Press Releases

As the leading advocate for property owners and managers in Utah - the UAA participates in many areas of the rental housing industry - including press releases on current news topics.

PRESS RELEASE - April 29, 2022

One-Third of Utah’s Housing Units are Rentals; Private Owners Account for 77% of Utah’s Total 305,000 Apartment Units, Institutional Investors Make Up 7% of Share

SANDY (April 29, 2022) – The Utah Apartment Association (UAA) said today that renter households comprise nearly one-third of Utah’s 1.05 million housing units – roughly 305,000 rental units (29%).

Approximately 58.5% of renter households are family households, according to a report commissioned by UAA and authored by Dejan Eskic, senior research fellow at the University of Utah. Single-person households account for 28% of renters, and 14% are households with roommates that are not related.

“Utah historically is known for being a dominant homeownership market,” said Paul Smith, executive director of the UAA. “It is the only state whose ownership rate has never dropped below 60%. Still, a significant portion of Utah’s population are renters, about 25% (~830,000).”

Of the 305,000 rental units in Utah, 35% are single-family units, 22% are in apartment structures with five to 19 units, 18% are in structures that have two to four units, 11% are in structures with 50 or more units, 11% are in structures with 20 to 49 units, and 3% are mobile homes or other.

Close to two-thirds of Utah’s apartment units are owned by companies based in Utah, 35% are based out-of-state but in the United States, and approximately 2% are registered, foreign owners. The foreign owners are primarily based in Canada, Europe, Japan, and the Middle East. U.S.-based out-of-state owners are primarily located in California and own an estimated 21% of the apartment units. Both Washington and Florida-based owners account for 2% of the units each.

Utah’s apartment market is dominated by private owners, accounting for 77% of units. Institutional owners account for just over 7% of the share. Other owners (government, non-profit, corporate users, and religious entities) make up 7% of total ownership. Private equity firms own nearly 5% of Utah’s apartment units. Real estate investment trusts (REITS) own just 1%. Unknown owners account for 3%.

As of the first quarter 2022, there are an estimated 1,550 private/individual owners in Utah who own 2,420 buildings that account for just under 170,000 units. About 76% of owners have a portfolio size of fewer than 100 units.

About the Utah Apartment Association

The Utah Apartment Association (UAA) is a non-profit trade association designed to protect, educate, connect, and grow the rental industry in the state of Utah. We represent roughly 3,500 rental operators and more than 132,000 units. Our members range from basement apartment owners to large management companies. If you are in any way involved with the rental housing industry, we invite you to discover how membership with the UAA can support you and your business.

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Dave Anderton | Public Relations

Anderton Group Inc.

dave@daveanderton.com | 801.707.0090

PRESS RELEASE - February 25, 2022

Salt Lake City Rents are Rising, but Remain Below National Levels

SANDY (Feb. 25, 2022) – The Utah Apartment Association announced today that Salt Lake City’s median asking rent prices remained below national levels as inflation reached its highest level in 40 years.

In February, Salt Lake City’s median rent for a one-bedroom apartment unit was $1,270, a 13.4% increase year over year, according to Zumper’s February National Rent Index. A two-bedroom unit rose to $1,590, a 13.6% increase from February 2021. Nationally, rent for a one-bedroom unit increased to a high of $1,393, while a two-bedroom unit climbed to $1,708.

Salt Lake City’s median asking rent price ranked No. 43 highest of 100 U.S. metropolitan areas, the report noted. Salt Lake City’s rent was cheaper than other western cities like Boise, Idaho; Dallas; Fresno, Calif.; Gilbert, Ariz.; and Denver.

“Unfortunately, inflation is affecting nearly all aspects of consumer life, especially shelter,” said Brad Randall, Board Chair of the Utah Apartment Association. “We remind renters that have incurred significant costs due to the pandemic and are experiencing housing instability that they may be eligible for rental assistance if they have a combined household income at or below 80% of area median income. More information is available at  rentrelief.utah.gov.”

