Are Residential Rental Rates Going Up or Down for 2026? | CRM Real Estate Utah
Utah Rental Market Analysis · June 2026
Are Residential Rental Rates
Going Up or Down for 2026?
A county-by-county breakdown across Salt Lake, Utah, Tooele, Davis & Weber — covering single-family homes, duplexes, triplexes, and fourplexes.
📍 Salt Lake · Utah · Davis · Weber · Tooele Counties
🏠 SFR · Duplex · Triplex · Fourplex
📊 CRM Real Estate Research, June 2026
$1,592
AVG SLC APT RENT
−63%
PERMIT DROP FROM 2021
88%
RENTERS CAN'T AFFORD TO BUY
+19%
SL COUNTY SINCE PRE-COVID
The Big Picture
Executive Summary: Utah's Rental Paradox
Utah's rental market in 2026 is living a paradox. On the surface, rents appear to be softening — Salt Lake City's average apartment rent sits at approximately $1,592/month, up a scant 0.31% year-over-year. Zillow classifies Utah's rental market temperature as "COOL." Landlords in downtown Salt Lake are offering concessions. Vacancy rates have climbed to a healthy 5–6%.
And yet, underneath that calm exterior, a supply cliff is forming that almost nobody in the market is talking about. The pipeline of new units — the very supply that tamed rents — is collapsing. Building permits for apartment units have fallen 63% from their 2021 peak of 14,143 statewide. In Salt Lake County alone, only 1,268 units were permitted in 2024 against annual demand of 4,900.
⚡ THE LITTLE-KNOWN FACT THAT CHANGES EVERYTHING
Utah needs 4,500 new rental units annually just to keep pace with population growth. Salt Lake County permitted only 1,268 in 2024 — a 74% shortfall. When today's lease-up wave clears, the pipeline behind it is nearly empty. Rents will not stay cool.
The conclusion: rates are going up — but not today. The window of tenant-favorable rents is 12–18 months. After that, the supply cliff meets the demand wall. What you do right now — whether you're a renter, a landlord, or an investor — will determine which side of that cycle you're on.
Market Snapshot
The Numbers You Need to Know
| Metric |
Figure |
YoY Change |
Source |
| Utah Avg Fair Market Rent | $1,642/mo | +5.86% vs national | HUD / RentalRealEstate.com |
| Utah Avg Rent (all types, Zillow) | $1,875/mo | +$25 vs prior year | Zillow, May 2026 |
| SLC Avg Apt Rent (RentCafe) | $1,592/mo | +0.31% | RentCafe/Yardi Matrix, Jun 2026 |
| Utah vs. National Avg | 10.71% BELOW | Steady | Zillow 2026 |
| SL County Median SFR Rent | $2,475/mo | Softening | Rental Housing Assoc. Utah |
| SLC Rent Increase Since 2020 | +19% | Cumulative | Rental Housing Assoc. Utah |
| Davis County 3BR Avg | $2,174/mo | +3% | Rentometer, Apr 2026 |
| Tooele Avg Apt Rent | $1,649/mo | +3.39% | RentCafe, Jun 2026 |
| Weber/Ogden Avg Rent | $1,395–$1,490 | Flat to +2% | RentHop / Zillow 2026 |
| Statewide Apt Permit Peak | 14,143 units (2021) | −63% to ~5,293 | Gardner Institute / U of U |
| SL County 2024 Permits Issued | 1,268 units | vs. 4,900 needed | Rental Housing Assoc. Utah |
| Utah Renters Who Cannot Buy | 88% | Structural | Rental Housing Assoc. Utah |
📊 Average Rents by County (All Types, 2026 Estimates)
County Intelligence
County-by-County Snapshot
Avg All Rents$1,717/mo
SFR Median$2,475/mo
2BR Apt$1,786/mo
YoY Trend+0.31%
Vacancy5–6%
18-Mo Outlook+3–5%
Provo Apt Avg$1,919/mo
SFR Range$2,200–$2,800
1BR Apt$1,289/mo
YoY Trend+4.06%
Key DriverBYU + Tech
18-Mo Outlook+4–6%
1BR Avg$1,458/mo
2BR Avg$1,576/mo
3BR Avg$2,174/mo
4BR+ Avg$2,501/mo
Key DriverHill AFB
18-Mo Outlook+4–5%
Avg All Rents$1,395/mo
SFR Range$1,800–$2,400
1BR Apt$1,027/mo
YoY TrendFlat to +2%
Cap RatesBest in State
18-Mo Outlook+4–6%
Avg Apt Rent$1,649/mo
SFR Range$1,800–$2,200
2BR Avg$1,585/mo
YoY Trend+3.39%
Duplex SupplyVery Scarce
18-Mo Outlook+6–8%
Salt Lake County Deep Dive
Salt Lake County: Premium, Softening, But Not Falling
Salt Lake County is Utah's rental epicenter — and its most expensive. The downtown core is experiencing elevated vacancy from the lease-up of newly constructed apartment towers, creating a rare window of negotiating power for renters. But suburban neighborhoods like Sugar House, Millcreek, and Rose Park show virtually no concessions. The "free month" deals are in the towers, not the brick duplexes.
