The number of available apartments in Salt Lake City is outpacing the number of residents looking for housing.
The city has about 155,971 apartments for rent, plus another 13,924 units under construction, according to Yardi Matrix’s report from July 2026. Meanwhile, apartment vacancy rates across the city, according to the Kem C. Gardner Policy report, climbed from 7.4% in August 2020 to 11.2% this July.
That excess supply means landlords are lowering rent and offering other incentives to attract tenants.
The Salt Lake Tribune reported that as a result of this trend, the University of Utah is having trouble filling beds in dorms.
The university has more than 900 empty beds in its residence halls for the fall academic term. A school spokesperson said roughly 15% of the 6,946 beds now available on campus sit unoccupied.
“Student housing is part of a complex city and regional housing market which ebbs and flows, particularly since the COVID-19 pandemic,” said spokesperson Rebecca Walsh in a statement.
Walsh pointed to those new and “unusual” concessions, including one apartment building in Salt Lake City that offers up to 10 weeks free rent and a $3,000 gift card, according to the Rental Housing Association of Utah.
Meanwhile, on average, rent for a one-bedroom apartment in Salt Lake City was $1,220 in September 2022 and has since dropped to around $1,083, according to the Gardner report.
Yardi Matrix puts Salt Lake City’s average rent between $1,400 and $1,700, depending on the location.
Another Month Of Rent Increases In August
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