Rent Tracker
Rent Inflation in Salt Lake City, UT
The average asking rent in Salt Lake City, UT is $1,641/month as of 2026-05. That is +0.4% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,641/mo
as of 2026-05
Year-over-Year Change
+0.4%
24-Month Rent Trend
Monthly ZORI index values for Salt Lake City, UT.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-05 | $1,641 | +0.80% |
| 2026-04 | $1,628 | +1.56% |
| 2026-03 | $1,603 | +0.94% |
| 2026-02 | $1,588 | +0.06% |
| 2026-01 | $1,587 | -1.06% |
| 2025-12 | $1,604 | -0.93% |
| 2025-11 | $1,619 | -0.74% |
| 2025-10 | $1,631 | -0.49% |
| 2025-09 | $1,639 | -0.30% |
| 2025-08 | $1,644 | +0.18% |
| 2025-07 | $1,641 | +0.18% |
| 2025-06 | $1,638 | +0.24% |
| 2025-05 | $1,634 | +0.55% |
| 2025-04 | $1,625 | +0.68% |
| 2025-03 | $1,614 | +0.81% |
| 2025-02 | $1,601 | +0.38% |
| 2025-01 | $1,595 | +0.00% |
| 2024-12 | $1,595 | -0.93% |
| 2024-11 | $1,610 | -1.11% |
| 2024-10 | $1,628 | -0.85% |
| 2024-09 | $1,642 | +0.18% |
| 2024-08 | $1,639 | +0.12% |
| 2024-07 | $1,637 | +0.43% |
| 2024-06 | $1,630 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices