Median rents, rental comps, and market trends across 10 zip codes in Salt Lake City, UT.
Mountains on one side, lake on the other — there is physically nowhere left to build. Supply constraints here aren't cyclical, they're geological. That's about as bullish a long-term thesis as you'll find for a rental market.
Median Asking Rent
$1,356
Rent Change (YoY)
-8.3%
Avg Days on Market
57
Active Rental Listings
1,206
Median List Price
$548,950
Average across 10 zip codes
ZIP | Median Rent |
|---|---|
| 84108 | $2,295/mo |
| 84106 | $1,700/mo |
| 84104 | $1,496/mo |
| 84105 | $1,400/mo |
| 84101 | $1,349/mo |
| 84115 | $1,299/mo |
| 84111 | $1,265/mo |
| 84116 | $1,249/mo |
| 84103 | $1,233/mo |
| 84102 | $1,200/mo |
Get rental comps for any property in Salt Lake City
Search any address for rent estimates and comparable rentals.
| Unit Size | Median Rent |
|---|---|
| Studio | $1,106/mo |
| 1 Bedroom | $1,097/mo |
| 2 Bedroom | $1,475/mo |
| 3 Bedroom | $2,150/mo |
| 4 Bedroom | $2,750/mo |
Aggregated median across all Salt Lake City zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 84108 | $950,000 |
| 84103 | $814,900 |
| 84105 | $799,950 |
| 84106 | $620,000 |
| 84111 | $568,000 |
| 84101 | $529,900 |
| 84102 | $499,000 |
| 84115 | $469,000 |
| 84116 | $449,900 |
| 84104 | $394,000 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $1,170/mo |
| 1 Bedroom | $1,360/mo |
| 2 Bedroom | $1,630/mo |
| 3 Bedroom | $2,180/mo |
| 4 Bedroom | $2,490/mo |
Fair Market Rents are published annually by HUD for the Salt Lake City metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Salt Lake City, UT is currently $1,356/month, based on active rental listings across 10 zip codes. Median asking rents have decreased by -8.3% over the past 12 months.
Asking rents vary significantly across the city. ZIP 84108 has the highest median asking rent at $2,295/month, while ZIP 84102 comes in at $1,200/month.
Rental listings in the area spend an average of 57 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Salt Lake City metro area is $1,630/month. Current median asking rents are near or below the FMR for this area.
SLC is boxed in by geography. The Wasatch Mountains to the east and the Great Salt Lake to the west mean there's a hard limit on where new housing can go. That structural supply constraint, combined with the Silicon Slopes tech corridor and steady population growth, keeps the market tight. One thing that's unique about Utah — household sizes are larger than the national average, so there's stronger demand for 3 and 4-bedroom rentals than in most cities. Sugar House, the Avenues, and downtown are premium. West side of the valley is more affordable. The supply constraint here isn't going away, which gives landlords a long-term tailwind.
Want to look up rental comps and rent estimates for a specific property in Salt Lake City? PropMetrics lets you search any address and get detailed rental data instantly.
Get rent estimates, comparable rentals, and market data for any property in Salt Lake City, UT. Free to start.
What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.