{"id":836,"date":"2021-04-29T08:16:37","date_gmt":"2021-04-29T08:16:37","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=836"},"modified":"2023-09-12T15:50:43","modified_gmt":"2023-09-12T15:50:43","slug":"salt-lake-city-multifamily-market-report-spring-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/salt-lake-city-multifamily-market-report-spring-2021\/","title":{"rendered":"Salt Lake City Multifamily Market Report \u2013 Spring 2021"},"content":{"rendered":"\n

Wasatch Front Up for Fast-Paced Recovery<\/strong><\/h2>\n\n\n\n

Backed by a diverse economy, a highly skilled workforce and relative affordability, Salt Lake City<\/a><\/strong> has proved highly resilient in the face of adversity. At 0.4% on a trailing three-month basis through February, rate growth has been positive for the ninth consecutive month. Average rents clocked in at $1,249 in February, $150 below the national figure.<\/p>\n\n\n\n

At 3.5% as of January, the unemployment rate in Salt Lake City was among the lowest in the country. In 2020, trade, transportation and utilities added 13,700 positions\u2014a 5.2% improvement\u2014while the government and construction sectors added 3,500 jobs and 3,300 jobs, respectively. Overall, employment contracted by only 1.1%, well above the national rate, mainly due to Salt Lake City\u2019s strong economy preceding the pandemic. Many large employers\u2014including Amazon, eBay and Adobe\u2014are establishing roots in Utah, taking advantage of the highly educated employment base, low cost of doing business and ease of air travel. Due to Salt Lake City\u2019s location, the industrial sector has also been recording strong growth.<\/p>\n\n\n\n

Over the first two months of 2021, developers completed 254 units and investors closed on only three significant deals. Despite the slow start, Salt Lake City is positioned to follow up on its swift rebound, as multifamily demand remains healthy.<\/p>\n\n\n\n

Read the full Matrix Multifamily Salt Lake City Report-Spring 2021<\/a><\/strong><\/p>\n\n\n\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Wasatch Front Up for Fast-Paced Recovery Backed by a diverse economy, a highly skilled workforce and relative affordability, Salt Lake City has proved highly resilient in the face of adversity. At 0.4% on a trailing three-month basis through February, rate growth has been positive for the ninth consecutive month. Average rents clocked in at $1,249 […]<\/p>\n","protected":false},"author":650,"featured_media":837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,122],"class_list":["post-836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","tag-salt-lake-city"],"yoast_head":"\nSalt Lake City Multifamily Market Report \u2013 Spring 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Backed by a diverse economy, a highly skilled workforce and relative affordability, Salt Lake City has proved highly resilient in the face of adversity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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