $26 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 84116 is 2.6% below its high of $1,284 in August 2022, at $1,250 as of September 2026.

Past year vs. the rest of Utah

Rent in ZIP 84116 changed -0.6% over the year to September 2026. Across the 66 Utah ZIP codes Zillow tracks, the typical change was +1.3%.

Recent direction

Rent has fallen 3 months in a row, and rose in 4 of the last 12 months.

What a typical income covers

30% of the median household income ($66,751) is $1,669 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,580); a 3-bedroom is $2,120.

Rank in Salt Lake City

1st cheapest of 9 ZIP codes in Salt Lake City.

From Zillow's monthly rent index (ZORI) for ZIP 84116. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$15,000/yr

At $1,250/mo median

Location

CitySalt Lake City

StateUT

CountySalt Lake County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (-0.6% YoY, -0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 84116 (Salt Lake City, UT) is roughly split between renters and owners, 25% of residents hold a bachelor's degree or higher.

Population

38,625

Median income

$66,751

Median age

32.4

Renters

49.1%

Age distribution

24%

30%

26.4%

Under 1824%

18–3430%

35–5426.4%

55–649.4%

65+10.1%

Gender

53.2%

46.8%

Male53.2%

Female46.8%

Race & ethnicity

42.2%

43.2%

White42.2%

Black3%

Hispanic43.2%

Asian6.9%

Other4.7%

Education (25+)

16.3%

30.2%

28.5%

25%

No HS diploma16.3%

HS diploma30.2%

Some college28.5%

Bachelor's+25%

Housing tenure

50.9%

49.1%

Owner50.9%

Renter49.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 84116 in Salt Lake City, UT has changed in 5 years

Rent

$988 → $1,250

up 26.5%

Income

$56,934 → $66,751

up 17.2%

Population

35,111 → 38,625

up 10.0%

Renter share

42.1% → 49.1%

+7.0 pts

Bachelor's+

24% → 25%

+1.0 pts

Median age

30.7 → 32.4

+1.7 yrs

Rent in ZIP 84116 in Salt Lake City, UT has increased 26.5% since 2021, going from about $988 per month to roughly $1,250 today. Local incomes tracked alongside that move, going from a median of $56,934 in 2021 to $66,751 more recently. Rent outpaced income growth by roughly 9.3 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 35,111 to 38,625 between 2021 and 2024, a 10.0% change. About 49.1% of households rent today, against 42.1% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 84116 in Salt Lake City, UT market of 2021.

Community

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About renting in ZIP 84116

Last updated: October 17, 2026

ZIP code 84116 covers Salt Lake City, UT. The median rent here is $1,250/mo as of October 2026. A 1-bedroom rents for a median of $1,310/mo. A 2-bedroom rents for a median of $1,580/mo.

At 22% of local median household income ($66,751/yr), ZIP 84116 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 84116?

To keep rent at or below 30% of gross income, you would need to earn at least $50,000/year (about $24/hour full-time) to afford the median rent of $1,250/mo in ZIP 84116. The local median household income is $66,751/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 84116?

Rent in ZIP 84116 has fallen 0.6% over the past year as of September 2026. It sits 2.6% below its high of $1,284 in August 2022.

When is the cheapest time to rent in ZIP 84116?

Asking rents in ZIP 84116 are usually lowest in January, about 1.2% below their yearly trend, and highest in July, about 0.9% above it. At today's median that is a gap of roughly $26 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 84116 compare to other ZIPs in Utah?

ZIP 84116 is one of the more affordable among Utah ZIP codes for rent, ranking #78 of 79 at $1,250/mo. Over the year to September 2026, rent in ZIP 84116 changed -0.6%, against a typical +1.3% across the 66 Utah ZIP codes Zillow tracks.