24%
Mashmeter
Dynamic market opportunity score
Cash on Cash Return
0.25%
Traditional
1%
Airbnb
Cap Rate
0.25%
Traditional
0.99%
Airbnb
Park City Real Estate Market Performance
Park City, UTHomes For Sale
129
Average Rental Income
$3,308
Traditional
$5,224
Airbnb
Investment Properties
64
Traditional
2,234
Airbnb
Occupancy Rate
95%
Traditional
36%
Airbnb
Optimal StrategyAirbnb
Discover Park CityPark City, renowned for its scenic beauty and vibrant community, stands out as a promising destination for real estate investors. This picturesque town, nestled in the mountains of Utah, offers a unique blend of luxury living and outdoor adventure, making it highly attractive in the housing market.
Recent trends in the Park City housing market show a steady increase in property values, reflecting its growing popularity. In the last year alone, the average property price in Park City rose by 8.5%, showcasing the area's robust investment potential. Rental yields are equally impressive, with average returns outperforming many other regions in the U.S.
For investors, Park City represents not just a chance to own a piece of serene mountain life, but also an opportunity for substantial financial growth. The market's resilience, even in fluctuating economic conditions, adds a layer of security to investments. With a diverse range of properties, from luxurious ski-in/ski-out homes to quaint downtown apartments, the Park City housing market caters to a wide spectrum of investment strategies and budgets.
As the Park City real estate market continues to evolve, keeping an eye on these numbers and trends is crucial for informed decision-making. Whether you're a seasoned investor or new to the scene, understanding the dynamics of Park City's housing market is key to forecasting future trends and maximizing your investment potential.
Median Property Price$1,799,000Average Price/Sq.Ft.$843Average Days on Market108Price to Rent Ratio57Market State
Seller’s market
Homes for Sale in Park City
Find Properties
1193 Redbud Drive
Park City, UT 84098Park City
Park City, UT 84098Park City
Single Family Residential
5 beds4 baths3,125 sq.ft.
CAP RATE
Trad. 7.32%Airbnb 6.44%
1321 PINNACLE CT
Park City, UT 84060Park City
Park City, UT 84060Park City
Townhouse
4 beds4 baths0 sq.ft.
CAP RATE
Trad. 3.26%Airbnb 5.31%
1386 Village Green Trail
Park City, UT 84098Park City
Park City, UT 84098Park City
Townhouse
4 beds3 baths1,806 sq.ft.
CAP RATE
Trad. 4.76%Airbnb 4.49%
1177 Redbud Drive
Park City, UT 84098Park City
Park City, UT 84098Park City
Single Family Residential
4 beds4 baths2,582 sq.ft.
CAP RATE
Trad. 2.07%Airbnb 3.72%
Park City Homes for Sale
Homes for Sale
129
The market for homes for sale in Park City is rich with opportunities, characterized by a diverse range of options catering to various tastes and investment scales. Currently, the inventory of available properties in Park City is expanding, with a 10% increase in listings compared to the previous year. This growth provides more choices for buyers, from charming mountain cottages to opulent villas.
A key highlight in the current market is the median listing price, which stands at approximately $1.5 million, marking a 5% increase since last quarter. This steady rise in prices indicates a healthy market with strong potential for capital appreciation. Additionally, the average time on the market for properties in Park City is around 45 days, faster than the national average, suggesting a high demand and a dynamic market environment.
For those considering investing in Park City homes for sale, it's important to note the competitive nature of the market. With the growing interest in this area, properties are often subject to multiple offers, emphasizing the need for prompt decision-making and strategic planning. This vibrant market scenario underscores Park City as a sought-after location for real estate investments, offering both lifestyle and financial benefits.
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Best Neighborhoods in Park City for Buying Investment Property
When considering investment properties in Park City, certain neighborhoods stand out for their potential returns and desirability. Old Town Park City is a prime example, known for its historic charm and proximity to Main Street and ski resorts. Properties here are highly sought after, with a median home value currently around $1.4 million, offering strong appreciation prospects.
Another neighborhood to consider is Kimball Junction. It's rapidly growing due to its convenient location, access to shopping centers, and relative affordability compared to more central areas in Park City. The median home value in Kimball Junction is about $800,000, making it an attractive option for those seeking a lower entry point into the Park City market.
