MARKET SNAPSHOT Salt Lake City q3 2025

Market Overview

‍The metro Salt Lake City multifamily market is showing renewed signs of traction in Q3 2025 as asking rent reaches about $1,573 per unit and occupancy rests near 92.2 percent. Net absorption is solid at roughly 3,305 units year-to-date even amid a larger supply base, and developers are pacing deliveries more conservatively, helping align fundamentals. With supply-side moderation underway and demand steady, the region appears poised for modest rent growth ahead.

‍About MMG

‍MMG Real Estate Advisors is a U.S.-based research and advisory firm specialising in metro-level multifamily housing markets. Their Q3 2025 Salt Lake City market report combines detailed data on rent trends, occupancy, absorption, completions and pipeline activity to help owners, developers and investors evaluate timing, risk and strategic positioning. To read the full report, click here.