Apartments for Rent in Salt Lake City, UT under $700 – 3 Rentals available
Salt Lake City’s average rent reached $1,272 in March
Salt Lake City’s average rent reached $1,272 in March, after a 2.3% increase since last year. Renters make up 48% of Salt Lake City’s population. Utah’s capital is a diverse and vibrant place to live in, with apartment rents below the national average of $1,407. [View Full Report]
Salt Lake City’s average rent was $1,272 in March
Salt Lake City’s average rent reached $1,272 in March, after a 2.3% increase since last year. Renters make up 48% of Salt Lake City’s population. Utah’s capital is a diverse and vibrant place to live in, with apartment rents below the national average of $1,407.
The average rent for an apartment in Salt Lake City increased less than in other surrounding areas since last year. In West Jordan, apartments go for $1,239 after a 3.9% increase, and in West Valley City, rent went up by 5.3%, reaching $1,203.
What it costs to rent in the largest renter hubs in the Salt Lake City area
The city with the largest renter share is Provo (57%), where the average rent is $1,459, after a 7% increase, followed by Midvale, where there are 57% renters. Salt Lake City comes in third, with 48% of the population being renters. Clearfield, with an average rent of $1,134, has the fourth largest share of renters (42%) and has experienced a rent increase of 6.3% since March 2020. In Ogden, where 39% of the population are renters, the average rent is $997, registering an increase of 4% compared to last year.
The priciest and cheapest cities for renters in the Salt Lake City area
Provo is the priciest city for renters in the Salt Lake City area, with apartments going for $1,459 per month. The average rent for apartments in South Jordan is $1,401, the second most expensive, while Herriman ($1,393) comes in third.
For renters in search of budget-friendly apartments, Ogden's $997 average rent is the cheapest in the Salt Lake City area, followed by Taylorsville's $1,048 rate. Clearfield rentals are the third least pricey on the list, with a $1,134 average apartment rate.
Salt Lake City apartment rents in popular ZIP codes for renters
Among Salt Lake City's most popular renter ZIP codes, 84116 has a $1,085 average rent, below the city average ($1,272). At the same time, rentals in ZIP 84107 go for $1,093, while prices in ZIP 84123 circle around $1,063. Apartment rents in ZIP 84111 clock in at around $1,450, higher than the Salt Lake City average, while rates in ZIP 84103 average at $1,706.
Check out how average rents evolved across the Salt Lake City area
RENTCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.
The data on average rents included in our reports comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units.
Salt Lake City, UT Demographics
- Total Population197,756
Female 100,748Male 97,008
- Median Age32.3
Average Rent in Salt Lake City, UT
- Salt Lake City, UT Average Rental Price, March 2021 $1,272 /mo
Salt Lake City, UT Apartment Rent Ranges
- > $2,0005%
Salt Lake City, UT Rent Trends
|Nov / 2017||Mar / 2018||Jul / 2018||Nov / 2018||Mar / 2019||Jul / 2019||Nov / 2019||Mar / 2020||Jul / 2020||Nov / 2020||Mar / 2021|
Salt Lake City, UT Households
- Total Number of Households79,264
Family 39,934Non-family 39,330
Children 19,062No Children 60,202
- Average People Per Household2.42
- Median Household Income$60,676
- Median Housing Costs Per Month$1,078
Salt Lake City, UT Education Statistics
- No High School5%
- Some High School25%
- Some College21%
- Associate Degree7%
- Bachelor Degree24%
- Graduate Degree18%