Salt Lake City Multifamily Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from Northmarq, CBRE, Colliers
Quarterly multifamily market indicators for Salt Lake City, aggregated by CREhunt from Northmarq, CBRE, Colliers. As of Q1 2026, vacancy was 7.3%, per Northmarq.
Projected current multifamily pricing — Salt Lake City
Projected asking rent
$1,755–$1,757/unit/mo
Estimated sale value
$195,882–$245,097/unit
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 2025 multiple brokerages data (cap rate 5.3%, asking rent trend-adjusted to today). Assumes ~95% occupancy and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 Northmarq | — | 7.3% | — | — | Northmarq |
| Q3 2025 CBRE | $1,538.00/unit/mo | — | — | — | CBRE |
| Q4 2023 Colliers | $1,055.00/unit/mo | 7.0% | 36K SF | — | Colliers |
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 (Northmarq).
- Where does CREhunt's Salt Lake City market data come from?
- This report aggregates quarterly multifamily market data for Salt Lake City from Northmarq, CBRE, Colliers.
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