Vacancy Rates Up; Rent Prices Down

Vacancy Rates Up; Rent Prices Down

Save Story
Leer en EspaƱol

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

(Salt Lake City-AP) -- Vacancy rates in Utah apartment buildings are way up. It's good news for renters because some landlords are lowering their prices and offering incentives to fill those empty units.

During the first six months of this year, the vacancy rate in Salt Lake area rental units rose to nine-point-five percent.

That's up from nine-point-three percent the same time a year ago.

But some analysts think the tide may be turning. At one point last year, vacancies were up to ten-point-nine percent, the highest level since 1988.

The average monthly rent for the first half of the year has fallen as well -- down 16 dollars to 633 dollars per month. That's a drop of nearly four percent from the same time last year.

(Copyright 2003 by The Associated Press. All Rights Reserved.)

Most recent Utah stories

Related topics



Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the Trending 5.
By subscribing, you acknowledge and agree to's Terms of Use and Privacy Policy.

KSL Weather Forecast