SALT LAKE CITY — Whether you're renting or buying, it’s a tough time to find a place to live right now in Salt Lake City — or to continue to afford where you’re at. That’s because the SLC metropolitan area saw one of the sharpest increases in rent since the pandemic.
“It’s a hard time for landlords, too," said Paul Smith, the executive director of the Utah Apartment Association." It’s stressful to raise rents, it’s stressful to not be able to get employees."He says our economy is doing well, people are moving here for jobs, but we aren’t building enough rental units to keep up with demand.But part of the problem is a lot of the new construction is luxury, high-end development, which is out of most people's price range.
His suggestion for struggling renters is to find ways to increase their income, consider getting a roommate, and most importantly, be patient.
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