The Gardner Policy Institute provides data-driven, context-specific insights about Utah’s economy. We prepare in-depth studies on key Utah issues in partnership with stakeholders in the private sector and state and local government. The institute employs a diverse group of economists and analysts with specialties that include healthcare, energy and natural resources, tourism, and real estate and construction. Our research provides vital information decision makers and the public use to help Utah prosper.
Housing, Construction, & Real Estate
Fact Sheet: Utah State and County Short-term Population Projections: 2018-2028
We project Utah’s population will grow on average at 1.7 percent per year from 3,166,647 in 2018 to 3,739,193 in 2028 for a total growth of 572,546. Natural increase is the main driver contributing 339,826 people, while net migration provides the remaining 232,720. The population will become older as Baby Boomers retire and birth rates stay low. This is reflected in a median age [...]
The Salt Lake Apartment Market: An Analysis of Apartment Rental Rates in the Greater Salt Lake Region
Strong demand for apartment units in the Wasatch Front has led to a rapid increase in rental rates. Since the Great Recession, the increase in average rent has outpaced income growth and inflation. Pent up demand coupled with a robust population increase has fueled the growth of the regions’ rental market. Traditionally, Salt Lake City, West Valley City, Murray, and other northern cities of [...]
State Budget Stress Testing: How Utah Budget-makers are Shifting the Focus from a Balanced Budget to Fiscal Sustainability
State budget stress tests help policymakers to plan for and create appropriate, measured responses to economic volatility. Utah is the first state to implement comprehensive budget stress testing, evaluating the sufficiency of reserves and other budget contingencies to cover recession-spurred revenue shortfalls and countercyclical cost hikes.
State Budget Stress Testing User Guide
This user guide is a supplemental piece to the Gardner Institute’s report “State Budget Stress Testing: How Utah Budget makers are Shifting the Focus from a Balanced Budget to Fiscal Sustainability.” It is intended to assist other states in preparing their own budget stress tests.
Ivory-Boyer Construction Report, 1st Quarter 2019
The total statewide value of permit authorized construction during the first quarter of 2019 is $2.0 billion. This value is within a few million dollars of an all-time first quarter high in 2018 (inflation adjusted). Nonresidential construction value is particularly strong with a total of $641 million, up 35 percent over 2018. The number and value of residential permits issued, however, are down from [...]
