How many renters live in Park City, Utah?
The City of Park City has 8,379 people living in 2,876 households.
There are 2,629 renters living in 713 renter households in this City. Renters make up 31.38 percent of the population living in Park City.
What is the rental market like in Park City, Utah?
There are an estimated 8,509 housing units in the Park City area. Of these, 1,885 units are rental homes, making up 22 percent of the housing market. For every renter household in Park City, Utah, there are 3 rental units.
What is the vacancy rate for rentals in Park City?
The rental vacancy rate in Park City is 62 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Park City for each bedroom size?
Occupied Rental Units by Size in Park City
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 38 | 108 | 173 | 273 | 93 |
Occupied Rental Units by Size in Park City
A large number of apartments in Park City have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Park City are overburdened by housing costs?
Among renter households in this market, 26 percent have housing cost burden. Further, 13 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Park City
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,383 to $2,525. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,383 |
| One BR | $1,392 |
| Two BR | $1,807 |
| Three BR | $2,331 |
| Four BR | $2,525 |
2024 Fair Market Rents in Park City, Utah
How many units are rented at Fair Market Rent (FMR) in Park City?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 17 | 45 percent |
| One BR | 47 | 44 percent |
| Two BR | 60 | 35 percent |
Rental Units Below FMR in Park City, Utah
How many affordable rental units are in Park City?
There are a variety of federal affordable housing programs serving households in Park City, Utah including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 329 |
| USDA Section 515 Rural Rental Housing | 122 |
Tracked Units by Federal Program in Park City, Utah
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Park City, Utah
Park City features 122 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Park City, Utah
There are 524 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Park City.
Housing Choice Vouchers in Park City, Utah
On average, Section 8 Housing Choice vouchers pay Park City landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Park City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Park City, Utah for a two-bedroom apartment is between $1,626 and $1,988.
Sourced from federal housing data and AffordableHousingOnline.com research.