| Property Type |
Avg Monthly Rent |
YoY Trend |
Vacancy |
Investor Notes |
| 🏠 Single-Family Home |
$2,475 |
Softening slightly |
4–5% |
Most stable tenants, lowest turnover |
| 🏘️ Duplex (per unit) |
$1,600–$1,900 |
Flat to +2% |
5–6% |
Best entry point; FHA financing eligible |
| 🏗️ Triplex (per unit) |
$1,500–$1,800 |
Flat to +2% |
5–6% |
Vacancy risk spread across 3 units |
| 🏢 Fourplex (per unit) |
$1,400–$1,700 |
Flat to +2% |
5–7% |
Highest aggregate income; max cap rate |
| 🛏️ 2BR Apartment (avg) |
$1,786 |
+0.31% |
5–6% |
Large complex competition is highest here |
| 🛏️ 3BR Apartment (avg) |
$2,139 |
+0.31% |
5–6% |
Underserved family-size market |
📌 THE TOOELE SIGNAL
Tooele County is posting the highest rent growth rate in this analysis: +3.39% YoY while Salt Lake City flatlines at +0.31%. Small multifamily inventory (duplexes, triplexes, fourplexes) in Tooele is nearly nonexistent — creating a scarcity premium for investors who bring new supply. The window won't stay open long.
Davis County — The Undervalued Sweet Spot
Davis County is arguably the most underappreciated rental market on the Wasatch Front. Hill Air Force Base — one of Utah's largest employers — drives year-round, recession-resistant demand that most investors overlook. FrontRunner rail access to both Salt Lake and Ogden gives tenants commuter flexibility that commands a rent premium over comparable Weber County units.
| Unit Size |
Davis County Avg |
Weber County Avg |
SL County Avg |
Davis Premium vs Weber |
| Studio | $1,104 | ~$950 | $1,172 | +$154 |
| 1 Bedroom | $1,458 | $1,027 | $1,429 | +$431 |
| 2 Bedroom | $1,576 | $1,267 | $1,786 | +$309 |
| 3 Bedroom | $2,174 | ~$1,700 | $2,139 | +$474 |
| 4+ Bedroom | $2,501 | ~$2,000 | ~$2,800 | +$501 |
Property Type Analysis
Single-Family vs. Small Multifamily: Where's the Edge?
SL County Median$2,475/mo
Weber County Range$1,800–$2,400
Avg Tenancy2–4 years
Vacancy RiskHigh (100% loss)
FinancingConventional
Mgmt IntensityLow
Per-Unit Rent (SLC)$1,600–$1,900
Per-Unit Rent (Weber)$1,100–$1,500
FHA Down Payment3.5% (owner-occ)
Vacancy RiskMedium (50% loss)
Best StrategyHouse hack entry
Mgmt IntensityLow–Medium
Per-Unit Rent (SLC)$1,500–$1,800
Per-Unit Rent (Weber)$1,000–$1,400
FHA Down Payment3.5% (owner-occ)
Vacancy RiskLower (33% loss)
Best MarketWeber / Tooele
Mgmt IntensityMedium
Per-Unit Rent (SLC)$1,400–$1,700
Per-Unit Rent (Weber)$950–$1,350
FHA Down Payment3.5% (owner-occ)
Vacancy RiskLowest (25% loss)
Best MarketWeber / Ogden
Mgmt IntensityMedium–High
🔑 Weber County's Hidden Advantage
Weber County (Ogden) fourplexes can often be acquired for 20–30% less per door than Salt Lake County comparables — while generating per-unit rents only $150–$250 below SLC rates. The resulting cap rate spread is the single most significant value-arbitrage opportunity on the Wasatch Front right now.
