Salt Lake City Multifamily Report – October 2026
Record deliveries don't mean oversupply in this market. Salt Lake City fundamentals proved resilient going into fall despite pressure from record deliveries. Advertised asking rents rose 0.3 percent, on a trailing three-month basis through August, to $1,578, ahead of the 0.2 percent U.S. increase to $1,773. The area’s 0.4 percent year-over-year uptick matched the national rate. Salt Lake City occupancy in stabilized assets slid 20 basis points year-over-year, to 94.7 percent in July, while the U.S. figure dropped 50 basis points, to 94.2 percent.
