Salt Lake City is the foremost flourishing center for commerce, sports, entertainment, culture, and education in the Mountain West. Utah’s capital defies the trends of many urban centers as the forces of decentralization pull people, jobs, and commerce away from [...]
The pandemic years created unmatched volatility in Utah’s housing market. The volatility in these past two years surpassed 50 years of housing history. Building permits for residential units increased by 26% in 2021, only to fall by 26% in 2022. [...]
Utah policymakers have significantly expanded affordable housing programs in response to the housing crisis. As this effort continues, a comparison of state housing programs provides valuable policy insight.
Utah’s renters, like much of the renters across the country, faced dramatic increases in housing costs throughout the pandemic. For the renters across the four Wasatch Front counties, average asking rents increased more in the two-year period between 2020 and [...]
Utah’s renters, like much of the renters across the country faced dramatic increases in housing costs throughout the pandemic. For the renters across the four Wasatch Front counties, average asking rents increased more in the two-year period between 2020 and [...]
In 2022, higher home prices and a doubling of the mortgage rate combined to erode housing affordability. Thus, homeownership has become more difficult for many of Utah’s 333,000 renter households.
During the first six months of 2022, total permitted construction value reached $7.23 billion, a 1.8% decrease over the same time period from 2021 (see Table 1). However, when controlling for inflation, the construction value decreased 6.0% (see Figure 1). [...]
The demand for rental housing increased during the COVID-19 pandemic, resulting in higher rental rates across the Wasatch Front.
After three years of increases, permitted construction value decreased between 2021 Q1 and 2022 Q1. During the first three months of 2022, total permitted construction value reached $3.46 billion, a 2.2% decrease over the same time period from 2021.
The rise of short-term rental (STR) properties exploded globally over the last decade. Listing platforms such as AirBnB, Booking.com, and VRBO became readily accessible to individuals to list their properties to generate additional income and provide services to out-of-town visitors.
Thomas S. Monson Center
411 E South Temple
Salt Lake City, Ut 84111
Thomas S. Monson Center
411 E South Temple
Salt Lake City, Ut 84111