Market Forces
Forces Pulling Rents Up vs. Down
↑ Forces Pushing Rents UP
- 63% permit collapse — pipeline behind current supply is nearly empty
- Utah remains one of the nation's fastest-growing states by population
- Mortgage "lock-in": pandemic homeowners won't sell, keeping demand in rentals
- 88% of renters structurally unable to purchase — permanent demand base
- Tooele County absorbing SLC overflow with near-zero new supply
- Single-family rental scarcity as owners sell rather than rent
- Hill AFB in Davis County: rotation-driven, recession-resistant demand
- Utah median home price hit $575,300 — 5% higher than last year
↓ Forces Holding Rents Flat / Down
- 2021–2023 construction boom units are still in lease-up phase
- Downtown SLC landlords offering free months and deposit concessions
- Davis/Weber combined vacancy at 8.7% (though stabilized units are tighter)
- Economic uncertainty potentially moderating tech sector in-migration
- Utah County oversupply in specific student-market submarkets
- Zillow's "COOL" classification signals below-average demand intensity
- Seasonal softness: Utah rents drop avg. 3.4% in winter months
The CRM Verdict
"The question is not whether Utah rents are going up or down. The question is whether you are positioned to benefit from the next cycle — or simply survive it. The supply cliff is real. The window is 12–18 months. Act accordingly."
What This Means for You
Your Move, Depending on Where You Stand
🏡
If You're a Renter
2026 is your maximum negotiating leverage moment. Lock in a 12–24 month lease now — particularly in downtown SLC or newer complexes. In Tooele and suburban Davis, negotiating power is minimal. The favorable window closes as lease-up units fill.
Find Available Rentals
🔑
If You're a Landlord
Don't test the ceiling on rents right now — minimize vacancy. A tenant who renews is worth more than 60 days of vacancy at a $150 premium. Invest in maintenance, respond fast, price to occupy. The up-cycle will reward you.
Explore Property Management
📈
If You're an Investor
The acquisition window is now. "Cool" markets moderate prices. Weber County fourplexes and Tooele duplexes offer the highest cap rates in years. Davis County offers the best stability-plus-appreciation combination. Buy in the cool; profit in the hot.
Explore Investment Properties
18-Month Outlook
Forecast by County: The Next 18 Months
| Salt Lake |
Flat to +2% |
+3–5% |
Duplex/SFR in suburbs |
Downtown lease-up concessions |
| Utah County |
+2–4% |
+4–6% |
Fourplex near tech/BYU |
Student lease seasonality |
| Davis |
+2–3% |
+4–5% |
SFR near Hill AFB |
New unit pipeline 2025–26 |
| Weber |
+2–4% |
+4–6% |
Fourplex in Ogden proper |
Older stock maintenance costs |
| Tooele |
+4–6% |
+6–8% |
Duplex/triplex (very scarce) |
Commute risk if remote work rises |
📌 Bottom Line
Utah's rental market is not going down. It is pausing — catching its breath after a historic run. The 63% collapse in building permits is not a rounding error: it's the most important number in Utah real estate for 2027 and beyond. The forces of structural demand remain as powerful as ever. Soft rents are temporary. Position yourself accordingly.
Ready to Navigate Utah's Rental Market with Confidence?
CRM Real Estate & Property Management brings deep expertise across all five counties — for renters, landlords, and investors alike.
Data Sources & Disclaimer: Data sourced from RentCafe/Yardi Matrix, Zillow Rental Manager, Zumper, Rentometer, RentHop, Rent.com, Rental Housing Association of Utah, Gardner Policy Institute at the University of Utah, and HUD Fair Market Rents. All figures are estimates based on available market data as of June 2026 and should be independently verified through personal inspection and with appropriate real estate and financial professionals. This article is for informational purposes only and does not constitute financial, investment, legal, or property management advice. CRM Real Estate & Property Management is licensed with the State of Utah under Utah Code Title 61, Chapter 2f.
