HOUSING + HOMELESSNESS

Utah rent prices surge, experts weigh in on potential housing solutions

Apr 6, 2023, 1:00 PM | Updated: Jan 5, 2024, 2:49 pm

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— While Utah’s ballooning housing market is often a talking point, to no one’s surprise the renters market has gone up right alongside it.

New data from The University of Utah Kem C. Gardner Policy Institute says rental costs have jumped up about 34 to 41% between Salt Lake, Davis and Utah Counties since 2018. Weber County rent costs grew more than 63% in the same timeframe.

Thursday, Kem C. Gardner and The Salt Lake Tribune hosted a roundtable discussion on the state’s rental market to talk about what might alleviate the burden of rising costs.

The panel included Utah Senator Nate Blouin, Cowboy Partners and Cowboy Properties CEO Dan Lofgren, Kem C. Gardner Senior Research Fellow Dejan Eskic and Utah Housing Coalition Executive Director Tara Rollins.

In the conversation, speakers hit on topics ranging from the role of local government, services to struggling renters and zoning.

Eskic brought up the idea of speeding up the process to build affordable housing units.

“You hit all the checkmarks…permits…and that speeds up the process,” Eskic said. ” I think one of the most challenging issues right now is timing.”

Eskic also touched on zoning laws around the country that have especially negatively impacted minority households.

“After the civil rights act…we divided up our cities,” Eskic said. “Your zip code is more determinant of your future wealth creation than almost anything.”

As of last year it costed families more than $1,400 a month to rent in Davis and Weber Counties, over $1,500 a month in Utah County and north of $1,600 a month in Salt Lake County.

Utah has 333,000 renting households.

Related reading

We want to hear from you.

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

Housing + Homelessness

Single-family homes under construction in Saratoga Springs are pictured on Tuesday, July 19, 2022....

Adam Small

2023 saw far fewer building permits in Utah, report says

The Ogden-Clearfield metro area had the biggest percentage decline in building permits year-over-year, nose-diving by 34%.

19 hours ago

An empty bedroom is seen in an affordable housing building run by Central City Concern, a Portland-...

HALLIE GOLDEN and CLAIRE RUSH, AP

Micro-apartments are back after nearly a century, as need for affordable housing soars

"Micro-apartments," small single rooms with a shared kitchen or bathroom, are popping up around the country.

4 days ago

Utah's economic growth has slowed year over year, with the Department of Workforce Services reveali...

Eric Cabrera

Fewer people moving to Utah means slower economic growth

Utah's economic growth has slowed, with the Department of Workforce Services revealing fewer people are migrating to Utah than years prior.

6 days ago

Housing construction and other construction in Salt Lake City on Tuesday, May 30, 2023....

Eric Cabrera

Salt Lake City secures record amount of affordable housing funding

A record a record $17.7 million in funding has been secured to go towards affordable housing in Salt Lake City.

8 days ago

fixer-upper...

Curt Gresseth

Can’t afford new home? Would you renovate a fixer-upper?

Is it worth the work and money to attempt to renovate a fixer-upper home? Realtor discusses pros and cons.

8 days ago

retirement home...

Curt Gresseth

Would you tap into retirement savings to buy a home?

Would you tap retirement savings to buy a home? Here's what to consider before taking such a step.

9 days ago

Sponsored Articles

Mother and cute toddler child in a little fancy wooden cottage, reading a book, drinking tea and en...

Visit Bear Lake

How to find the best winter lodging in Bear Lake, Utah

Winter lodging in Bear Lake can be more limited than in the summer, but with some careful planning you can easily book your next winter trip.

Happy family in winter clothing at the ski resort, winter time, watching at mountains in front of t...

Visit Bear Lake

Ski more for less: Affordable ski resorts near Bear Lake, Utah

Plan your perfect ski getaway in Bear Lake this winter, with pristine slopes, affordable tickets, and breathtaking scenery.

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.

Utah rent prices surge, experts weigh in on potential housing solutions