{"id":9631,"date":"2025-05-14T09:17:00","date_gmt":"2025-05-14T09:17:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=9631"},"modified":"2025-11-13T09:25:22","modified_gmt":"2025-11-13T09:25:22","slug":"salt-lake-city-multifamily-market-report-april-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/salt-lake-city-multifamily-market-report-april-2025\/","title":{"rendered":"Salt Lake City Multifamily Market Report \u2013 April 2025"},"content":{"rendered":"\n

Read the latest Yardi Matrix Salt Lake City Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n

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Strong Supply Stalls Rent Gains<\/h2>\n

Salt Lake City\u2019s strong employment growth sustained demand at the start of 2025. Still, due to record supply volume, average advertised asking rents took a hit, according to the latest Yardi Matrix Salt Lake City multifamily market report. The average rate was down 0.3% on a trailing three-month basis, also sliding 1.2% year-over-year, to $1,538 in February. Robust supply also impacted occupancy in stabilized properties, but to a lesser degree. The figure was down 40 basis points year-over-year, to 94.1% as of February. Job growth stood at 2.5% in metro Salt Lake City as of December 2024, nearly double the 1.3% U.S. average and leading all top 30 Yardi Matrix metros, as noted in the most recent national multifamily market report<\/strong><\/a>.<\/p>\n