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Salt Lake City

Salt Lake City

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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.

Learn more about the Utah markets from one of our professionals

Learn more about the Utah markets from one of our professionals.