Rental prices up; housing availability down

Aug 20, 2018, 9:39 AM | Updated: 11:46 am

SALT LAKE CITY — New research shows rental prices are skyrocketing, even though Utah’s unemployment rate remains among the lowest in the nation.

With a jobless rate of 3.1% in July, jobs are plentiful in the Beehive state, but anyone who would hope to move to Utah to take advantage of those openings may have a hard time finding and affording housing.

New research from real estate investment firm Marcus & Millichap shows both rental and home prices are skyrocketing across northern Utah. Currently, if a person earns minimum wage, $7.25 an hour, they would have to work 94 hours a week in order to afford a two-bedroom apartment in Salt Lake City. In downtown SLC, prices were the highest with an average rent of $1237 per month. Rental prices in Utah, Davis and Salt Lake Valleys aren’t much lower: averaging $1100 dollars a month. Weber County renters were able to find the best deals; a two-bedroom apartment in that area was averaging $911 per month, though those rates are rising as well.

The average rent in Salt Lake County rose from $832 to 1031 a month between 2010 and 2016, an increase of nearly 24 percent. Now, the average sits at just over $1100 for 2018.  And with wages not keeping up with increased rental prices, Tara Rollins of the Utah Housing Coalition says a person needs to earn $26 per hour to afford a two-bedroom apartment in South Jordan.


Rollins is also concerned about the amount of dollars Utah spends drawing tourists to the state. She says Utah spends $20 million a year on advertising for tourism, but claims that’s not nearly enough to support the infrastructure tourism requires, such as livable wages for housekeeping hotel staff and restaurant servers.

“A chamber maid who works in a hotel in Salt Lake City can’t afford to keep a roof over her head,” Rollins says.

Some residents say just trying to find an available apartment to rent is like finding a needle in a haystack. Even outside of the rising cost of rental property, researchers said there was a lack of housing in general, with residents in Orem and Lehi facing the least number of available apartments to rent.


Today’s Top Stories


Salt Lake County DA's office pictured, it just declined to call an incident an officer-involved cri...
Samantha Herrera

Salt Lake County DA says police chase that ended in a fatal crash was not an officer-involved critical incident

The DA's office found that a police chase turned crash did not meet the criteria for an officer-involved critical incident.
1 day ago
chronic wasting Utah...
Adam Small

DWR wants to test deer kills for chronic wasting disease

Though chronic wasting disease isn't prevalent in Utah animals, wildlife officials say they want to keep ahead of potential problems.
1 day ago
Sgt. Elvin L. Phillips pictured. He's a World War II soldier, his burial will be in Bluffdale....
Amie Schaeffer and Samantha Herrera

Fallen World War II solider identified 78 years after his death, burial planned in Bluffdale

Using DNA analysis, the Defense POW/MIA Accounting Agency was able to identify a World War II solider and he is now being returned home for burial.
1 day ago
pig poop power...
Elizabeth Weiler

Nations largest pig farm exposed, two face criminal charges

ST. GEORGE, Utah — A jury selection is underway after two activists filmed their theft of dying piglets from Utah’s Circle Four Farm in an attempt to save them.  Advocates are calling it a landmark case to establish the “Right to Rescue” animals in distress.  Animal rights activists Paul Darwin Picklesimer and a former Northwestern […]
1 day ago
Sprinkler watering lawn pictured. Drought water conservation made improvements this year....
Chris Jacobs

Water levels indicate that Utah’s water conservation efforts are working

The Division of Water Resources reported that drought conditions are lower than last year and water conservation has maintained consistent water levels.
1 day ago
Taylorsville police have increased presence in the area (FILE PHOTO: KSLNewsRadio)...
Elizabeth Weiler

Attempted kidnapping of a minor near a Taylorsville school

TAYLORSVILLE, Utah — Police are investigating an attempted kidnapping case that occurred on Thursday, Sept. 29. just outside Bennion Jr. High School.  According to Taylorsville Police Department, the 11-year-old was walking home from school when she was approached by a man. The suspect, who was on foot, tried to get the girl to go with […]
1 day ago

Sponsored Articles

Young woman receiving laser treatment...
Form Derm Spa

How facial plastic surgery and skincare are joining forces

Facial plastic surgery is not only about looking good but about feeling good too. The medical team at Form Spa are trained to help you reach your aesthetic outcomes through surgery and through skincare and dermatology, too.
large group of friends tohether in a park having fun...
BYU MBA at the Marriott School of Business

What differentiates BYU’s MBA program from other MBA programs

Commitment to service is at the heart of BYU’s MBA program, which makes it stand out among other MBA programs across the country.
a worker with a drill in an orange helmet installs a door in the house...
Price's Guaranteed Doors

Home improvement tip: Increase the value of your home by weatherproofing doors

Make sure your home is comfortable before the winter! Seasonal maintenance keeps your home up to date. Read our tips on weatherproofing doors.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
A paper reading IRS, internal revenue service is pictured...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Rental prices up; housing availability down