Data: RentCafe analysis of Yardi Matrix data; Note: Analysis includes 200 largest U.S. cities; Chart: Axios Visuals
Rent is climbing in Salt Lake City — but among other western cities, it's about in the middle.
Driving the news: A monthly rent of $1,500 can get you a 742-square-foot apartment in Salt Lake City, smallerthan the national average of 782 square feet, per a new report from listing service RentCafe.
Of note: Researchers considered the rent-to-space ratio in buildings with 50 units or more across the 200 biggest U.S. cities.
The big picture: Rent in western cities is significantly higher than back East, with the biggest bang for your buck in the Midwest and Southeast, RentCafe found.
The median U.S. renter spends close to 30% of their monthly income on average on rent, per the latest report from Moody's Analytics, an economic research firm.
Yes, but: It's still cheaper to rent than buy in the vast majority of the country, a new Redfin report says.