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Utah
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VACANCY
Apartment
The average Vacancy Rate was 5.7% in the Salt Lake City metro
- Vacancy in the Salt Lake City metro rose by 60 basis points.
- The Salt Lake City metro had the highest vacancy level since Q1 2020.
Distribution / Warehousing
The average Vacancy Rate was 7.5% in the Salt Lake City metro
- Vacancy in the Salt Lake City metro rose by 100 basis points.
- The Salt Lake City metro had the highest vacancy level since Q2 2020.
Office
The average Vacancy Rate was 20.2% in the Salt Lake City metro
- Vacancy in the Salt Lake City metro rose by 130 basis points.
- The Salt Lake City metro had the highest vacancy level since Q2 2004.
Retail
The average Vacancy Rate was 11.7% in the Salt Lake City metro
- Vacancy in the Salt Lake City metro drifted upward by 20 basis points.
- The Salt Lake City metro had the highest vacancy level since Q3 2019.
RENT
Apartment
The average Asking Rent was $1,374 in the Salt Lake City metro
- Rent in the Salt Lake City metro was up 1.5% from Q3 2023.
- Salt Lake City metro had its fastest rent rate of increase in six quarters.
Distribution / Warehousing
The average Asking Rent was $8.29 in the Salt Lake City metro
- Rent in the Salt Lake City metro was up 0.9% from Q3 2023.
- Rent has risen in every quarter since Q1 2017 in the Salt Lake City metro.