The useful answer is the shape of the change, not one estimated value
Zillow’s city-level Home Value Index places the typical Park City home value at approximately $1.61 million in August 2026. Midway was about $939,000, and Salt Lake City was about $572,000. Those figures are modeled values for the middle tier of each city’s housing stock. They are not appraisals, median sale prices, or estimates for a particular address.
The more useful finding is how differently the three series moved. From February 2020 to August 2026, Park City’s index increased about 80.8%, Midway’s about 74.6%, and Salt Lake City’s about 44.1%. Over the latest year, the gains were more measured: approximately 5.0% in Park City, 3.7% in Midway, and 2.4% in Salt Lake City.
The full Park City home-value report includes the source file, calculations, checkpoints, and limitations.
Why I would not apply the city number to a home
Park City contains very different property sets. A condominium near a resort base, a single-family residence in Park Meadows, a home in Old Town, and a large property outside the city core do not move as one. Midway also mixes historic town properties, newer subdivisions, resort-adjacent homes, and acreage. Salt Lake City has its own neighborhood, age, lot, and condition differences.
A modeled city value helps answer a broad question: how has the middle of the local housing distribution changed? It does not answer what a specific property is worth. That requires a dated comparable set with adjustments grounded in condition, location, rights, improvements, views, land, parking, association obligations, and the current competitive set.
How the long-run series can improve a decision
For a seller, the series is a guardrail against anchoring to an old purchase price or one memorable neighborhood sale. It can frame the period of change, but the listing strategy still belongs to the property and today’s alternatives.
For a buyer, the series can help separate a long-run market shift from short-term negotiating conditions. A market can have a much higher modeled value than it did in 2020 while current homes still take longer to sell or close below asking price. Those facts are not contradictory.
For a relocator comparing Park City with Salt Lake City, the value gap should be evaluated alongside the daily-use plan. Housing form, routes, winter access, maintenance, association or club obligations, services, and intended occupancy can matter more than a citywide percentage.
A practical property-level sequence
- Confirm the exact city, county, and jurisdiction for the address.
- Identify the legal and physical property type.
- Pull current listings, pending activity when available, and recent comparable closed sales.
- Document condition, improvements, rights, association obligations, and carrying costs.
- Use the city index only as background context, clearly labeled by date and definition.
The source for this analysis is Zillow Research’s public data library, using the city ZHVI file available September 29, 2026 and dated through August 31, 2026. Zillow describes ZHVI as a smoothed, seasonally adjusted measure of the typical value for homes in the 35th to 65th percentile. The file can be revised, which is why the report records its retrieval date.
If you are comparing specific homes, bring the addresses and intended use to a private planning conversation. I can help turn the broad market context into a property-specific evidence file.