Compared to other major metro areas across the U.S., the West’s housing market stands out for the biggest rent price jumps during the COVID-19 pandemic. Led only by cities in Nevada and Idaho, Salt Lake City, Utah ranks as #3 in the nation for the biggest rent price increases from 2019 to 2022, according to a new report from Stessa.
As housing prices reach new heights and even more Utahns are getting priced out of owning a home, Utah s most populous county is experiencing the tightest rental market in history.
How much is rent in Salt Lake County? Vacancy rates are below a slim 2%. The average rent in Utah for a two-bedroom unit was $1,710 in February. In Salt Lake City, that price average was even higher, at $2,157.