Report: SLC rent up 7.7% from last year, 3.3% from last month

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FILE – In this Jan. 27, 2021, file photo, a “For Rent” sign is posted in Sacramento, Calif. California, for decades a symbol of boundless growth and opportunity that attracted people from across the U.S. and abroad, has stagnated. Census data expected later this month will reveal what demographers and observers have long known: That California is now growing at a record slow rate and behind rival political states like Texas and Florida. That could cause the state to lose a U.S. House seat for the first time in its history. (AP Photo/Rich Pedroncelli, File)

SALT LAKE CITY, Utah (ABC4) – A recently published report shows rent in Salt Lake City is on the rise.

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According to a report from apartmentlist.com, rent has increased by 7.7% from 2020, and 3.3% from last month.

Its the sixth straight month that SLC has seen rent increases.

At the time of publishing this story, the median rents in Salt Lake City stand at $996 for a one-bedroom apartment and $1,274 for a two-bedroom.

SLC’s 7.7% year-over -year growth is less than that of the state’s average of 9.4%, but above the national average of 5.3%.

Despite increases in rent prices, Salt Lake City boasts a more affordable rent compared to many other large cities in the country, such as New York and San Francisco.

However, New York City and San Francisco saw decreases in rent prices over the past year, with a 14.3% decrease for San Francisco and and 10.2% decrease for New York City.

To read the full report, click here

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