Report: Salt Lake City 1-bedroom rental prices up 15.6% year on year
(KUTV) — On Thursday, Zumper, an online apartment rental site, released its national rental report that found Salt Lake City one-bedroom rental prices are up 15.6 percent year on year.
The report analyzed 100 cities nationwide to collect data on rental prices of one- to two-bedroom apartments.
Salt Lake City ranks tied with Chesapeake, Va., for 47th on the list of average rental prices. One -bedroom rental prices rose to $1,040 a month from last year. Two-bedrooms list at 14% higher than last year at $1,380.
Nationwide average rental prices for a one-bedroom rental jumped 4.2% in March of this year to $1,292, and then fell 8.8% in April to $1,181 per month.
Two-bedroom apartment prices also showed an increase since March of this year to a current average of $1,443, which is an increase of 3%.
Leading the nation in average rental prices is San Francisco at $3,650 for a one-bedroom and $4,800 for two-bedroom. Listed as the cheapest city in the 100 cities surveyed is Akron, Ohio, with $550 for one-bedroom and $700 for a two-bedroom.
For the full report, click here.