{"id":77329,"date":"2019-06-15T07:25:40","date_gmt":"2019-06-15T14:25:40","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=77329"},"modified":"2019-07-09T07:06:37","modified_gmt":"2019-07-09T14:06:37","slug":"utah-rent-report-may-2019","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/utah-rent-report-may-2019\/","title":{"rendered":"Utah Rent Report &#8211; May 2019"},"content":{"rendered":"<ul>\n<li><em>The national average rent reached $1,442\u00a0in May 2019, up by 2.5% ($35) year over year, and by 0.3% ($5) month over month, according to\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">Yardi Matrix<\/a>\u00a0data.<\/em><\/li>\n<li><em>Clearfield, UT renters saw the highest annual rent increase in May, reaching $1,037 per month.\u00a0<\/em><\/li>\n<li><em>Provo apartments are the most expensive among the state&#8217;s largest cities, while apartments in Ogden have the cheapest rents.\u00a0<\/em><\/li>\n<\/ul>\n<h3><strong>The national average rent in May went up by 2.5% year-over-year\u00a0\u00a0<\/strong><\/h3>\n<p>Average rent prices went up by 2.5% year-over-year in May and reached a\u00a0<strong>$1,442\u00a0<\/strong>monthly\u00a0average. Nationally, rents maintain a strong month-over-month growth, but the annual increase is the slowest we\u2019ve seen in 18 months. Residential rents are rising\u00a0steadily across cities, with the third month in a row sprouting a 0.3% month-over-month jump.\u00a0Compared to last May, renters pay $35 more on average, according\u00a0to the latest\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">Yardi Matrix<\/a>\u00a0data on apartment market trends<\/p>\n<h3>Renting in Utah&#8217;s cities in May 2019<\/h3>\n<p>The average rent in Utah&#8217;s largest cities is generally lower than the national average rent. The fastest-growing rents in May were in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/clearfield-ut\/\">Clearfield<\/a>, where rental apartment\u00a0prices increased by 8.2% over the year, meaning $79 more per month. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ogden-ut\/\">Ogden apartments<\/a> saw the second-highest annual increase, jumping by 6.3%\u00a0\u2014 $53 more expensive than the same month last year. The slowest rising rents were in Riverton, where rent prices decreased by 3.3% y-o-y.<\/p>\n<p><script id=\"infogram_0_8d91497c-271f-4058-8601-7176e7fe5c3f\" title=\"Utah - RentReport May\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?R2P\" type=\"text\/javascript\"><\/script><\/p>\n<p>Of the cities analyzed, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/provo-ut\/\">Provo apartments<\/a> are the state&#8217;s most expensive for renters, with the $1,424 average rent coming close to the national average, followed by <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/south-jordan-ut\/\">apartments in South Jordan<\/a>, where rents are $1,307 on average. On the other hand, the cheapest city to rent an apartment is <strong>Ogden<\/strong>, with an average rent of $901.<\/p>\n<p>Among the largest cities in Utah, Salt Lake City and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/west-jordan-ut\/\">West\u00a0Jordan<\/a> were hot on their heels behind <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/provo-ut\/\">Provo<\/a>, with\u00a0average rents reaching $1,209 and $1,160 respectively. As far as the fastest rent increase, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/salt-lake-city-ut\/\">Salt Lake City<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/west-valley-city-ut\/\">West Valley City<\/a> came in 2nd and 3rd after Provo, with changes of 4.8% and 3.1% respectively.<\/p>\n<h3>Methodology<\/h3>\n<div>\n<div>\n<p><em><u><a tabindex=\"-1\" title=\"https:\/\/www.rentcafe.com\/\" href=\"https:\/\/www.rentcafe.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">RentCafe.com<\/a><\/u>\u00a0is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/p>\n<p><em>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 <\/em><u><i><a tabindex=\"-1\" title=\"https:\/\/www.yardimatrix.com\/\" href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Yardi Matrix<\/a><\/i><\/u><em>, 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.<\/em><\/p>\n<\/div>\n<\/div>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<h3>Fair use and redistribution<\/h3>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The national average rent reached $1,442\u00a0in May 2019, up by 2.5% ($35) year over year, and by 0.3% ($5) month over month, according to\u00a0Yardi Matrix\u00a0data. Clearfield, UT renters saw the highest annual rent increase in May, reaching $1,037 per month.\u00a0 Provo apartments are the most expensive among the state&#8217;s largest cities, while apartments in Ogden&hellip;<\/p>\n","protected":false},"author":151,"featured_media":77920,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16366],"tags":[],"class_list":["post-77329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-rent-reports","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Utah Rent Report - May 2019 - RentCafe rental blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/utah-rent-report-may-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Utah Rent Report - May 2019\" \/>\n<meta property=\"og:description\" content=\"The national average rent reached $1,442\u00a0in May 2019, up by 2.5% ($35) year over year, and by 0.3% ($5) month over month, according to\u00a0Yardi Matrix\u00a0data. 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