Why Utah Is Built for Short-Term Rental Investors
Utah is an appreciation market. We build wealth in real estate here by buying and holding for many years — and the numbers back it up. Cash flow can be harder to come by, but the investors who self-manage and buy in the right pockets are consistently landing double-digit returns while their equity climbs year after year.
Start here
What to know before you invest in Utah
Let me be straight with you, because that is how we do things at Conmigo. Utah is a high-appreciation, buy-and-hold market. If you are chasing high cash flow AND high appreciation AND a completely hands-off experience, this is not the market for you. Every now and then a deal comes through where you truly can “have it all” — but those move fast, and you have to be ready to act.
A decent return in Utah right now runs 10–15% gross ROI. If you are clearing more than that, you are doing amazing. Self-managing is the single biggest lever that turns a modest cash-flow property into a strong one.
One more thing that matters here: the rules are always changing. Short-term rental ordinances vary city by city across Utah and get updated constantly. You can track the latest at the Utah STR regulations hub — but navigating that landscape so you stay legal and profitable is my job, not yours.
The real story
The total return picture
For investors anchored only on cash-on-cash return, the real story is total return. When you stack 3–6% annual appreciation in the Salt Lake City area — or 2–4% in the St. George area — on top of a 10–15% gross ROI, then add principal paydown and short-term rental tax advantages, the blended return becomes genuinely compelling. A property that cash flows modestly but appreciates $30,000–$50,000 in a single year is still a strong-performing asset.
Appreciation data sourced from Zillow, Redfin, KSL, Norada Real Estate, Houzeo, and local MLS reports (2025–2026).
My favorite market
Northern Utah & the Wasatch Front
There are several good places to invest across Northern Utah, but this is my favorite. Occupancy is high, and it is close to everything — including the international airport. In fact, ten major ski resorts sit within an hour’s drive of the Salt Lake City airport. That kind of concentration of world-class terrain, this close to a major airport, is almost impossible to find anywhere else in the country.
Within that hour you can reach Snowbasin, Powder Mountain, Park City, Deer Valley, Brighton, Solitude, Alta, Snowbird, Canyons and Sundance — ten resorts served by one airport.
Park City is a high earner in the winter and appraises beautifully, but it slows down the rest of the year. Drive just 25 minutes over the mountain to where the majority of the population lives, and you pick up much higher year-round occupancy. In this area you want to find 6+ bedroom homes — they perform the best. Large groups tend to travel together, which makes both summer and winter high seasons here. Spring and fall are slower; when bookings dip, we suggest pivoting to midterm or 30-day-plus rentals to keep the calendar full.
The tailwinds
New developments & events on the horizon
Part of why I am so bullish on this market is everything that is being built and booked right now. The demand drivers are stacking up:
Look closely at downtown and you will see Block 85 — today a parking lot, soon the site of the big-air snowboarding and skiing jumps and a medals plaza. Why stage those events on city streets instead of up on the ski hills? To show off the new developments. The whole world will be watching downtown Salt Lake City, and the neighborhoods around it, in 2034.
Where to look
Cities to watch along the base of the mountain
Along the base of the Wasatch, close to the city, these are the areas worth a serious look:
Sandy is a great spot if you are a little more risk-tolerant — it is where I put my own money. Holladay and Cottonwood Heights have real, legal pockets if you know where to look.
Do it right
The keys to a successful STR here
Proof, not promises
Recent Utah case studies
These are real homes I have recently helped investors buy across Utah — and how they are performing.
Each home sold by Rachel Kirkham · Savvy STR Agents, Brokered by eXp Realty. Revenue figures are actual or projected gross annual.
Down south
Southern Utah & the Zion draw
Southern Utah is a different animal. It is anchored by Zion National Park and the “Mighty 5,” and it pulls a steady stream of road-trippers looping through from Las Vegas and beyond. The demand is real — but when it comes to a genuinely profitable short-term rental, there is only one pocket I can confidently recommend: Orderville / Glendale. If you are just average in that area, you are grossing around $110,000 a year.
Thinking about a Utah short-term rental?
Let’s find the right pocket, run the numbers, and navigate the ordinances together — that part is my job. Whether it’s a 6-bedroom near the resorts or a Southern Utah gem, I’ll help you buy smart and stay ahead.
Work with Rachel →
Prepared by Conmigo Vacation Rentals & Savvy STR Agents · Brokered by eXp Realty — Utah Representative. Data sourced from Zillow, Redfin, KSL, Norada Real Estate, Houzeo, and local MLS reports (2025–2026). This article is for informational purposes only and does not constitute financial or investment advice.
Written by Rachel Kirkham
Rachel Kirkham is a dedicated Short-Term Rental (STR) agent based in Utah with extensive expertise in every facet of the STR industry. She co-founded Conmigo Vacation Rentals with her husband, Aaron, which has grown to manage over 100 STR units across Alaska, Idaho, Utah, and Wisconsin, with plans for international expansion on the horizon. As the CFO of Conmigo Vacation Rentals, Rachel ensures her clients fully understand the financial details of their investments while offering strategic guidance. With six years of experience managing homes in Utah, she combines daily market knowledge with a hands-on approach to help clients succeed. In the past two years, Rachel has expanded into boutique hotel flipping and management, working with both clients and as an investor herself. A former NCAA Division 1 soccer player, Rachel brings discipline, determination, and a strong work ethic to everything she does. These qualities have fueled her success in business and life, enabling her to navigate challenges with resilience. When she’s not working, Rachel enjoys playing soccer on weeknights, traveling to new destinations with her husband, and creating lasting memories with their two young boys.
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