Salt Lake City multifamily market, October 2026

Neither side has the edge in Salt Lake City, and it is mixed: asking rents are down 0.1% on a year, while jobs grew 2.7%.

Updated October 31, 2026 · from Zillow, BLS and the US Census Bureau

-0.1%

Asking rent, year over year

Zillow · September 2026

+2.7%

Jobs, year over year

BLS · September 2026, preliminary

5.1%YEARLY

Vacancy

Census · 2024 count

What is moving now

Asking rents are down 0.1% on a year to September 2026, which is the figure the condition is read from. Jobs are up 2.7% over the same year to September 2026, a first release the BLS revises the following month. Jobs are growing but asking rents are slipping (September 2026).

The backdrop

These are yearly Census counts, not this month's: 5.1% of rentals sat empty in 2024, permits for new apartments were up 168% in 2025, more people moved out than in in 2025, and the typical rent was $1,659 a month in 2024. They are the background the monthly figures move against, and they are the newest the Census has published.

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Common questions about Salt Lake City

Answered from the data, updated October 31, 2026

Is the Salt Lake City rental market tight or soft right now?

In Salt Lake City right now, neither side has a clear edge, and it is mixed.

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 2024 count, a yearly snapshot rather than a monthly reading (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 Sep 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

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Data: Zillow ZORI, BLS, US Census Bureau, FRED, and the MetroSgnl news feed. Recomputed daily. Market information only, not investment advice.
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