Insights
Utah
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VACANCY
Apartment
Average Vacancy Rate 5.4%
- No change since Q1 2020.
- Highest level since Q2 2011.
- Expected to finish 2020 at 7.5%.
Distribution / Warehousing
Average Vacancy Rate 5.6%
- Eighth lowest in the nation and the fourth lowest in the West.
- Fell by 100 basis points.
- Expected to finish 2019 at 5.7%.
Office
Average Vacancy Rate 17.3%
- Drifted upward by 20 basis points.
- Highest level since Q3 2014.
- Expected to finish 2020 at 19.2%.
Retail
Average Vacancy Rate 11.5%
- Drifted downward by 10 basis points.
- Lowest level since Q2 2009.
- Expected to finish 2020 at 13.4%.
RENT
Apartment
Average Asking Rent $1,088
- Up 0.2% from Q1 2020.
- Has risen in every quarter since Q3 2010.
- Expected to finish 2020 at $1,049.
Distribution / Warehousing
Average Asking Rent $5.70
- Up 0.4% from year-end 2018.
- Has risen for six consecutive quarters.
- Expected to finish 2019 at $5.86.
Office
Average Asking Rent $20.99
- Up 0.2% from Q1 2020.
- Has risen in every quarter since Q3 2012.
- Expected to finish 2020 at $20.31.
Retail
Average Asking Rent $18.32
- Fastest rent growth in the West region, third most rapid in the nation.
- Expected to finish 2020 at $16.85.