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Real Estate Prices & Overview

Exchange Place median real estate price is $915,795, which is more expensive than 87.2% of the neighborhoods in Utah and 86.9% of the neighborhoods in the U.S.

The average rental price in Exchange Place is currently $1,717, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 65.5% of Utah neighborhoods.

Exchange Place is a suburban neighborhood (based on population density) located in Salt Lake City, Utah.

Exchange Place 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Exchange Place neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Exchange Place. The current real estate vacancy rate here is 20.1%. This is higher than the rate of vacancies in 86.8% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (13.0%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

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

The first thing that you'll notice if you moved to this neighborhood is that an astounding 3.2% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.3% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the Exchange Place neighborhood should definitely be on your list of places to consider.

Real Estate

The real estate in the Exchange Place neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 87.2% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.8% of American neighborhoods.

In addition, the Exchange Place 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 85.5% 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.

Furthermore, homes built from 2000 through today make up a higher proportion of the Exchange Place neighborhood's real estate landscape than 95.0% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 66.0% of the residential real estate here is classified as newer.

Modes of Transportation

More people in Exchange Place choose to walk to work each day (10.6%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Diversity

Did you know that the Exchange Place neighborhood has more Yugoslav and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.2% of this neighborhood's residents have Yugoslav ancestry and 3.4% have Danish ancestry.

Exchange Place is also pretty special linguistically. Significantly, 4.4% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 98.1% 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 Exchange Place neighborhood in Salt Lake City are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 68.5% of U.S. neighborhoods. With 34.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 85.3% of U.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 Exchange Place neighborhood, 63.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 16.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.6%), and 6.8% in clerical, assistant, and tech support occupations.

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 Exchange Place neighborhood is English, spoken by 76.3% of households. Other important languages spoken here include Spanish, Arabic and Polish.

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 Exchange Place neighborhood in Salt Lake City, UT, residents most commonly identify their ethnicity or ancestry as English (22.6%). There are also a number of people of German ancestry (8.4%), and residents who report Asian roots (6.8%), and some of the residents are also of Swedish ancestry (6.3%), along with some Irish ancestry residents (4.6%), among others. In addition, 19.6% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Exchange Place neighborhood spend between 15 and 30 minutes commuting one-way to work (41.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (54.7%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (10.6%) . 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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