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Apartments for Rent in Salt Lake City, UT under $700 – 3 Rentals available

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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 apartment rent 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.

Salt Lake City apartment rent report

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

Pittsburgh apartment rent report

Methodology

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 100,748
    Male 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

    • $701-$1,00022%
    • $1,001-$1,50058%
    • $1,501-$2,00015%
    • > $2,0005%

    Salt Lake City, UT Rent Trends

    Average Rent 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 $1,117 $1,112 $1,160 $1,198 $1,200 $1,235 $1,253 $1,244 $1,239 $1,258 $1,272
    National $1,315 $1,346 $1,355 $1,359 $1,356 $1,391 $1,398 $1,400 $1,390 $1,395 $1,407
    /

    Check out the average rent prices in Salt Lake City by neighborhood.

    Salt Lake City, UT Households

    • Total Number of Households79,264
    • Family 39,934
      Non-family 39,330
    • Children 19,062
      No 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%