Utah’s affordable apartments are disappearing as luxury rentals multiply, according to Harvard researchers.
Why it matters: Renters already burdened by high costs have fewer low-priced options.
By the numbers: Between 2013 and 2023, units renting from $600 to $999 a month in Utah (adjusted for inflation) fell by around 53%, per a report by Harvard’s Joint Center for Housing Studies.
- Meanwhile, a building boom of upscale apartments helped the number of units costing more than $2,000 a month jump more than 600%.
The big picture: The majority of Salt Lake City residents are renters, and half spend over 30% of their income on housing, according to figures from the city’s five-year housing plan released in 2023…