While Salt Lake rents have increased dramatically, the price of homes has increased more. The typical mortgage payment on a median price single-family home in Salt Lake County increased to $3,043 in 2021, according to a report by the Salt Lake Board of Realtors®.

About the Utah Apartment Association

The Utah Apartment Association (UAA) is a non-profit trade association designed to protect, educate, connect, and grow the rental industry in the state of Utah. We represent roughly 3,000 landlords and more than 132,000 units. Our members range from basement apartment owners to large management companies. If you are in any way involved with the rental housing industry, we invite you to discover how membership with the UAA can support you and your business.

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Dave Anderton | Public Relations

Anderton Group Inc.

dave@daveanderton.com | 801.707.0090

PRESS RELEASE - February 1, 2022

Utah Landlords House Afghan Refugees

SANDY (Feb. 1, 2022) – The Utah Apartment Association announced today that it is helping Afghans who are relocating to Utah who fled after the Taliban takeover last summer.

Roughly 885 Afghans are being resettled in Utah, according to the Utah Refugee Services Office. Most Afghan refugees have secured housing. However, another 100 housing units are still needed.

“We are proud of the many housing providers who have stepped forward and are housing Afghan refugee families,” said Paul Smith, executive officer of the Utah Apartment Association. “They embody the true spirit of Utah housing providers.”

Refugees work with a government agency to secure housing, typically a market-rate apartment for rent. Federal funding will help cover housing and basic needs for their first two years in the United States. Utah has a robust program to help refugees become established, learn English, and find good jobs.

“We still need more landlords willing to provide housing for Afghan arrivals,” Smith added. “We encourage anyone who has an available rental to reach out to the association, and we will connect you to the refugee aid agencies.”

The Utah Apartment Association is made up of nearly 3,000 members that own and manage 132,248 rental units.

Additional funding is in place to cover any security or damage concerns that may come from housing a refugee household. For more information or to make a private donation to help new Afghan arrivals visit: https://www.utahcf.org/afghan-response.

According to Naja Pham Lockwood, founder and CEO of RYSE Media Ventures and a Park City resident, the world is facing one of the worst refugee crises since World War II. “There are 64 million displaced people. Less than 1% come to the United States,” she said. “Utah is a state that has embraced and continues to embrace refugees.”

About the Utah Apartment Association

The Utah Apartment Association (UAA) is a non-profit trade association designed to protect, educate, connect, and grow the rental industry in the state of Utah. We represent roughly 3,000 landlords and more than 132,000 units. Our members range from basement apartment owners to large management companies. If you are in any way involved with the rental housing industry, we invite you to discover how membership with the UAA can support you and your business.

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Dave Anderton | Public Relations

Anderton Group Inc.

dave@daveanderton.com | 801.707.0090

PRESS RELEASE - October 25, 2021

Eviction Filings Drop by Double-Digit Percentages in September and Third Quarter

SANDY (Oct. 25, 2021) – The Utah Apartment Association today said that despite predictions of a rental housing eviction spike, evictions filings in Utah are still significantly lower than before the pandemic.

According to eviction records from the Utah State Courts, there were 524 eviction filings in September, down 22% from the 672 filings in September 2019. Furthermore, eviction filings in the third quarter of 2021 fell to 1,307 filings, down 31% compared to 1,883 filings in the same period in 2019. Eviction filings were not compared to 2020, which was an anomalous year.

“If there was going to be a month with an increase in eviction filings, it would have been September,” said Paul Smith, Executive Director of the Utah Apartment Association. “In August, the U.S. Supreme Court finally put a stop to 12 months of unconstitutional eviction bans promulgated by the CDC.”

In the three years prior to the Covid-19 pandemic, Utah averaged 7,100 eviction filings a year. In 2020, there were only 4,787 eviction filings, a reduction of 33% from the three-year average. This year, from January through September, there have been just 3,282 eviction filings.

Smith added that the drop in eviction filings is due to hundreds of millions of dollars in rental assistance made available to Utah households through federal Covid relief funding. The state of Utah reports it has spent just over $70 million of the nearly $400 million it received.