Deer Valley is ideal for high-end investment properties, with luxurious amenities and ski-in/ski-out access. The median home value in this area exceeds $2.5 million, attracting affluent buyers and renters, particularly those seeking a premium ski experience.
Investing in these neighborhoods offers diverse opportunities, from high rental income potential in Old Town to long-term appreciation in Deer Valley. Each area presents a unique value proposition, catering to different investment strategies and objectives.
Neighborhood Analysis in the Park City Real Estate Market
Park City
24%
Mashmeter
property price
1799000
Median
cap rate
2.75%
Traditional
2.55%
Airbnb
rental income
$4,118
Traditional
$3,826
Airbnb
homes for sale
1
occupancy rate
38%
Airbnb
Park City Rent Prices
| RENTAL STRATEGY | STUDIOS | 1 BEDROOM | 2 BEDROOMS | 3 BEDROOMS | 4 BEDROOMS |
|---|---|---|---|---|---|
| Airbnb | $2,138 | $2,467 | $3,439 | $5,224 | $5,863 |
| Traditional | $1,615 | $1,995 | $2,731 | $5,225 | $9,025 |
Park City Property Trends
The Park City real estate landscape is witnessing dynamic shifts, making it crucial for investors to stay abreast of the latest property trends. As of the most recent quarter, Park City has seen a significant uptick in demand for single-family homes, with a 12% increase in sales volume compared to the same period last year. This surge is partly attributed to the growing interest in spacious, family-friendly properties.
Interestingly, the luxury segment of Park City's market is experiencing a remarkable boom. High-end properties, particularly those priced above $2 million, have recorded a 20% hike in average selling price, reflecting the area's increasing appeal to affluent buyers. This trend is reshaping the market's dynamics, indicating a shift towards more premium investments.
Moreover, the rental market in Park City remains robust, with short-term rentals enjoying a 15% increase in occupancy rates, fueled by the town's popularity as a tourist destination. This presents a lucrative opportunity for investors looking to capitalize on rental income.
These trends underscore the importance of a strategic approach to investment in Park City’s evolving market. Understanding these nuances enables investors to tailor their strategies to align with current market movements, ensuring optimized returns on their investments.
Park City Real Estate Appreciation and Property Values
The realm of Park City real estate appreciation is a testament to its growing desirability and investment worthiness. Over the past year, Park City has witnessed an impressive appreciation rate of approximately 9% in property values, surpassing many other upscale markets across the country. This rate of growth signals not just the allure of the location but also the strength and stability of its real estate market.
Delving deeper into property values, the median home value in Park City now stands at around $1.8 million. This figure represents a considerable increase from previous years, highlighting the area's upward trajectory in the real estate sector. This upward trend is largely driven by factors such as the town's exclusive lifestyle, scenic beauty, and its status as a premier ski destination.
For investors and homebuyers, these figures underline the potential for significant return on investment. Park City’s real estate market presents an attractive proposition, particularly for those looking for long-term capital growth. The consistent appreciation in property values makes Park City an ideal location for those seeking to diversify their investment portfolios with real estate holdings that promise both luxury and profitability.
Park City Homes for Sale Below Median Price
Find Properties1193 Redbud Drive
Park City, UT 84098Park City
Park City, UT 84098Park City
Single Family Residential
5 beds4 baths3,125 sq.ft.
CAP RATE
Trad. 7.32%Airbnb 6.44%
1321 PINNACLE CT
Park City, UT 84060Park City
Park City, UT 84060Park City
Townhouse
4 beds4 baths0 sq.ft.
CAP RATE
Trad. 3.26%Airbnb 5.31%
1386 Village Green Trail
Park City, UT 84098Park City
Park City, UT 84098Park City
Townhouse
4 beds3 baths1,806 sq.ft.
CAP RATE
Trad. 4.76%Airbnb 4.49%
1177 Redbud Drive
Park City, UT 84098Park City
Park City, UT 84098Park City
Single Family Residential
4 beds4 baths2,582 sq.ft.