Are Residential Rental Rates Going Up or Down for 2026? | CRM Real Estate Utah
Utah Rental Market Analysis · June 2026
Are Residential Rental Rates
Going Up or Down for 2026?
A county-by-county breakdown across Salt Lake, Utah, Tooele, Davis & Weber — covering single-family homes, duplexes, triplexes, and fourplexes.
📍 Salt Lake · Utah · Davis · Weber · Tooele Counties
🏠 SFR · Duplex · Triplex · Fourplex
📊 CRM Real Estate Research, June 2026
$1,592
AVG SLC APT RENT
−63%
PERMIT DROP FROM 2021
88%
RENTERS CAN'T AFFORD TO BUY
+19%
SL COUNTY SINCE PRE-COVID
The Big Picture
Executive Summary: Utah's Rental Paradox
Utah's rental market in 2026 is living a paradox. On the surface, rents appear to be softening — Salt Lake City's average apartment rent sits at approximately $1,592/month, up a scant 0.31% year-over-year. Zillow classifies Utah's rental market temperature as "COOL." Landlords in downtown Salt Lake are offering concessions. Vacancy rates have climbed to a healthy 5–6%.
And yet, underneath that calm exterior, a supply cliff is forming that almost nobody in the market is talking about. The pipeline of new units — the very supply that tamed rents — is collapsing. Building permits for apartment units have fallen 63% from their 2021 peak of 14,143 statewide. In Salt Lake County alone, only 1,268 units were permitted in 2024 against annual demand of 4,900.
⚡ THE LITTLE-KNOWN FACT THAT CHANGES EVERYTHING
Utah needs 4,500 new rental units annually just to keep pace with population growth. Salt Lake County permitted only 1,268 in 2024 — a 74% shortfall. When today's lease-up wave clears, the pipeline behind it is nearly empty. Rents will not stay cool.
The conclusion: rates are going up — but not today. The window of tenant-favorable rents is 12–18 months. After that, the supply cliff meets the demand wall. What you do right now — whether you're a renter, a landlord, or an investor — will determine which side of that cycle you're on.
Market Snapshot
The Numbers You Need to Know
| Metric |
Figure |
YoY Change |
Source |
| Utah Avg Fair Market Rent | $1,642/mo | +5.86% vs national | HUD / RentalRealEstate.com |
| Utah Avg Rent (all types, Zillow) | $1,875/mo | +$25 vs prior year | Zillow, May 2026 |
| SLC Avg Apt Rent (RentCafe) | $1,592/mo | +0.31% | RentCafe/Yardi Matrix, Jun 2026 |
| Utah vs. National Avg | 10.71% BELOW | Steady | Zillow 2026 |
| SL County Median SFR Rent | $2,475/mo | Softening | Rental Housing Assoc. Utah |
| SLC Rent Increase Since 2020 | +19% | Cumulative | Rental Housing Assoc. Utah |
| Davis County 3BR Avg | $2,174/mo | +3% | Rentometer, Apr 2026 |
| Tooele Avg Apt Rent | $1,649/mo | +3.39% | RentCafe, Jun 2026 |
| Weber/Ogden Avg Rent | $1,395–$1,490 | Flat to +2% | RentHop / Zillow 2026 |
| Statewide Apt Permit Peak | 14,143 units (2021) | −63% to ~5,293 | Gardner Institute / U of U |
| SL County 2024 Permits Issued | 1,268 units | vs. 4,900 needed | Rental Housing Assoc. Utah |
| Utah Renters Who Cannot Buy | 88% | Structural | Rental Housing Assoc. Utah |
📊 Average Rents by County (All Types, 2026 Estimates)
County Intelligence
County-by-County Snapshot
Avg All Rents$1,717/mo
SFR Median$2,475/mo
2BR Apt$1,786/mo
YoY Trend+0.31%
Vacancy5–6%
18-Mo Outlook+3–5%
Provo Apt Avg$1,919/mo
SFR Range$2,200–$2,800
1BR Apt$1,289/mo
YoY Trend+4.06%
Key DriverBYU + Tech
18-Mo Outlook+4–6%
1BR Avg$1,458/mo
2BR Avg$1,576/mo
3BR Avg$2,174/mo
4BR+ Avg$2,501/mo
Key DriverHill AFB
18-Mo Outlook+4–5%
Avg All Rents$1,395/mo
SFR Range$1,800–$2,400
1BR Apt$1,027/mo
YoY TrendFlat to +2%
Cap RatesBest in State
18-Mo Outlook+4–6%
Avg Apt Rent$1,649/mo
SFR Range$1,800–$2,200
2BR Avg$1,585/mo
YoY Trend+3.39%
Duplex SupplyVery Scarce
18-Mo Outlook+6–8%
Salt Lake County Deep Dive
Salt Lake County: Premium, Softening, But Not Falling
Salt Lake County is Utah's rental epicenter — and its most expensive. The downtown core is experiencing elevated vacancy from the lease-up of newly constructed apartment towers, creating a rare window of negotiating power for renters. But suburban neighborhoods like Sugar House, Millcreek, and Rose Park show virtually no concessions. The "free month" deals are in the towers, not the brick duplexes.
