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Utah rents are expected to keep rising, experts say

People along the Wasatch Front are paying a lot more money for rent than they did a year ago, and experts are saying rent prices in Utah will keep rising.According to data from Apartment List, analyzed by the Kem C. Gardner Policy Institute, double-digit rent increases year over year are widespread throughout the state. 

 

Senior research fellow at the Gardner Policy Institute Dejan Eskic says he expects rents along the Wasatch Front to rise another 10 to 15 percent over the next year. The good news, he says, is there are a thousand units coming to the market soon. He says the new supply should help bog down the prices a bit.

 

As it currently stands, though, there’s a lot more demand than supply. Maintenance costs are also going up due to labor shortages, which translates to the higher rent costs, according to Eskic.

Tyler Hewitt is the web/social media assistant at UPR. He writes stories every day, updates the website and manages the station's Twitter and Facebook pages. Tyler is a senior at Utah State University and is studying public relations, marketing, and psychology. He loves to write, listen to music, play video games, play tennis and hang out with his fiancé and cat, Juno. He is a great plant dad and recently started collecting vinyl records!