Zip codes with the fastest growing rent in Utah

Written by:
March 25, 2021
realtor.com

Zip codes with the fastest growing rent in Utah

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in Utah using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

#8. 84081 (West Jordan)

- 1 year rent change: -0.7%
--- #1 fastest falling rent among zip codes in Salt Lake City, UT metro
- 5 year rent change: +3.4%
- Typical rent: $1,656
--- 14.0% above typical rent in Salt Lake City, UT metro

- Pictured (for rent): 6447 W Wilshire Park Ave, West Jordan 84081 ($1,670)

#7. 84606 (Provo)

- 1 year rent change: +2.4%
--- #3 fastest growing rent among zip codes in Provo, UT metro
- 5 year rent change: +20.3%
- Typical rent: $1,013
--- 25.4% less than typical rent in Provo, UT metro

- Pictured (for rent): 1363 Alpine Loop, Provo 84606 ($550)

#6. 84115 (Salt Lake City)

- 1 year rent change: +2.7%
--- #1 fastest growing rent among zip codes in Salt Lake City, UT metro
- 5 year rent change: +26.7%
- Typical rent: $1,287
--- 11.4% less than typical rent in Salt Lake City, UT metro

- Pictured (for rent): 3160 S 200 E, Salt Lake City 84115 ($1,299)

#5. 84005 (Eagle Mountain)

- 1 year rent change: +3.8%
--- #2 fastest growing rent among zip codes in Provo, UT metro
- 5 year rent change: +21.2%
- Typical rent: $1,524
--- 12.3% above typical rent in Provo, UT metro

- Pictured (for rent): 3931 E Cardon Ln, Eagle Mountain 84005 ($1,899)

#4. 84043 (Lehi)

- 1 year rent change: +5.6%
--- #1 fastest growing rent among zip codes in Provo, UT metro
- 5 year rent change: +26.8%
- Typical rent: $1,786
--- 31.6% above typical rent in Provo, UT metro

- Pictured (for rent): 4151 N Traverse Mountain Blvd, Lehi 84043 ($1,599)

#3. 84015 (Clearfield)

- 1 year rent change: +8.5%
--- #3 fastest growing rent among zip codes in Ogden, UT metro
- 5 year rent change: +37.3%
- Typical rent: $1,627
--- 18.2% above typical rent in Ogden, UT metro

- Pictured (for rent): 1342 S 950 E, Clearfield 84015 ($1,450)

#2. 84404 (Ogden)

- 1 year rent change: +8.8%
--- #2 fastest growing rent among zip codes in Ogden, UT metro
- 5 year rent change: +39.9%
- Typical rent: $1,279
--- 7.0% less than typical rent in Ogden, UT metro

- Pictured (for rent): 1258 Grant Ave, Ogden 84404 ($1,229)

#1. 84041 (Layton)

- 1 year rent change: +10.3%
--- #1 fastest growing rent among zip codes in Ogden, UT metro
- 5 year rent change: +37.6%
- Typical rent: $1,486
--- 8.0% above typical rent in Ogden, UT metro

- Pictured (for rent): 2090 N Hill Field Rd, Layton 84041 ($1,513)

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