Salt Lake City Apartment Rent: About to Rise

The National Association of Realtors recently predicted that we’re going to start seeing an increase in apartment rent across the country.

Lawrence Yun, their chief economist recently said:

Apartment rent increases are expected to accelerate from job creation leading to new household formation, particularly among the young adult population who will seek their own housing arrangements — many will be leaving their parents’ homes, or choose to live with fewer roommates,

Apparently, rent is supposed to increase by 3.4% this year, which means that if your rent is currently $600/month, you can expect an estimated $20.40 increase sometime soon.

While that amount isn’t a huge deal when it’s measured by itself, once you consider the increases in gas prices, groceries and other necessities, increased rent is the last thing Salt Lake City apartment-dwellers want to see.

What about you? How much would your rent have to go up before you’d look for a new place to live?

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