Salt Lake City rents and rental comps

The median asking rent across Salt Lake City, UT sits at $1,462/month, pulled from active rental listings in 13 zip codes. That's down 5.3% from a year ago.

Rents aren't uniform across the city. ZIP 84108 tops the list at $2,395/month. ZIP 84103 comes in lowest at $1,250/month. That's a 92% spread between the top and bottom zip codes, which is wide. City-wide averages won't tell you much about a specific property here.

A 2-bedroom rents for $1,550/month at the median. 1-bedrooms run about $1,151. 3-bedrooms come in around $2,299.

Listings take longer here. The average is 45 days on market, which gives renters more room to negotiate and means landlords should price carefully.

Rent-to-price math is tight in Salt Lake City. The gross figure sits at about 3.5% ($1,462/month against $497,400 median price). Most investors here are betting on appreciation, not monthly cash flow.

HUD's Fair Market Rent for a 2-bedroom in the Salt Lake City metro is $1,630/month. Asking rents come in about 10% below the federal benchmark, which can make Section 8 properties competitive here.

SLC is boxed in by geography. The Wasatch Mountains to the east and the Great Salt Lake to the west create a hard ceiling on where new housing can go. That structural supply constraint, plus the Silicon Slopes tech corridor and steady population growth, keeps the market tight. Utah household sizes run larger than the national average, so demand for 3 and 4-bedroom rentals is stronger here than most cities. Sugar House, the Avenues, and downtown are premium. West side of the valley is more affordable. The geographic constraint isn't going anywhere. That's a long-term tailwind landlords don't get in most metros.

These numbers are city-wide averages. If you're pricing a specific property in Salt Lake City, pull comps from the same zip code. The spread is usually bigger than people expect.