| Property Type |
Avg Monthly Rent |
YoY Trend |
Vacancy |
Investor Notes |
| 🏠 Single-Family Home |
$2,475 |
Softening slightly |
4–5% |
Most stable tenants, lowest turnover |
| 🏘️ Duplex (per unit) |
$1,600–$1,900 |
Flat to +2% |
5–6% |
Best entry point; FHA financing eligible |
| 🏗️ Triplex (per unit) |
$1,500–$1,800 |
Flat to +2% |
5–6% |
Vacancy risk spread across 3 units |
| 🏢 Fourplex (per unit) |
$1,400–$1,700 |
Flat to +2% |
5–7% |
Highest aggregate income; max cap rate |
| 🛏️ 2BR Apartment (avg) |
$1,786 |
+0.31% |
5–6% |
Large complex competition is highest here |
| 🛏️ 3BR Apartment (avg) |
$2,139 |
+0.31% |
5–6% |
Underserved family-size market |
📌 THE TOOELE SIGNAL
Tooele County is posting the highest rent growth rate in this analysis: +3.39% YoY while Salt Lake City flatlines at +0.31%. Small multifamily inventory (duplexes, triplexes, fourplexes) in Tooele is nearly nonexistent — creating a scarcity premium for investors who bring new supply. The window won't stay open long.
Davis County — The Undervalued Sweet Spot
Davis County is arguably the most underappreciated rental market on the Wasatch Front. Hill Air Force Base — one of Utah's largest employers — drives year-round, recession-resistant demand that most investors overlook. FrontRunner rail access to both Salt Lake and Ogden gives tenants commuter flexibility that commands a rent premium over comparable Weber County units.
| Unit Size |
Davis County Avg |
Weber County Avg |
SL County Avg |
Davis Premium vs Weber |
| Studio | $1,104 | ~$950 | $1,172 | +$154 |
| 1 Bedroom | $1,458 | $1,027 | $1,429 | +$431 |
| 2 Bedroom | $1,576 | $1,267 | $1,786 | +$309 |
| 3 Bedroom | $2,174 | ~$1,700 | $2,139 | +$474 |
| 4+ Bedroom | $2,501 | ~$2,000 | ~$2,800 | +$501 |
Property Type Analysis
Single-Family vs. Small Multifamily: Where's the Edge?
SL County Median$2,475/mo
Weber County Range$1,800–$2,400
Avg Tenancy2–4 years
Vacancy RiskHigh (100% loss)
FinancingConventional
Mgmt IntensityLow
Per-Unit Rent (SLC)$1,600–$1,900
Per-Unit Rent (Weber)$1,100–$1,500
FHA Down Payment3.5% (owner-occ)
Vacancy RiskMedium (50% loss)
Best StrategyHouse hack entry
Mgmt IntensityLow–Medium
Per-Unit Rent (SLC)$1,500–$1,800
Per-Unit Rent (Weber)$1,000–$1,400
FHA Down Payment3.5% (owner-occ)
Vacancy RiskLower (33% loss)
Best MarketWeber / Tooele
Mgmt IntensityMedium
Per-Unit Rent (SLC)$1,400–$1,700
Per-Unit Rent (Weber)$950–$1,350
FHA Down Payment3.5% (owner-occ)
Vacancy RiskLowest (25% loss)
Best MarketWeber / Ogden
Mgmt IntensityMedium–High
🔑 Weber County's Hidden Advantage
Weber County (Ogden) fourplexes can often be acquired for 20–30% less per door than Salt Lake County comparables — while generating per-unit rents only $150–$250 below SLC rates. The resulting cap rate spread is the single most significant value-arbitrage opportunity on the Wasatch Front right now.
