Rent prices in Salt Lake City averaged at $1,269 in January after a 2.4% increase since last year. Renters make up 48% of Salt Lake City’s population. Despite this, rates in Utah’s most populous city are still below the national average of $1,392.
Here are some other highlights from the January Rent Report:
- West Jordan apartments go for $1,222, after a 3.6% annual increase. Meanwhile, in West Valley City, rents went up by 6.6% since last year, reaching $1,207.
- Out of all the cities we analyzed, Layton ($1,146) saw the fastest increase in apartment prices, 10.9%. Compared to last year, tenants here paid an extra $113 for rent.
- Provo started 2021 with the most expensive rates in the area. Renters here paid an average of $1,455 for their apartments, $51 more than last year.
- Renters looking for more affordable apartments should consider living in Taylorsville and Ogden. Rent prices here average at $1,053, and $989, respectively.
The city with the largest renter share is Provo (57%), where the average rent is $1,455, after a 3.6% increase, followed by Midvale, where there are 57% renters. Salt Lake City comes in fourth with 48% of the population being renters. Clearfield, with an average rent of $1,111, has the fourth largest share of renters (42%) and has experienced a rent increase of 5.2% since January 2020. In Ogden, where 39% of the population are renters, the average rent is $989, seeing an increase of 3.3% compared to the past year.
The priciest and cheapest cities for renters in the Salt Lake City area
Provo is the priciest city for renters in the Salt Lake City area, with apartments renting for $1,455 per month. The average rent for apartments in Herriman is $1,397, the second most expensive, while South Jordan ($1,380) comes in third.
For renters in search of budget-friendly apartments, Ogden’s $989 average rent is the cheapest in the Salt Lake City area followed by Taylorsville’s $1,053 rate. Clearfield rentals are the third least pricey on the list, with a $1,111 average apartment rate.