Utah’s real estate landscape showcases stark contrasts, with remote mountain regions juxtaposed against bustling ski resorts and verdant valley suburbs. This geographical diversity is reflected in the wide range of home values across the state. An analysis of Zillow’s Home Value Index and the Census Bureau’s American Community Survey, focusing on data through November 2024, reveals a concentration of wealth in specific ZIP codes, largely driven by the allure of prestigious ski towns and the increasing desirability of mountain living.
Topping the list is Park City’s ZIP code 84060, synonymous with luxury and exclusivity. This renowned resort town boasts a median household income exceeding $132,000, but the average household income, nearing $250,000, truly underscores the area’s affluence. The past five years have witnessed an astounding surge in home values, appreciating by over 86% to reach a median of over $2 million. This dramatic increase reflects the high demand for property in this sought-after location, driven by its recreational amenities, scenic beauty, and upscale lifestyle.
Just north of Park City, ZIP code 84098 encompasses areas like Atkinson, Kimball Junction, and Snyderville, securing its position as the second most expensive ZIP code. With over two-fifths of households earning $200,000 or more annually, the area exhibits significant wealth concentration. A robust median household income of $171,151 and an average exceeding $240,000 further emphasize the area’s economic prosperity. Home values have experienced impressive growth, appreciating by nearly 65% over the past five years to approach $1.4 million, fueled by the proximity to Park City’s amenities and the desirability of mountain living.
South-southeast of Salt Lake City, ZIP code 84004, centered around the city of Alpine, claims the third spot on the list. Another ski resort area, it shares the characteristics of high-income earners, with over a third of households exceeding $200,000 in annual income. A median household income of $156,786 and an average nearing $200,000 demonstrate the area’s affluence. Home values have followed an upward trajectory, experiencing over 50% growth in the past five years, surpassing $1 million. This growth is likely driven by the combination of recreational opportunities, proximity to Salt Lake City, and the desirable mountain setting.
East of Salt Lake City, ZIP code 84036, encompassing Francis, Hideout, and Kamas, ranks as the fourth most expensive. While the median household income stands at a respectable $122,679, the average household income, approaching $180,000, hints at a growing concentration of wealth. This trend is mirrored by the substantial 73% surge in median home values over the past five years, reaching over $925,000. This impressive growth likely reflects the increasing appeal of these mountain communities, offering a blend of tranquility and access to outdoor recreation.
Completing the top five is ZIP code 84049, centered around the town of Midway, situated opposite the mountains of 84004. This area shares the characteristic of high-income households, with over a third exceeding $200,000 annually. A median income of $140,500 and an average nearing $200,000 underscore the community’s affluence. Mirroring the growth seen in 84036, home values have appreciated by over 72% over the past five years, approaching $905,000. The combination of a picturesque setting, proximity to recreational opportunities, and a sense of community likely contribute to the desirability and subsequent value growth in this area.
In conclusion, Utah’s most expensive ZIP codes are clustered around prominent ski resort areas and mountain communities, reflecting the increasing demand for properties in these desirable locations. The significant appreciation in home values over the past five years is a testament to the strong economic performance of these areas, driven by high-income earners and the allure of mountain living. These ZIP codes not only offer access to world-class recreational opportunities and stunning natural landscapes but also represent a concentration of wealth and economic prosperity within the state. The data clearly indicates a trend of continued growth and desirability in these areas, solidifying their position as Utah’s most exclusive and expensive real estate markets.
