Sandy Property Management

Investing Insights

Before analyzing the pros and cons of investing in Sandy, it is essential to consider the city's demographics. As of 2019, the U.S. Census reported a population of just under 100,000 residents. The median household income clocked in just under 100k, with a poverty rate of around 5%. 

Pros of Investing in Sandy

Sandy is a popular location for young professionals and young families to start putting down roots. With only 21% of homes being renter-occupied, you will have a vast variety of renters that are looking for larger homes. Sandy’s proximity to Salt Lake City, you will also likely get applicants from individuals wanting to move away from the hustle and bustle of city life who want to commute to work and maintain a tranquil home life.

Cons of Investing in Sandy

Sandy is split up into 21 different neighborhoods, each with its own demographics. In some neighborhoods, you will find older homes primarily built between the 1960s-the 1980s. In others, you can find homes built within the last few years. If you are considering investing in Sandy, you will want to research carefully and do your due diligence before buying a home to make sure that the home's value and the renter demographics of the area sync nicely. 

Investor Snapshot

It is important to note that Sandy has a variety of neighborhoods, each with different average median home prices and rental rates. For example, Dell is the most expensive neighborhood in Sandy, with a median listing price of $1M. Whereas Sandy Civic Center is the most affordable neighborhood, averaging a median listing price of $301k. 

Sandy Home Prices:

As of April 2021, the Sandy home pricing is as follows:

• Price Range: $73K to $16.5M
• Median List Price: $475k
• Trending: Sandy has seen a 15.9% year-over-year increase since 2020. According to Zillow, Sandy has had a drastic increase in median home pricing over the last five years, jumping from $279k in 2016 to $446k as of March 2021. Zillow also is forecasting that the median home price could jump to $510k by 2022. 

Sandy Rental Rates:

As of April 2021, the Sandy rental rates are as follows:

• Price Range: $700-$2,000
• Average Rent: $1,345
• Trending: Sandy has seen a 3% increased compared to 2020. 

Utah Property Solutions 

Are you looking to invest in a rental property or already have one ready to go, but you don’t want to deal with the hassle of managing it? Utah Property Solutions is your answer to a successful rental property. Give us a call today for a free rental analysis. Plus, we understand that life doesn’t always go according to plan, which is why we offer a no-obligation management service. We have 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!