The Salt Lake City median rent fell by 0.6% over the course of December, and has now decreased by a total of 2.3% over the past 12 months, Apartment List says in their January report.
The city’s rent growth over the past year has is similar to the state average (-2.8%) but has fallen below the national average (-1.0%).
Rents in the city are 12.1% lower than the metro-wide median
Across the metro area, the median rent is $1,487 meaning that the median price in Salt Lake City proper ($1,307) is 12.1% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at -3.2%, below the rate of rent growth within just the city.
The table below shows the latest rent stats for 6 cities in the Salt Lake City metro area that are included in the Apartment List database.
Among them, Draper is currently the most expensive, with a median rent of $1,885. Salt Lake City is the metro’s most affordable city, with a median rent of $1,307. The metro’s fastest annual rent growth is occurring in Draper (-0.6%) while the slowest is in West Jordan (-5.0%).
