Salt Lake home values
Salt Lake at a glance
- Zillow’s Home Value Index puts the typical home at $511,600 (Aug 2026), −2.5% over the past 12 months and +1% over five years.
- The Census median home value is $653,400 — 29% below Honolulu overall and 92% above the U.S. median.
- Median household income is $99,933, so homes cost 6.5× local income.
- Median rent is $3,185/month (a 5.8% gross rental yield).
- Its ZIP ranks 8th of 9 Honolulu ZIP codes by home value.
- These figures are for ZIP 96818, which Salt Lake shares with Moanalua, Aliamanu, Foster Village.
Salt Lake home value trend
Over the 12 months to Aug 2026, typical home values in Salt Lake fell 2.5%, to about $511,600. That is 5.0 percentage points slower than Honolulu (+2.5%). Values are 9.1% below their peak of $562,600 in Aug 2022. Over five years the typical home gained $3,100 in value (+1%).
Year-by-year values
| Month | Typical value | Change vs year before |
|---|---|---|
| Aug 2026 | $511,600 | −2.5% |
| Aug 2025 | $524,800 | −3.5% |
| Aug 2024 | $543,800 | −1.3% |
| Aug 2023 | $551,100 | −2.0% |
| Aug 2022 | $562,600 | +10.6% |
| Aug 2021 | $508,500 | +6.8% |
| Aug 2020 | $476,000 | −1.9% |
| Aug 2019 | $485,400 | −1.1% |
| Aug 2018 | $490,800 | +3.4% |
| Aug 2017 | $474,600 | +6.6% |
| Aug 2016 | $445,400 | — |
Source: Zillow Home Value Index (ZHVI), typical value of mid-tier homes, smoothed & seasonally adjusted. Areas with several ZIPs: population-weighted.
Salt Lake home value score
from local value, rent & income
In ZIP 96818, rents are moderate relative to prices, and homes are expensive against local incomes.
How the Value Score is built
Computed figures
A transparent value snapshot — computed from U.S. Census ACS (2023) for this ZIP: home value, gross rent and household income. It is not a market-timing or appreciation forecast.
Salt Lake vs Honolulu, Hawaii and the U.S.
| Salt Lake | Honolulu | Hawaii | U.S. | |
|---|---|---|---|---|
| Typical value (Zillow, Aug 2026) | $511,600 | $898,600 | $898,600 | — |
| 1-year change | −2.5% | +2.5% | +2.5% | — |
| 5-year change | +1% | +10% | +10% | — |
| Median home value (Census) | $653,400 | $921,200 | $921,200 | $340,200 |
| Median household income | $99,933 | $101,100 | $101,100 | $78,500 |
| Median gross rent | $3,185/mo | $2,141/mo | $2,141/mo | $1,406/mo |
| Price-to-income ratio | 6.5× | 9.1× | 9.1× | 4.3× |
| Gross rental yield | 5.8% | 2.8% | 2.8% | 5.0% |
| Rent as share of income | 38% | 25% | 25% | 21% |
| Mortgage payment* | $3,304/mo | $4,658/mo | $4,658/mo | $1,720/mo |
Census figures: U.S. Census Bureau ACS 5-year estimates; areas spanning several ZIPs use population-weighted averages of ZIP medians, and city/state columns cover the ZIPs of the places listed on this site. Zillow: ZHVI. *Principal & interest on the Census median value, 20% down, 6.5% fixed, 30 years.
What it costs to buy a home in Salt Lake
At today’s typical value of $511,600 (Zillow, Aug 2026), a buyer putting 20% down ($102,320) and financing the rest at 6.5% over 30 years would pay about $2,587 a month in principal and interest — 31% of the median household income here. That is above the common 28% guideline but under 36%, so budgets are stretched but workable for a median earner. The median rent is $3,185/month, so owning is roughly 19% cheaper per month than renting, even before counting equity.
Estimate only: excludes property tax, insurance, HOA and PMI, which vary by property. Incomes and rents are the latest Census (ACS 2023) figures. Run your own numbers in the estimator below.
What this means for buyers, sellers and investors in Salt Lake
Buyers
At 6.5× local income, this is a premium market; expect competition for the few homes at the lower end of the range. Prices have eased 2.5% over the past year, which gives buyers more room to negotiate.
Sellers
Values are down 2.5% on the year, so price to today’s market rather than last year’s peak — and get a home-specific estimate: condition and size move the number more than the area average.