“Since March of 2020, Utah has seen nearly 5,000 fewer evictions thanks to rental assistance funding and landlords and tenants working with each other,” Smith said. “We are happy to report that concerns that this pandemic would lead to more evictions and that ending the eviction moratorium would create a spike in evictions have now been proven wrong. Landlords are working with tenants to apply for rental assistance, and responsible tenants are getting funding and keeping their housing.”

About the Utah Apartment Association

The Utah Apartment Association (UAA) is a non-profit trade association designed to protect, educate, connect, and grow the rental industry in the state of Utah. We represent more than 2,500 landlords and over 105,000 units. Our members range from basement apartment owners to large management companies. If you are in any way involved with the rental housing industry, we invite you to discover how membership with the UAA can support you and your business.

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Dave Anderton | Public Relations

Anderton Group Inc.

dave@daveanderton.com | 801.707.0090

PRESS RELEASE - September 23, 2021

Median Rent is Rising at Roughly Half the Rate as Home Prices

SANDY (Sept. 23, 2021) – The Utah Apartment Association today said that rent prices are rising in Utah, but at roughly one-half the rate as home prices.

The median rent in Salt Lake County increased to $1,389 in June, up 12% year over year, according to Realtor.com. In contrast, the median home price (all housing types) across Salt Lake County climbed to $455,000 in the second quarter, up 23% from the second quarter of 2020, according to UtahRealEstate.com.

“While rent increases can be difficult to absorb, the typical monthly mortgage in Utah soared to $2,547 in June,” said Holly Sanford, Board Chair of the Utah Apartment Association. “Many rental owners made a compassionate and deliberate decision during the pandemic to not raise rent in 2020. Renters don’t like increases, but compared to homeownership, renting is more affordable.”

Salt Lake County’s median rent in June was lower than many other western U.S. cities, including: Las Vegas ($1,397); Phoenix ($1,590); Portland ($1,645); Denver ($1,820); Sacramento ($1,821); and Seattle ($1,910). In the 50 largest metropolitan areas, the median rent in June was $1,575, up 8% year over year, the Realtor.com report noted.

Real estate research firm Costar predicts that between 2021 and 2025 Salt Lake rent will increase about 4-7% per year, much less than it did in 2021. With the economy currently in an inflationary period, rental operators and renters should continue to expect modest increases in rent going forward, Sanford added.

A report by CBRE, a commercial real estate firm, said rent increased 1.4% in Utah in 2020. Salt Lake County had the lowest 2020 rent growth at just 1%.

The Utah Apartment Association (UAA) is a non-profit trade association designed to protect, educate, connect, and grow the rental industry in the state of Utah. We represent more than 2,500 landlords and over 105,000 units. Our members range from basement apartment owners to large management companies. If you are in any way involved with the rental housing industry, we invite you to discover how membership with the UAA can support you and your business.

###

Dave Anderton | Public Relations

Anderton Group Inc.

dave@daveanderton.com | 801.707.0090

PRESS RELEASE - August 31, 2021

Utah Rental Assistance Program Working Well, Fewer Renters Behind on Rent

SANDY (Aug. 31, 2021) – The Utah Apartment Association announced today that Utah evictions are projected to stay at lower-than-normal levels, despite a ruling last week by the Supreme Court that ended a national moratorium on evictions.

In Utah, $48 million – of $212 million allocated for rental assistance – has been given to tenants. The difference ($164 million) will be distributed by the September 2022 deadline. An additional $200 million will be available between September 2022 and September 2027.

“Roughly 4,000 renters, or 1.3% of Utah’s 300,000 rental households, received eviction notices last year,” said Paul Smith, executive officer of the Utah Apartment Association. “Last year’s evictions were about 40% lower than a typical year. Because of ongoing federal rental assistance programs, we expect Utah eviction filings to remain low for the foreseeable future. Few renters are currently behind on rent.”

Here’s a breakdown of Utah’s rental assistance money so far:

A total of 17,009 rental households have received an average of $2,862 assistance in 2021. That is about 5% of the 300,000 rental households in Utah. 

