Competition doubles for certain housing rentals in Salt Lake City

SALT LAKE CITY — According to the latest Rental Competitive Report from Rent Cafe, there is more competition for housing rentals in Salt Lake City. 

This year, about nine people compete for each available rental, per the report.

In 2023, the same agency reported that five people competed for each available rental in Salt Lake City.

According to Rent Cafe, report data is gleaned via telephone surveys from “competitively-rented (market-rate) large-scale multifamily properties.” They contain 50 or more units.

Additionally, the company said that “fully-affordable properties are not included in the survey and are not reported in rental rate averages.”

The lack of available housing enhances the problem. The rental report found less than a one percent increase in housing units in Salt Lake City so far this year. That’s even less than 2023.

Salt Lake City isn’t the only area experiencing this problem. Rent Cafe reported that all areas of the United States have fewer places to rent and higher competition among renters. For example, in Chicago, the Rent Cafe study found that 20 people are competing for each available rental.

Simone Seikaly contributed.

Heather Kelly is a traffic reporter for KSL NewsRadio. 

Suggested other reading:

• Community advocates continue call for affordable housing in SEG/SLC plan
• Salt Lake City secures record amount of affordable housing funding
• Salt Lake City plans to flip historic former public safety building into new housing
• West side housing project looks to add more low-income apartments to Salt Lake City

 

 

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