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Utah
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VACANCY
Apartment
Average Vacancy Rate 5.0%
- Drifted downward by 20 basis points.
- Expected to finish 2021 at 5.5%.
Distribution / Warehousing
Average Vacancy Rate 6.8%
- Drifted downward by 10 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2021 at 5.9%.
Office
Average Vacancy Rate 18.3%
- Rose by 90 basis points.
- Highest level since Q3 2004.
- Expected to finish 2021 at 19.3%.
Retail
Average Vacancy Rate 11.4%
- Drifted downward by 10 basis points.
- Lowest level since Q2 2009.
- Expected to finish 2021 at 13.0%.
RENT
Apartment
Average Asking Rent $1,092
- Up 0.3% from year-end 2020.
- Expected to finish 2021 at $1,127.
Distribution / Warehousing
Average Asking Rent $6.29
- Up 0.2% from year-end 2020.
- Has risen in every quarter since Q2 2017.
- Expected to finish 2021 at $6.46.
Office
Average Asking Rent $20.94
- Up 0.6% from year-end 2020.
- Fastest rate of increase in four quarters.
- Expected to finish 2021 at $20.38.
Retail
Average Asking Rent $18.23
- Down 0.3% from year-end 2020.
- Expected to finish 2021 at $17.31.