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Utah
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VACANCY
Apartment
The average Vacancy Rate was 5.9% in the Salt Lake City metro
- No vacancy change since Q1 2024 in the Salt Lake City metro.
- Vacancy is expected to finish 2024 at 6.3% in the Salt Lake City metro.
Distribution / Warehousing
The average Vacancy Rate was 12.1% in the Salt Lake City metro
- Vacancy in the Salt Lake City metro drifted downward by 40 basis points.
- The Salt Lake City metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 11.9% in the Salt Lake City metro.
Office
The average Vacancy Rate was 19.5% in the Salt Lake City metro
- Vacancy in the Salt Lake City metro fell by 90 basis points.
- Vacancy is expected to finish 2024 at 19.4% in the Salt Lake City metro.
Retail
The average Vacancy Rate was 12.1% in the Salt Lake City metro
- Vacancy in the Salt Lake City metro drifted upward by 10 basis points.
- The Salt Lake City metro had the highest vacancy level since year-end 2018.
- Vacancy is expected to finish 2024 at 12.1% in the Salt Lake City metro.
RENT
Apartment
The average Asking Rent was $1,374 in the Salt Lake City metro
- Rent in the Salt Lake City metro was down 0.1% from Q1 2024.
- Rent is expected to finish 2024 at $1,386 in the Salt Lake City metro.
Distribution / Warehousing
The average Asking Rent was $8.34 in the Salt Lake City metro
- Rent in the Salt Lake City metro was up 0.1% from Q1 2024.
- Rent has risen in every quarter since Q1 2017 in the Salt Lake City metro.
- Rent is expected to finish 2024 at $8.47 in the Salt Lake City metro.
Office
The average Asking Rent was $22.15 in the Salt Lake City metro
- The Salt Lake City metro remained flat rent since Q1 2024.
- Rent is expected to finish 2024 at $22.33 in the Salt Lake City metro.
Retail
The average Asking Rent was $18.82 in the Salt Lake City metro
- Rent in the Salt Lake City metro was up 0.3% from Q1 2024.
- Rent is expected to finish 2024 at $19.04 in the Salt Lake City metro.