Utah rent prices among fastest-rising in nation

May 25, 2022, 8:00 PM


Utah ranks third in the nation for fastest-rising rent after neighboring states Idaho and Nevada — this according to Stessa.com, a rental property management site.

While most areas have seen increased housing and rental prices, the actual prices and the rate of increase vary largely by geography.

Stessa found that Utah has seen a 22.2 percent increase in rent since 2019, right behind Nevada with a 26.0 percent rate and Idaho at 24.1 percent.

“These states have experienced high population growth in recent years,” the site said. “Bolstered in part by workers leaving higher-cost states like California and Washington in search of more affordable markets—but who have increased costs in their new locations in the process.”

A recent Unaffordable Utah report by KSL TV’s Ladd Egan showed how Salt Lake County’s rental market is about as tight as it’s ever been. The rent increase of 10.1% from 2020 to 2021 is the second-highest increase on record.

In 2021, the average rent was $1,301 in Salt Lake County, a significant increase from 2010 when the average rent was $720, according to a new report from the Kem C. Gardner Policy Institute at the University of Utah.

Stessa also ranked large metro areas by fastest-rising rent, and Salt Lake City came in third behind Las Vegas and Sacramento.

SLC rent increased 24.6 percent from 2019 to 2022, with the median rent increasing nearly $300 from $1,184 in 2019 to $1,475 this year.

Utah’s home buying frenzy calming down, prices remain high

Other Utah communities made the site’s lists for small and mid-size metros with the most rent increase since 2019.

Logan is listed 7th on the list of small metros, with an 26.7 percent increase in rent.

Provo and Ogden made the top 15 for mid-size metros with the highest rent increase.

Stessa says Ogden-Clearfield is 10th with 23 percent and the Provo-Orem area is 13th with 21.8 percent.

The site listed Alaska as the only state to have decreased in rent costs since 2019.

Are Californians To Blame For Utah’s Surging Home Prices?

KSL 5 TV Live

Local News

The owners of WaterCreek Nails and Spa said a break-in resulted in thousands of dollars worth of da...

Shelby Lofton

Downtown nail spa broken into, hate speech spray-painted on the wall

The owners of WaterCreek Nails and Spa said a break-in resulted in thousands of dollars worth of damage, but the hate speech left behind made the situation worse.

5 hours ago

A Utah Highway Patrol vehicle in Salt Lake City is pictured on Thursday, Oct. 22, 2020. (Deseret Ne...

Mark Jones

UHP trooper injured in collision with alleged DUI driver

The Utah Highway Patrol says a 24-year-old man was taken into custody early Saturday morning after he was allegedly driving more than 100 mph and attempted to elude authorities.

7 hours ago

City officials in Eagle Mountain say a family of nine has been displaced following a house fire Sun...

Mark Jones

Eagle Mountain family safely escapes house fire, crews prevent home from being total loss

City officials in Eagle Mountain say a family of nine has been displaced following a house fire Sunday afternoon.

10 hours ago

Acting President of the Quorum of the Twelve Apostles, Jeffrey R. Holland (center) records a histor...

Tad Walch, Deseret News

‘I’m planning on eternity’: President Holland rededicates historic St. George Utah Temple

President Jeffrey R. Holland rededicated the St. George Utah Temple, the oldest operating temple of The Church of Jesus Christ of Latter-day Saints, after a major renovation.

11 hours ago

Viktoria Tibbitts, center, with her sister and mom. A fundraiser was held Sunday for Viktoria, who ...

Brianna Chavez

Dozens show up to Riverdale Denny’s to support employee hit by truck

A busy Sunday is meant to be expected, but this Sunday's workday was much more meaningful for employees at the Denny's on Riverdale Road.

11 hours ago

Lloyd D. Newell, the announcer and writer of the weekly Music & the Spoken Word broadcast for the p...

Devin Oldroyd

Lloyd Newell announces departure from ‘Music & the Spoken Word’

After 34 years, Lloyd Newell, host of the Tabernacle Choir’s “Music & the Spoken Word”, announced he is concluding his service next year.

13 hours ago

Sponsored Articles

Stylish room interior with beautiful Christmas tree and decorative fireplace...

Lighting Design

Create a Festive Home with Our Easy-to-Follow Holiday Prep Guide

Get ready for festive celebrations! Discover expert tips to prepare your home for the holidays, creating a warm and welcoming atmosphere for unforgettable moments.

Battery low message on mobile device screen. Internet and technology concept...

PC Laptops

9 Tips to Get More Power Out of Your Laptop Battery

Get more power out of your laptop battery and help it last longer by implementing some of these tips from our guide.

Users display warnings about the use of artificial intelligence (AI), access to malicious software ...

Les Olson

How to Stay Safe from Cybersecurity Threats

Read our tips for reading for how to respond to rising cybersecurity threats in 2023 and beyond to keep yourself and your company safe.

Design mockup half in white and half in color of luxury house interior with open plan living room a...

Lighting Design

Lighting Design 101: Learn the Basics

These lighting design basics will help you when designing your home, so you can meet both practical and aesthetic needs.

an antler with large horns int he wilderness...

Three Bear Lodge

Yellowstone in the Fall: A Wildlife Spectacle Worth Witnessing

While most people travel to this park in the summer, late fall in Yellowstone provides a wealth of highlights to make a memorable experience.

a diverse group of students raising their hands in a classroom...

Little Orchard Preschool

6 Benefits of Preschool for Kids

Some of the benefits of preschool for kids include developing independence, curiosity, and learning more about the world.

Utah rent prices among fastest-rising in nation