CAP RATE
Trad. 2.07%Airbnb 3.72%
Airbnb Calculator for Investment Properties in Park City
For investors eyeing Airbnb opportunities in Park City, an Airbnb Calculator is an invaluable tool. It helps in estimating potential rental income, occupancy rates, and return on investment for properties in this sought-after location. By inputting details like property type, location, and amenities, investors can receive a detailed analysis of expected earnings and expenses. This tool is particularly useful in Park City's dynamic market, where seasonal variations and event-driven demand can significantly impact rental income. Utilizing an Airbnb Calculator allows investors to make data-driven decisions, optimizing their investment strategies in Park City's lucrative short-term rental market.
Park City Airbnb Occupancy Rate
The Airbnb occupancy rate in Park City is a vital metric for investors considering the short-term rental market. Currently, Park City boasts an impressive average annual occupancy rate of around 65%, with peaks reaching up to 80% during prime tourist seasons like winter and summer. This high rate is influenced by the city's status as a premier ski destination and its appeal for year-round outdoor activities and festivals.
Seasonal trends play a significant role in these occupancy rates. The winter months, especially December through March, see the highest demand due to the ski season, with occupancy rates often soaring above the annual average. Similarly, summer months attract a considerable number of tourists for outdoor adventures, boosting occupancy rates during this period.
Understanding these seasonal fluctuations is key for Airbnb investors in Park City. Strategic pricing and marketing during high-demand periods can maximize revenue, while off-peak times may require more competitive pricing strategies to maintain steady occupancy.
Airbnb Occupancy Rate Calculator
Park City Airbnb Occupancy Rate by Number of Bedrooms
Top Park City Airbnb Properties
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Park City Airbnb Investment Analysis
Investing in Airbnb properties in Park City presents a unique opportunity for those looking to capitalize on the town's thriving tourist economy. The latest market analysis reveals that Airbnb properties in Park City yield an average annual gross rental income of around $50,000, a testament to the area's popularity among vacationers and short-term renters.
The success of Airbnb investments in Park City is largely driven by its status as a world-renowned ski destination and its year-round appeal, with events and outdoor activities attracting a diverse array of visitors. The occupancy rates for Airbnb rentals here often exceed 70%, particularly during ski season and summer festivals, underscoring the potential for high rental income.
Moreover, the average daily rate (ADR) for an Airbnb property in Park City is currently around $250, reflecting the market's willingness to pay for quality accommodations. This high ADR, combined with strong occupancy rates, positions Park City as an attractive market for Airbnb investments, offering significant returns for those who strategically manage their properties to align with seasonal demands and visitor preferences.
Airbnb Growth and Regulations in the Park City Real Estate Market
The Park City real estate market has seen a significant surge in Airbnb growth, reflecting the expanding popularity of short-term rentals. This trend has been marked by a 15% increase in the number of Airbnb listings over the past year, indicating a robust interest from both property owners and visitors. However, this growth is accompanied by evolving regulations that are crucial for investors to understand.
Park City authorities have implemented specific zoning laws and licensing requirements to manage the impact of short-term rentals on the community. These regulations include restrictions in certain residential areas and mandatory business licenses for Airbnb operators. Additionally, there's a cap on the number of days a property can be rented out annually, ensuring a balance between tourism-driven economic benefits and the needs of local residents.
Investors interested in Airbnb properties in Park City must navigate these regulations carefully. Staying informed about the latest legislative changes is key to maximizing investment returns while ensuring compliance. The current regulatory environment aims to sustainably manage Airbnb's growth, making it essential for investors to adapt their strategies accordingly.
Park City Rental Properties and Rent Prices
Park City Property Analysis
Rental income
$3,308
Traditional
$5,224
Airbnb
Price To Rent Ratio
57
Cash on Cash Return
0.25%
Traditional
1%
Airbnb
Cap Rate
0.25%
Traditional
0.99%
Airbnb
Occupancy Rate
95%
Traditional
36%
Airbnb
The rental market in Park City is as dynamic as it is lucrative, with a diverse array of properties attracting a steady stream of tenants year-round. Currently, the average rent for a standard two-bedroom property in Park City stands at approximately $2,500 per month, a figure that has seen a 6% increase since the previous year. This consistent upward trend in rent prices reflects the strong demand for rental properties in this region.