Investors
A gross rental yield of 5.8% is middling — returns depend on buying below the typical price or adding value.
About Salt Lake
Salt Lake, also known as Āliamanu after a nearby crater, or Āliapa‘akai, is a neighborhood of Honolulu, Hawaii on the island of O‘ahu. The Salt Lake community was developed in the 1960s during a construction boom, providing residents with an expansive view of downtown Honolulu and the sugarcane plantations of the central plain of O‘ahu. It is a community of high-rise condominiums, mid-rise town-dwellings, and houses snaking around the remnants of a now freshwater lake.
Source: en.wikipedia.org (CC BY-SA)
Other neighborhoods in Honolulu
| Name | Home value | 1-yr | Income | Rent | Price / income |
|---|---|---|---|---|---|
| Aina Haina ZIP 96821 · shared | $1.46M | +4.8% | $174K | $2,946 | 8.4× |
| Ala Moana | $707K | +3.1% | $77K | $1,770 | 9.1× |
| Aliamanu ZIP 96818 · shared | $653K | −2.5% | $100K | $3,185 | 6.5× |
| Chinatown ZIP 96817 · shared | $930K | +3.7% | $75K | $1,419 | 12.5× |
| Diamond Head ZIP 96816 · shared | $1.12M | +5.2% | $115K | $1,879 | 9.8× |
| Downtown ZIP 96813 · shared | $804K | +2.6% | $88K | $1,821 | 9.2× |
| Foster Village ZIP 96818 · shared | $653K | −2.5% | $100K | $3,185 | 6.5× |
| Hawaii Kai | $1.07M | +1.5% | $150K | $3,416 | 7.1× |
| Kahala ZIP 96816 · shared | $1.12M | +5.2% | $115K | $1,879 | 9.8× |
| Kaimuki ZIP 96816 · shared | $1.12M | +5.2% | $115K | $1,879 | 9.8× |
| Kaka'ako ZIP 96813 · shared | $804K | +2.6% | $88K | $1,821 | 9.2× |
| Kalihi city data | $964K | +6.0% | $96K | $1,789 | 10.0× |
| Kapahulu ZIP 96816 · shared | $1.12M | +5.2% | $115K | $1,879 | 9.8× |
| Makiki ZIP 96822 · shared | $985K | +1.4% | $96K | $1,736 | 10.3× |
| Manoa ZIP 96822 · shared | $985K | +1.4% | $96K | $1,736 | 10.3× |
| Mapunapuna city data | $964K | +6.0% | $96K | $1,789 | 10.0× |
| McCully-Mo'ili'ili city data | $964K | +6.0% | $96K | $1,789 | 10.0× |
| Moanalua ZIP 96818 · shared | $653K | −2.5% | $100K | $3,185 | 6.5× |
| Niu Valley ZIP 96821 · shared | $1.46M | +4.8% | $174K | $2,946 | 8.4× |
| Nu'uanu ZIP 96817 · shared | $930K | +3.7% | $75K | $1,419 | 12.5× |
| Palolo ZIP 96816 · shared | $1.12M | +5.2% | $115K | $1,879 | 9.8× |
| Salt Lake ZIP 96818 · shared | $653K | −2.5% | $100K | $3,185 | 6.5× |
| Waikiki | $628K | −0.1% | $75K | $1,903 | 8.4× |
Home value, income and rent: Census ACS medians; 1-yr: Zillow ZHVI change over 12 months. Tap a column heading to sort.
Salt Lake real estate FAQ
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Estimates are informational only and are not an appraisal.
About this data
Data last updated: September 2026.
Current values and trends use the Zillow Home Value Index (ZHVI) — the typical value of mid-tier homes, smoothed and seasonally adjusted — through Aug 2026. It is refreshed monthly.
Median values, incomes, rents, housing stock and commutes come from the U.S. Census Bureau’s American Community Survey (ACS) 5-year estimates at ZIP Code Tabulation Area level. City and state figures are population-weighted averages of their ZIPs.
The Value Score (0–10) blends gross rental yield and price-to-income affordability. It is a value snapshot, not a forecast.
Mortgage figures assume 20% down and a 6.5% fixed 30-year loan, principal and interest only.
These are area-level statistics, not an appraisal of any individual property, and not financial advice.
Sources: U.S. Census ACS · Zillow ZHVI.