Market Forces
Forces Pulling Rents Up vs. Down
↑ Forces Pushing Rents UP
- 63% permit collapse — pipeline behind current supply is nearly empty
- Utah remains one of the nation's fastest-growing states by population
- Mortgage "lock-in": pandemic homeowners won't sell, keeping demand in rentals
- 88% of renters structurally unable to purchase — permanent demand base
- Tooele County absorbing SLC overflow with near-zero new supply
- Single-family rental scarcity as owners sell rather than rent
- Hill AFB in Davis County: rotation-driven, recession-resistant demand
- Utah median home price hit $575,300 — 5% higher than last year
↓ Forces Holding Rents Flat / Down
- 2021–2023 construction boom units are still in lease-up phase
- Downtown SLC landlords offering free months and deposit concessions
- Davis/Weber combined vacancy at 8.7% (though stabilized units are tighter)
- Economic uncertainty potentially moderating tech sector in-migration
- Utah County oversupply in specific student-market submarkets
- Zillow's "COOL" classification signals below-average demand intensity
- Seasonal softness: Utah rents drop avg. 3.4% in winter months
The CRM Verdict
"The question is not whether Utah rents are going up or down. The question is whether you are positioned to benefit from the next cycle — or simply survive it. The supply cliff is real. The window is 12–18 months. Act accordingly."
What This Means for You
Your Move, Depending on Where You Stand
🏡
If You're a Renter
2026 is your maximum negotiating leverage moment. Lock in a 12–24 month lease now — particularly in downtown SLC or newer complexes. In Tooele and suburban Davis, negotiating power is minimal. The favorable window closes as lease-up units fill.
Find Available Rentals
🔑
If You're a Landlord
Don't test the ceiling on rents right now — minimize vacancy. A tenant who renews is worth more than 60 days of vacancy at a $150 premium. Invest in maintenance, respond fast, price to occupy. The up-cycle will reward you.
Explore Property Management
📈
If You're an Investor
The acquisition window is now. "Cool" markets moderate prices. Weber County fourplexes and Tooele duplexes offer the highest cap rates in years. Davis County offers the best stability-plus-appreciation combination. Buy in the cool; profit in the hot.
Explore Investment Properties
18-Month Outlook
Forecast by County: The Next 18 Months
| Salt Lake |
Flat to +2% |
+3–5% |
Duplex/SFR in suburbs |
Downtown lease-up concessions |
| Utah County |
+2–4% |
+4–6% |
Fourplex near tech/BYU |
Student lease seasonality |
| Davis |
+2–3% |
+4–5% |
SFR near Hill AFB |
New unit pipeline 2025–26 |
| Weber |
+2–4% |
+4–6% |
Fourplex in Ogden proper |
Older stock maintenance costs |
| Tooele |
+4–6% |
+6–8% |
Duplex/triplex (very scarce) |
Commute risk if remote work rises |
📌 Bottom Line
Utah's rental market is not going down. It is pausing — catching its breath after a historic run. The 63% collapse in building permits is not a rounding error: it's the most important number in Utah real estate for 2027 and beyond. The forces of structural demand remain as powerful as ever. Soft rents are temporary. Position yourself accordingly.
Ready to Navigate Utah's Rental Market with Confidence?
CRM Real Estate & Property Management brings deep expertise across all five counties — for renters, landlords, and investors alike.
Data Sources & Disclaimer: Data sourced from RentCafe/Yardi Matrix, Zillow Rental Manager, Zumper, Rentometer, RentHop, Rent.com, Rental Housing Association of Utah, Gardner Policy Institute at the University of Utah, and HUD Fair Market Rents. All figures are estimates based on available market data as of June 2026 and should be independently verified through personal inspection and with appropriate real estate and financial professionals. This article is for informational purposes only and does not constitute financial, investment, legal, or property management advice. CRM Real Estate & Property Management is licensed with the State of Utah under Utah Code Title 61, Chapter 2f.
