LOCAL (NEW)

Competition doubles for certain housing rentals in Salt Lake City

Sep 24, 2024, 7:29 PM | Updated: Dec 24, 2024, 8:06 am

FILE: A sign reading “For rent” in Salt Lake City on Saturday, Feb. 10, 2024. (Megan Nielsen, D...

FILE: A sign reading “For rent” in Salt Lake City on Saturday, Feb. 10, 2024. (Megan Nielsen, Deseret News)

(Megan Nielsen, Deseret News)

SALT LAKE CITY — According to the latest Rental Competitive Report from Rent Cafe, there is more competition for housing rentals in Salt Lake City.

This year, about nine people compete for each available rental, per the report.

In 2023, the same agency reported that five people competed for each available rental in Salt Lake City.

According to Rent Cafe, report data is gleaned via telephone surveys from “competitively-rented (market-rate) large-scale multifamily properties.” They contain 50 or more units.

Additionally, the company said that “fully-affordable properties are not included in the survey and are not reported in rental rate averages.”

The lack of available housing enhances the problem. The rental report found less than a one percent increase in housing units in Salt Lake City so far this year. That’s even less than 2023.

Salt Lake City isn’t the only area experiencing this problem. Rent Cafe reported that all areas of the United States have fewer places to rent and higher competition among renters. For example, in Chicago, the Rent Cafe study found that 20 people are competing for each available rental.

Simone Seikaly contributed.

KSL 5 TV Live

Local (New)

As thick haze sat over Salt Lake Thursday, doctors urged people to be strategic when exercising out...

Andrew Adams

Doctors urge people to be strategic with exercise in winter inversion

As thick haze sat over Salt Lake Thursday, doctors urged people to be strategic when exercising outdoors in winter inversion conditions.

12 days ago

The KSL Investigators worked relentlessly in 2024 to look out for consumers, expose systemic proble...

KSL Investigates

10 KSL Investigations that made a difference in Utah in 2024

The KSL Investigators worked relentlessly in 2024 to look out for consumers, expose systemic problems, highlight potential solutions, fight for government transparency, and get answers for Utahns.

1 month ago

Sponsored Articles

luxury living room with a classic white sofa and sofa, interior design...

Lighting Design

Revisiting home lighting trends for 2025

Looking for inspiration to revamp your home lighting? This article outlines some of the emerging lighting trends for 2025.

holiday gift basket with blue tissue paper and gingerbread cookies...

Kneaders Bakery & Cafe

Holiday hacks for a stress-free season

Get more out of your time with family and loved ones over the holidays by following these tips for a stress-free season.

2 computer techs in a computer shop holding up a computer server with the "hang loose" sign...

PC Laptops

A comprehensive guide to choosing the right computer

With these tips, choosing the right computer that fits your needs and your budget will be easier than ever.

crowds of people in a German style Christmas market...

This Is The Place Heritage Park

Celebrate Christkindlmarket at This Is The Place Heritage Park!

The Christkindlmarket is an annual holiday celebration influenced by German traditions and generous giving.

Image of pretty woman walking in snowy mountains. Portrait of female wearing warm winter earmuff, r...

Lighting Design

Brighten your mood this winter with these lighting tricks

Read our lighting tips on how to brighten your mood in the winter if you are experiencing seasonal affective disorder.

A kitchen with a washer and dryer and a refrigerator...

Appliance Man

Appliance Man: a trusted name in Utah’s home appliance industry

Despite many recent closures of local appliance stores, Appliance Man remains Utah's trusted home appliance business and is here to stay.

Competition doubles for certain housing rentals in Salt Lake City