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Real Estate Prices & Overview

Salt Lake median real estate price is $586,030, which is less expensive than 84.9% of Hawaii neighborhoods and 26.4% of all U.S. neighborhoods.

The average rental price in Salt Lake is currently $2,757, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.3% of Hawaii neighborhoods.

Salt Lake is a densely urban neighborhood (based on population density) located in Honolulu, Hawaii.

Salt Lake real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Salt Lake neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 6.4% in Salt Lake. NeighborhoodScout analysis shows that this rate is lower than 57.5% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

Of note is NeighborhoodScout's research finding that the Salt Lake neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Salt Lake community truly stands out from the rest in this regard.

Real Estate

The Salt Lake neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 99.1% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

In addition, one of the really unique and interesting things about the look and setting of the Salt Lake neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 94.1% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.8% of all neighborhoods in America.

Furthermore, the Salt Lake neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 57,101 persons per square mile in the neighborhood, it is more packed with people than 98.7% of the nation's neighborhoods.

Also of note, most neighborhoods are composed of a mixture of ages of homes, but the Salt Lake stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 90.9% of the residential real estate here was built in this one time period.

Modes of Transportation

Our research shows that more people carpool to work here in the Salt Lake (31.0%) than in 99.0% of the neighborhoods in America.

Also, more people ride the bus in this neighborhood each day to get to work than 95.6% of U.S. neighborhoods.

Occupations

With 5.1% of employed workers living in the Salt Lake neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 98.8% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Furthermore, the Salt Lake neighborhood has a greater proportion of government workers living in it than 96.1% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Diversity

Did you know that the Salt Lake neighborhood has more Asian and Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 61.6% of this neighborhood's residents have Asian ancestry and 1.0% have Romanian ancestry.

Salt Lake is also pretty special linguistically. Significantly, 8.3% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 99.9% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Salt Lake neighborhood in Honolulu are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 61.0% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Salt Lake neighborhood, 32.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 30.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (25.8%), and 13.7% in government jobs, whether they are in local, state, or federal positions.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Salt Lake neighborhood is English, spoken by 69.1% of households. Other important languages spoken here include Korean, Japanese, Chinese and Tagalog (the first language of the Philippine region).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Salt Lake neighborhood in Honolulu, HI, residents most commonly identify their ethnicity or ancestry as Asian (61.6%). There are also a number of people of Norwegian ancestry (4.0%), and residents who report German roots (2.9%), and some of the residents are also of Irish ancestry (2.5%), along with some English ancestry residents (2.0%), among others. In addition, 20.7% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Salt Lake neighborhood spend between 30 and 45 minutes commuting one-way to work (35.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (55.6%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (31.0%) and 11.4% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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