Salt Lake City’s Apartment Market Is a Beacon of Stability in Region

As major apartment markets in neighboring states show signs of weakness, Salt Lake City has emerged as a beacon of stability in the region. At about 11% annual rent growth as of mid-August, the Utah state capital is a top-five performer in the nation among metros with a population greater than 1 million. Despite being one of the more aggressively built apartment markets in the U.S., at 6.3%, vacancies remain below their historical average thanks to consistent demand.