Salt Lake City Multifamily Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from , CBRE, Colliers,
Quarterly multifamily market indicators for Salt Lake City, aggregated by CREhunt from , CBRE, Colliers, . As of Q1 2026, average asking rent was — with a 7.3% vacancy rate.
Projected current multifamily pricing — Salt Lake City
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q4 2023 multiple brokerages data (cap rate 5.3%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | — | 7.3% | — | — | |
| Q4 2025 | — | — | 0K SF | — | CBRE |
| Q4 2023 | $1055.00/SF | 7.0% | 36K SF | — | Colliers |
| Q4 2023 | — | 3.0% | 2K SF | — | CBRE |
| Q3 2017 | $1555.00/SF | 12.0% | 8K SF | — |
How the brokerage sources compare
For Q4 2023, the brokerages CREhunt aggregates for Salt Lake City multifamily did not fully agree. On vacancy, the sources span 4.0 points — from 3.0% (CBRE) to 7.0% (Colliers). CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| CBRE | 3.0% | — | — |
| Colliers | 7.0% | $1055.00/SF | 6.0% |
Per-brokerage figures for Q4 2023, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for multifamily space in Salt Lake City?
- CREhunt aggregates multifamily asking-rent data for Salt Lake City from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the multifamily vacancy rate in Salt Lake City?
- The multifamily vacancy rate in Salt Lake City was 7.3% as of Q1 2026.
- Where does CREhunt's Salt Lake City market data come from?
- This report aggregates quarterly multifamily market data for Salt Lake City from CBRE, Colliers.
- How much do brokerage estimates differ for multifamily space in Salt Lake City?
- For Q4 2023, the brokerage sources CREhunt aggregates for Salt Lake City did not fully agree. On vacancy, the sources span 4.0 points — from 3.0% (CBRE) to 7.0% (Colliers). CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.