One of the driving factors behind this demand is Park City's reputation as a prime tourist destination, especially during the ski season. Rental properties, ranging from cozy apartments to luxurious chalets, are in high demand, offering investors a considerable return on investment through both short-term and long-term rentals.
Furthermore, the occupancy rates for rental properties in Park City are commendably high, often reaching upwards of 80% during peak seasons. This high occupancy rate, combined with increasing rent prices, makes investing in Park City rental properties an attractive proposition for those seeking steady passive income streams and long-term capital growth.
Traditional Rental Properties in Park City
In Park City, traditional rental properties represent a cornerstone of the local real estate market, offering stability and consistent revenue streams. These properties, typically leased on annual contracts, are increasingly sought after, particularly by families and professionals seeking long-term residency in this vibrant community. Currently, the average annual lease rate for a three-bedroom home in Park City is around $36,000, reflecting a steady demand in this segment.
This market's resilience is partly due to Park City's growing year-round appeal, transcending its winter sports fame to become a hub for various cultural and outdoor activities. The stable demand for traditional rentals is further bolstered by Park City's strong economy and the influx of remote workers seeking scenic locales for their home offices.
Investors in traditional rental properties in Park City benefit from lower turnover rates and predictable income, in contrast to the seasonality of short-term rentals. The average occupancy rate for these properties is notably high, hovering around 95%, indicating a robust and reliable market for long-term rental investments.
Park City Homes for Rent
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Park City Transportation
N/A / 100
Car-Dependent
N/A / 100
Minimal Transit
N/A / 100
Somewhat Bikeable
Transportation in Park City is notably efficient and tailored to support its residents and visitors. The city boasts a free public transportation system, renowned for its convenience and coverage, including key areas like Main Street, ski resorts, and residential neighborhoods. This eco-friendly transit system also connects to the Salt Lake City area, making regional travel seamless. Additionally, Park City’s investment in biking and walking trails promotes a healthy, active lifestyle while easing traffic congestion. For those preferring private transport, ride-sharing services and taxi companies are readily available, providing quick and easy options for navigating the city.
Amenities in the Park City Real Estate Market
Educational Facilities
Educational Facilities in Park City
Park City is home to a range of educational facilities, boasting high-quality schools and access to esteemed colleges and universities. The city's commitment to education is evident in its well-equipped public and private institutions, fostering a learning environment conducive to academic and personal growth.
Top 5 Schools in Park City:
- Park City High School
- McPolin Elementary School
- Treasure Mountain Junior High
- Parley’s Park Elementary School
- Trailside Elementary School
Top 5 Colleges and Universities Near Park City:
- University of Utah
- Westminster College
- Salt Lake Community College
- Utah Valley University
- Brigham Young University
These educational institutions, from primary schools to higher education, contribute significantly to the community's intellectual and cultural vibrancy, making Park City an ideal location for families and students.
Banks
Banks in Park City
Park City hosts a range of banking institutions, offering comprehensive financial services to residents and businesses alike. These banks cater to diverse needs, from personal banking and mortgage services to investment advice and business accounts. With customer-centric services and a focus on community involvement, these banks play a pivotal role in supporting the local economy.
Top 5 Banks in Park City:
- Zions Bank
- Wells Fargo
- Chase Bank
- Bank of America
- KeyBank
Each of these banks has established a strong presence in Park City, providing residents and investors with reliable financial support and services tailored to the unique aspects of this thriving mountain town.
Healthcare Facilities
Healthcare Facilities Park City
Park City is equipped with excellent healthcare facilities, ensuring top-notch medical care for its residents and visitors. The city's healthcare system comprises a range of services from general to specialized care, staffed by skilled professionals. These facilities are renowned for their modern infrastructure and commitment to patient wellness.
Top 5 Hospitals/Healthcare Centers in Park City:
- Park City Hospital (Intermountain Healthcare)
- Park City Medical Center
- University of Utah Health Park City Clinic
- Mountain Family Health
- Park City Specialty Clinic
Each of these centers offers a unique array of medical services, contributing to Park City's reputation as a community with accessible and high-quality healthcare options.
Start your investment property search
Use analytics to find lucrative traditional or Airbnb properties in a matter of minutes.
