{"id":1004182625,"date":"2017-07-27T23:00:06","date_gmt":"2017-07-28T07:00:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004182625"},"modified":"2025-02-26T02:49:49","modified_gmt":"2025-02-26T10:49:49","slug":"salt-lake-city-demand-outpaces-insufficient-supply","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/salt-lake-city-demand-outpaces-insufficient-supply\/","title":{"rendered":"Salt Lake City Demand Outpaces Insufficient Supply"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<div id=\"attachment_1004182629\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004182629\" data-attachment-id=\"1004182629\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/salt-lake-city-demand-outpaces-insufficient-supply\/chart-5\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart.jpg\" data-orig-size=\"1007,433\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Salt Lake City rent evolution, click to enlarge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Salt Lake City rent evolution, click to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart.jpg?w=1007\" class=\"wp-image-1004182629\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart.jpg\" alt=\"Salt Lake City rent evolution, click to enlarge\" width=\"400\" height=\"172\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart.jpg 1007w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart.jpg?resize=300,129 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart.jpg?resize=768,330 768w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><p id=\"caption-attachment-1004182629\" class=\"wp-caption-text\">Salt Lake City rent evolution, click to enlarge<\/p><\/div>\n<p>Driven by robust population growth and low unemployment, Utah\u2019s largest city is rapidly expanding, generating healthy housing demand. Salt Lake City continues to appeal to major employers such as Amazon, UPS and big-brand companies based along the Wasatch Front, due to the region\u2019s good connectivity, infrastructure and solid demographics.<\/p>\n<p>Employment gains have been consistent, with the addition of more than 43,600 jobs year-over-year through March, most of them in the trade, transportation and utilities sector. Furthermore, prominent projects such as Austin Okland Aviation\u2019s $740 million expansion of Salt Lake City International Airport and Amazon\u2019s new 800,000-square-foot fulfillment facility are expected to boost the metro\u2019s business infrastructure and add construction jobs. Also in the works is Biomerics\u2019 230,000-square-foot headquarters in the International Center, west of Salt Lake City International Airport. Proximity to major employers and education hubs explains investors\u2019 interest in Salt Lake City\u2013Downtown and Orem, two of the fastest-growing submarkets.<\/p>\n<p>Salt Lake City\u2019s residential market is in the midst of a boom, as strong demand and economic prosperity drive rents and transaction volume higher. Developers have aggressively increased the construction pipeline and expect new supply to be absorbed quickly, as population and household growth continue.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/260-SaltLakeCity-Summer2017Outlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=260-SaltLakeCity-Summer2017Outlook\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Read the full Yardi Matrix report.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Driven by robust population growth and low unemployment, Utah\u2019s largest city is rapidly expanding, generating healthy housing demand, according to Yardi Matrix.<\/p>\n","protected":false},"author":238,"featured_media":1004182628,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742,1606,15],"tags":[],"class_list":["post-1004182625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest","category-salt-lake-city","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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