Draper Property Management

Investing Insights

Draper is one of the wealthier cities in the Salt Lake City metropolitan area, with the US census reporting a median household income of $117k in 2019. With less than 50,000 residents, Draper generally has less than 50 rentals available to rent at any given time, making it an ideal location to start an investment property. 

Pros of Investing in Draper

One of the primary pros of investing in Draper is that it is an excellent location for employment. Draper is a fast-growing city, and large companies have moved or are planning to move there; Tesla is one! Therefore, there is a large array of employment opportunities for those wanting to work in Draper. As well, many residents of Draper commute into nearby Salt Lake City, keeping the craziness of city life away from their tranquil home life. 

Cons of Investing in Draper

Draper is a tight-knit community, which is excellent except for the high standards that it can set. Some neighborhoods, communities, and HOAs have strict rules and regulations on what is allowed in or on your property. It is critical that you carefully read your HOA’s by-laws or neighborhood association regulations to avoid fines and conflicts. 

Investor Snapshot

Draper Home Prices:

In April of 2021, the statistics for Draper’s buying market are as follows:

• Price Range: $189k-$7M
• Median List Price: $550K
• Trending: Draper has seen a 4.6% year-over-year increase since 2020. According to Zillow, Draper has increased its median home price from $425k in 2016 to 623K as of 2021. 

Draper Rental Rates:

In April of 2021, the statistics for Draper’s renting market are as follows:

• Price Range: $700-$2,000
• Average Rent: $1,345
• Trending: Draper average rent has experienced a 4% year-to-year increase since 2020. 

Utah Property Solutions

You are a busy person, and managing rental property in Draper can be a time-consuming task that you simply don’t have the time or know-how to do. That is why Utah Property Solutions are here to help! Give us a call today for a free rental analysis. In addition, we understand that life doesn’t always go according to plan, which is why we offer a no-obligation management service. We provide a month-by-month management agreement that owners can cancel at any time with a 30-day notice. Do you want to learn more? Check out our vlog for more information!