Salt Lake City rents have increased 0.2 percent over the past month, the second straight month that the city has seen rent increases after a decline in September, according to the latest report from Apartment List.
Rents are up 1.7 percent year-over-year in the city. Median rents are $878 for a one-bedroom apartment and $1,089 for a two-bedroom.
Ogden rents declined slightly over the past month
Ogden rents have declined 0.2 percent over the past month, but have increased slightly by 1.4 percent in comparison to the same time last year.
Currently, median rents in Ogden are $696 for a one-bedroom apartment and $892 for a two-bedroom. This is the second straight month that the city has seen rent decreases after an increase in September.
Salt Lake City rents more affordable than many large cities nationwide
As rental prices have increased slightly in Salt Lake City, a few large cities nationwide have also seen moderate growth.
Salt Lake City is still more affordable than most large cities across the country.
- Salt Lake City’s median two-bedroom rent of $1,089 is below the national average of $1,191. Nationwide, cost of rentals have grown by 1.4 percent over the past year compared to the 1.7 percent increase in the city.
- While Salt Lake City’s rents rose slightly over the past year, many cities nationwide also saw increases, including Phoenix (+3.9 percent), Dallas (+2.2 percent), and Seattle (+1.6 percent).