Per Zillow, Salt Lake City is #20 in the list of the 20 most affordable rental markets in the United States at an average monthly rent of $1,656. In the state of California, the average state-wide rent is $1,927 (no specific cities in California were addressed). The state of Hawaii holds the highest average rent honor but the article does not provide the amount. Nor does the article define the city with the highest average rent in the United States. At the other end of the spectrum, Buffalo, NY comes in as the most affordable city in which to rent at an average rental amount $1,282. Salt Lake’s rent grew by 1.60% over the last 12 months per the article. I was staggered by the statement that since the pandemic began (March-2020), and through February 2024, average rents have increased by 23.6% across the country.

 

 

Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management, brokerage listings and sales, and all aspects of a multifamily investment. Specific diligence regards property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets which it defines generally as 10-to-60-unit properties.

 

Please find us at svikhart.com or contact us at 801-550-5684 to learn about the real estate services the firm provides. To subscribe to the firm’s newsletter addressing events of the day please follow this link Newsletters.