Utah housing still unaffordable for many despite slowing market

Feb 23, 2023, 7:00 AM | Updated: Sep 11, 2023, 11:12 am

a for sale sign is pictured, utah housing is still too expensive for most...

A realty sign at a property in the Salt Lake City on Friday, Jan. 6, 2023. (Scott G Winterton/Deseret News)

(Scott G Winterton/Deseret News)

SALT LAKE CITY — Utah is near the bottom of the list for affordable housing in the entire nation. While raised interest rates have slowed the market down, it hasn’t made it any more affordable.

While the market has slowed, realtor Jordan Smith said we just don’t have enough houses to go around.

“We’re below 7,000 homes as far as inventory. As long as the rates continue to rise, I think we’re going to see a suppression of inventory.”

Smith doesn’t think the housing situation will ease up any time soon.

“Here in Utah, I don’t think we’re going to see the “bottoming out” or “crashing” of the market. There’s just not enough inventory.”

Smith said many have had to get creative in the buying process in order to afford a home.

“Co-borrowing’s huge and that’s on the rise.”

But prices are unlikely to drop soon, forcing many into a difficult situation.

“I don’t know what I’m going to do”

Jason Williams is a Riverdale resident who’s being forced from his mobile home park.

“We have until May 30, May 31 to move out,” Williams said.

The mobile home park he lives in is making way for apartments, but he and his neighbors don’t have another park they can easily move into.

Also, the average apartment rent in the area is almost double what these residents are used to paying.

“I don’t know what I’m going to do. I can’t afford to buy a home right now so I’ll probably live in my motor home for a while.”


We want to hear from you.

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

Housing + Homelessness

Gov. Spencer Cox explains portions of the proposal as he and Lt. Gov. Deidre Henderson sit down wit...

Adam Small

More starter homes in Utah top the Governor’s budget wish list

The Utah governor wants to invest $150 million into building 35,000 new starter homes by 2028.

18 hours ago

governor cox and several other people speak about his plan to address homelessness in utah...

Aimee Cobabe and Hugo Rikard-Bell

Gov. Cox releases budget plan to improve homelessness resources in Utah

Gov. Spencer Cox's office said Utah has gaps in how it addresses homelessness. His plans will attempt to close those gaps.

2 days ago

a woman covers her face...

Associated Press

Study says the US is ill-prepared to ensure housing for the growing number of older people

The 58-year-old lost his job as a machine operator, then his home, and he was living in his truck when he was diagnosed with stage 2 lung cancer.

6 days ago

several people sit at a table to eat a meal...


Utah shelters prepare to take in more people under Code Blue protocol

Under a new law, resource centers and other spaces are required to expand their capacity up to 35% if the temperature will fall to 15 degrees or below.

9 days ago

Inflation has frustrated home buyers, with many feeling like they'll never buy a house. But spendin...

Britt Johnson

Spending is trending but it’s making home buying even harder

Inflation has frustrated home buyers, with many feeling like they'll never buy a house. But spending is part of what has driven it so high.

16 days ago

Coachman's Dinner and Pancake House at 1301 South and State Street in Salt Lake City, Utah Dec. 11,...

Britt Johnson

Condo development on site of Coachman’s restaurant fails

A blow for Salt Lake City's Liberty Wells Neighborhood, a new condo complex on the site of Coachman's restaurant will not be moving forward.

19 days ago

Sponsored Articles

front of the Butch Cassidy museum with a man in a cowboy hat standing in the doorway...

Bear Lake Convention and Visitors Bureau

Looking Back: The History of Bear Lake

The history of Bear Lake is full of fascinating stories. At over 250,000 years old, the lake has seen generations of people visit its shores.

silhouette of a family looking over a lake with a bird in the top corner flying...

Bear Lake Convention and Visitors Bureau

8 Fun Activities To Do in Bear Lake Without Getting in the Water

Bear Lake offers plenty of activities for the whole family to enjoy without having to get in the water. Catch 8 of our favorite activities.

Wellsville Mountains in the spring with a pond in the foreground...

Wasatch Property Management

Advantages of Renting Over Owning a Home

Renting allows you to enjoy luxury amenities and low maintenance without the long-term commitment and responsibilities of owning a home.

Clouds over a red rock vista in Hurricane, Utah...

Wasatch Property Management

Why Southern Utah is a Retirement Paradise

Retirement in southern Utah offers plenty of cultural and recreational opportunities. Find out all that this region has to offer.

Human hand holding a protest banner stop vaping message over a crowded street background....

Prosperous Utah Communities

Utah’s Battle to Protect Youth from Vaping Epidemic Faces New Threat as Proposed Rule Threatens Progress

Utah's strict standards of nicotine levels in vaping products are at risk, increasing health hazards associated with use. Read more about how you can advocate for a better future for Utah's youth.

Aerial photo of Bear Lake shoreline with canopies and people camped out on the beach...

Visit Bear Lake

Last-Minute Summer Vacation Planning? Check Out Bear Lake!

Bear Lake is the perfect getaway if you are last-minute summer vacation planning. Enjoy activities with your whole family at this iconic lake.

Utah housing still unaffordable for many despite slowing market