Insights / Salt Lake City
Salt Lake City, UT Multifamily Market Read | August 2026
Salt Lake City reads Balanced and Mixed, so neither side has a clear edge. Asking rents are about flat over the past year (Zillow ZORI, monthly, latest Jun 2026). This brief lays out what the current data shows for Salt Lake City, grouped by how often each source updates.
Updated August 5, 2026
What is moving now (monthly)
Asking rents are about flat over the past year (Zillow ZORI, monthly, latest Jun 2026). Jobs are growing strongly, up 2.7% over the past year (BLS, monthly, latest Jun 2026).
The backdrop (yearly, US Census Bureau)
Vacancy was 5.1%, in a middling range, in the Jan 2024 count (US Census Bureau). This is a yearly snapshot, not a monthly signal. New permitting was heavy, +168.4% in the Jan 2024 count (US Census Bureau, building permits). A standing yearly figure, not a live signal. Net migration was negative at -6.4 per 1,000 residents in the Jan 2024 count (US Census Bureau).
Rent context
The metro median rent is about $1,659 a month (US Census Bureau, yearly).
What the data shows
Taken together, Salt Lake City is Balanced and mixed: neither side has a clear edge. The monthly movers, asking rent and jobs, are the live part of the picture, while vacancy, permitting, and migration are yearly snapshots that set the backdrop. MetroSgnl reads the market from public data and shows every figure with its source and cadence. This is market information, not investment advice, and not a recommendation about any property.
Is the Salt Lake City rental market tight or soft right now?
Salt Lake City reads Balanced right now, so neither side has a clear edge.
Which way is the Salt Lake City market heading?
Salt Lake City is mixed right now, as asking rents stay about flat over the past year (Zillow ZORI, monthly).
Is Salt Lake City a landlord's or a renter's market?
Salt Lake City is a balanced market right now, with neither side holding a clear edge.
What is the vacancy rate in Salt Lake City?
Vacancy in Salt Lake City is 5.1% in the Jan 2024 count, a yearly snapshot rather than a live monthly signal (US Census Bureau).
How much have Salt Lake City rents changed?
Asking rents in Salt Lake City are about flat over the past year (Zillow ZORI, monthly, latest Jun 2026).
Recent coverage
Daily, from the MetroSgnl news feed. Headlines only.
Data: Zillow ZORI, BLS, US Census Bureau, Redfin, FRED, and the MetroSgnl news feed. Updated daily. Market information only, not investment advice.