Salt Lake City rents have increased 0.7 percent over the past month, and have increased sharply by 12.4 percent in comparison to the same time last year, Apartment List says in their August report.
Currently, median rents in Salt Lake City are $1,165 for a one-bedroom apartment and $1,502 for a two-bedroom.
The city’s rents have been increasing for 22 straight months – the last time rents declined was in October 2020.
Salt Lake City’s year-over-year rent growth leads the state average of 12.1 percent, as well as the national average of 10.0 percent.
West Valley City rents increase sharply over the past month
West Valley City rents have increased 1.4 percent over the past month, and are up sharply by 18.1 percent in comparison to the same time last year.
Median rents in West Valley City are $1,277 for a one-bedroom apartment and $1,480 for a two-bedroom. The city’s rents have been increasing for 23 straight months – the last time rents declined was in September 2020.
West Jordan rents increase sharply over the past month
West Jordan rents have increased 1.2 percent over the past month, and are up sharply by 7.3 percent  in comparison to the same time last year. Currently, median rents in West Jordan stand at $1,475 for a one-bedroom apartment and $1,740 for a two-bedroom.
This is the second straight month that the city has seen rent increases after a decline in June.
Multifamily Rent Growth Hits A Wall In August