There are two ways renters can get assistance:

First, renters can apply directly at www.rentrelief.utah.gov or work through a community partner agency like the Community Action Network. As of August, 12,395 renters have applied directly through the website. Approval times typically took 18.6 business days. The average benefit per household was $2,208.

The second way renters can receive funding is by applying through their landlord. In 2021, 4,614 households that applied through their landlord received an average benefit of $4,621. Approval took 9.9 business days.

“Renters who are applying through their landlord are receiving more than twice as much assistance in about half the time,” Smith added. “This is likely because landlords better understand the benefits renters are eligible for and ask for more than renters do on their own.”

If tenants are eligible, the program will cover rent that is past due and pay for future rent as well. Since most households who have received funds are eligible through September 2022, it is likely that the entire $212 million of first-round rental assistance will be utilized.

About the Utah Apartment Association

The Utah Apartment Association (UAA) is a non-profit trade association designed to protect, educate, connect, and grow the rental industry in the state of Utah. We represent more than 2,500 landlords and over 105,000 units. Our members range from basement apartment owners to large management companies. If you are in any way involved with the rental housing industry, we invite you to discover how membership with the UAA can support you and your business.

###

Dave Anderton | Public Relations

Anderton Group Inc.

dave@daveanderton.com | 801.707.0090

PRESS RELEASE - July 29, 2021

Utah Eviction Filings Down 44% in the First Six Months of 2021

 SANDY (July 29, 2021) – The Utah Apartment Association stated today that eviction filings in the first six months of 2021 fell to 1,975, down 44% compared to the same six-month periods for 2017-2019. Eviction filings were not compared to 2020, which was an anomalous year.

“Eviction filings are down primarily due to renters taking advantage of assistance programs to help them pay rent,” said Paul Smith, executive director of the Utah Apartment Association. “More than $60 million in rental assistance has been paid directly to landlords since the Covid crisis began, and more than $150 million in federal money is still available for Utah renters facing economic hardship. This money has helped hundreds of Utah families pay their rent. It has made many evictions unnecessary.”

According to the Utah Department of Workforce Services, renters are eligible for rental assistance if they have a combined household income at or below 80% of area median income, have qualified for unemployment benefits, experienced a reduction in income or incurred significant costs due to the pandemic and are experiencing housing instability.

Smith says the federal eviction moratorium by the CDC played a small role in eviction reduction but will end on July 31. That moratorium required renters make partial payment and apply for rental assistance. Renters who did neither of those things could still be evicted, as could renters who committed criminal activity or violated lease agreements. “Because most renters with balances have received rental assistance, we don’t expect a spike in evictions in August,” Smith added.

Utah eviction filings may increase in the second half of 2021, Smith said, but the increase will likely be minimal. “Rental assistance to Utah renters will continue through September of 2022, so most low-income renters who need help will get it,” Smith added. “Utah’s private sector is in an aggressive hiring push. Signing bonuses and higher wages are being offered by many employers to fill jobs.”

Utah began providing rental assistance in April 2020 to keep Utah residents in their homes during the pandemic, despite job loss or other financial impacts, according to the Utah Department of Workforce Services. Approximately $25 million in rental assistance was paid through December 2020. Congress then created the Emergency Rental Assistance program to continue providing rental assistance through September 2022. As of June 2021, this program has distributed $35 million to rental assistance. Utah has a centralized distribution portal –

www.rentrelief.utah.gov . Renters can apply themselves or through their landlords.

About the Utah Apartment Association

The Utah Apartment Association (UAA) is a non-profit trade association designed to protect, educate, connect, and grow the rental industry in the state of Utah. We represent more than 2,500 landlords and over 105,000 units. Our members range from basement apartment owners to large international management companies. If you are in any way involved with the rental housing industry, we invite you to discover how membership with the UAA can support you and your business.

###

Dave Anderton | Public Relations

Anderton Group Inc.

dave@daveanderton.com | 801.707.0090