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