UTAH

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.

KSL TV

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.

 

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Today’s Top Stories

Utah

Utah's deregulating the workforce is something the rest of the nation could learn from. It's a topi...
Mark Jones

What America could learn from Utah’s deregulating workforce

SALT LAKE CITY — A tight labor market continues to hurt the rest of the nation. Utah, on the other hand, is deregulating its workforce by making some key changes to help build its economy and fill job openings. It’s something the rest of America could learn from.  This is accomplished by loosening the guidelines […]
1 day ago
A man was partially amputated while harvesting crops on monastery land Tuesday. At this time, it is...
Devin Oldroyd

Man’s arm partially amputated by farm equipment Tuesday afternoon

A man was partially amputated while harvesting crops on monastery land Tuesday. At this time, it is not clear if paramedics could save the limb.
1 day ago
two deer are pictured gazing up along the grass, research will take a deep dive into deer this seas...
Hugo Rikard-Bell

DWR implements emergency state-wide restrictions on shed antler hunting

The Department of Wildlife Resources has implemented emergency state-wide restrictions for shed antler hunting to help protect Big Game in Utah.
1 day ago
Utah Primary Election 2020...
Lindsay Aerts

New bill could disrupt signature gathering path to Utah’s ballot

There could be a significant shift in signature gathering by candidates in order to get on the Primary Election ballot in Utah under a new bill.
1 day ago
Utah is now enforcing a law requiring an educational course for off-highway vehicles. The state req...
Alexandrea Bonilla

Course certification now required for OHV driving on Utah public land

For Utah drivers 18 and up, the required OHV course is free. Minors have the option to pass an in-person skills test or take a $35 course.
1 day ago
The Utah Department of Corrections has provided more details after three separate assaults on priso...
Simone Seikaly

Utah Corrections offers more details on recent assaults against officers

The assaults happened Jan. 21, Jan. 30, and Feb. 4, 2023. Officials said the prisoners were looking for an opportunity to attack.
1 day ago

Sponsored Articles

Skier being towed by a rider on a horse. Skijoring....
Bear Lake Convention and Visitors Bureau

Looking for a New Winter Activity? Try Skijoring in Bear Lake

This article about skijoring is sponsored by the Bear Lake Convention & Visitors Bureau. Participate in Skijoring the Bear on February 20th, 2023.  What is skijoring? Skijoring is when someone on skis is pulled by a horse, dog, animal, or motor vehicle. The driver leads the skiers through an obstacle course over jumps, hoops, and […]
Banner with Cervical Cancer Awareness Realistic Ribbon...
Intermountain Health

Five Common Causes of Cervical Cancer – and What You Can Do to Lower Your Risk

January is National Cervical Cancer Awareness month and cancer experts at Intermountain Health are working to educate women about cervical cancer, the tests that can warn women about potential cancer, and the importance of vaccination.
Kid holding a cisco fish at winterfest...
Bear Lake Convention and Visitors Bureau

Get Ready for Fun at the 2023 Bear Lake Monster Winterfest

The Bear Lake Monster Winterfest is an annual weekend event jam-packed full of fun activities the whole family can enjoy. This year the event will be held from January 27-29 at the Utah Bear Lake State Park Marina and Sunrise Resort and Event Center in Garden City, Utah. 
happy friends with sparklers at christmas dinner...
Macey's

15 Easy Christmas Dinner Ideas

We’ve scoured the web for you and narrowed down a few of our favorite Christmas dinner ideas to make your planning easy. Choose from the dishes we’ve highlighted to plan your meal or start brainstorming your own meal plan a couple of weeks before to make sure you have time to shop and prepare.
Spicy Homemade Loaded Taters Tots...
Macey's

5 Game Day Snacks for the Whole Family (with recipes!)

Try these game day snacks to make watching football at home with your family feel like a special occasion. 
Happy joyful smiling casual satisfied woman learning and communicates in sign language online using...
Sorenson

The Best Tools for Deaf and Hard-of-Hearing Workplace Success

Here are some of the best resources to make your workplace work better for Deaf and hard-of-hearing employees.
Rental prices up; housing availability down