Salt Lake City is a booming city in Utah with a metro population of 1.2 million as of 2019. It is also the larger of only two major urban areas located in the Great Basin. The city is located in northern Utah, has a thriving economy, and was deemed by CNN in 2014 to be the least stressed-out city in the United States because of the low cost of living and abundance of jobs. Home to two Fortune 1000 companies and other notable firms, Salt Lake City has historically been nicknamed the “Crossroads of the West” for its railroad, steel, and mining operations. Besides being a great place to live and work, Salt Lake City has performing art venues, museums, colleges and universities, an eclectic music scene, festivals, and great neighborhoods. It is also home to the Utah Jazz NBA basketball team. Because Salt Lake City and the metropolitan region are such a desirable area to live in, housing demand has never been greater.
Although Salt Lake City is a prosperous city in the Western part of the United States, the number of homeowners delinquent on their mortgages prior to COVID was 1.4% of residents. Utah ranked #27th in the U.S. for most foreclosures, and 1 in every 1,276 homeowners were affected, ultimately impacting the Salt Lake City area.