News Release

Recent apartment construction has not reduced single-family home values in Salt Lake County

February 22, 2021 (Salt Lake City) – The Kem C. Gardner Policy Institute today released a study showing apartments built between 2010 and 2018 have not reduced single-family home values in suburban Salt Lake County. According to the research, commissioned by the Salt Lake County Office of Regional Development, single-family homes located within 1/2 mile of a newly constructed apartment building experienced higher overall price appreciation than those homes farther away.

“This analysis sheds light on an important topic – the proximity of apartments to single-family homes does not decrease value, but increases value, all while providing more housing choices for residents,” said Dejan Eskic, senior research fellow at the Gardner Institute and lead author of the report. “In Salt Lake County, from the year an apartment was constructed to 2019, single-family homes located within 1/2 mile of new apartment construction realized 1.4% more in annual price appreciation than singl