Salt Lake City

blue

Get smarter, faster on what matters in Salt Lake City with Kim Bojórquez and Erin Alberty.

Axios Salt Lake City

Standard

Get smarter, faster on the most consequential news unfolding in Salt Lake City

Axios Salt Lake City Thought Bubble

Thought Bubble

Axios Salt Lake City Partners

Salt Lake City Alerts

Alert

Salt Lake City Members

Membership

Data: LendingTree analysis of U.S. Census Bureau data; Note: Monthly costs include utilities, fees, and/or taxes; Median housing costs above $4,000 are recorded as "$4,000+" by the Census Bureau; Chart: Jacque Schrag/Axios

Renting is cheaper than owning a home in Salt Lake City, according to a LendingTree analysis.

Why it matters: The same holds true for all 100 of the largest U.S. metro areas as housing costs have soared nationwide, with stubbornly high home prices and mortgage rates weighing on would-be buyers.

Nationally, homeowners with a mortgage now pay around 37% more per month than renters, researchers found.

By the numbers: The median monthly gross rent in the Salt Lake area was nearly $1,700 in 2024, based on the latest available census data, compared to over $2,200 a month for mortgaged homes, a 33.4% difference.

The big picture: In 22 of the 100 largest metros, owning costs at least 50% more each month than renting, including utilities, fees and taxes.

Northeastern metros — New York (76%), Bridgeport, Connecticut (75%), and Providence, Rhode Island (67%) — saw the biggest percentage differences between homeowners' and renters' bills.

What they're saying: "The cost disparity here could be enough to convince someone that they'll never be able to own a home in some areas, and — unfortunately — they may be right," said Matt Schulz, LendingTree's chief consumer finance analyst, in a statement.

Homebuyers may have to move to another city to find a place within reach, he says.

What we're watching: President Trump has proposed a raft of policies meant to lower mortgage rates and boost home-buying demand.

But making housing more affordable is easier said than done.

Renting is cheaper than owning a home in Salt Lake City

Salt Lake City homeowners pay 33% more than renters.

A chart showing the monthly median cost to rent or own by metro area in 2024 among the 100 largest metros. The national average rent price was $1,487 compared to $2,035 to own. In the Salt Lake City metro, the median rental cost was $1,659 compared to $2,213 to own.

Renting is cheaper than <a class="gtmContentClick" data-vars-link-text="owning a home" data-vars-click-url="https://www.axios.com/2026/01/19/affordable-homes-metro-income" data-vars-content-id="127d4c58-95d6-4d77-83f0-5ca5ce36cd6d" data-vars-headline="Renting is cheaper than owning a home in Salt Lake City" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2026/01/19/affordable-homes-metro-income" target="_self">owning a home</a> in Salt Lake City, according to a LendingTree <a class="gtmContentClick" data-vars-link-text="analysis" data-vars-click-url="https://www.lendingtree.com/home/mortgage/comparing-rent-vs-owning-a-home-in-nations-largest-metros/" data-vars-content-id="127d4c58-95d6-4d77-83f0-5ca5ce36cd6d" data-vars-headline="Renting is cheaper than owning a home in Salt Lake City" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.lendingtree.com/home/mortgage/comparing-rent-vs-owning-a-home-in-nations-largest-metros/" target="_blank">analysis</a>.Why it matters: The same holds true for all 100 of the largest U.S. metro areas as housing costs have soared nationwide, with stubbornly high home prices and mortgage rates weighing on <a class="gtmContentClick" data-vars-link-text="would-be buyers" data-vars-click-url="https://www.axios.com/2026/01/01/mortgage-rates-home-prices-predictions-2026" data-vars-content-id="127d4c58-95d6-4d77-83f0-5ca5ce36cd6d" data-vars-headline="Renting is cheaper than owning a home in Salt Lake City" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2026/01/01/mortgage-rates-home-prices-predictions-2026" target="_self">would-be buyers</a>.<ul><li>Nationally, homeowners with a mortgage now pay around 37% more per month than <a class="gtmContentClick" data-vars-link-text="renters" data-vars-click-url="https://www.axios.com/2025/08/06/apartment-rent-prices" data-vars-content-id="127d4c58-95d6-4d77-83f0-5ca5ce36cd6d" data-vars-headline="Renting is cheaper than owning a home in Salt Lake City" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/08/06/apartment-rent-prices" target="_self">renters</a>, researchers found.</li></ul>

Real Estate

News

A building boom across the Mountain West has cooled rents — but that relief could fade as new construction slows.

Why it matters: Housing is unaffordable for many. Although the median U.S. rent for new leases is down 1.5% from a year ago, it's still roughly 20% above pre-pandemic levels, at about $1,400 a month, per Apartment List.

And a new Harvard report finds a record number of renters are "cost-burdened," spending more than 30% of their income on rent and utilities.

Zoom in: The median rent in the Salt Lake metro was down 2.4% this February from a year earlier.

That's the 9th sharpest decline among more than 50 of the nation's biggest metro areas.

Zoom out: Other cities in the Mountain West posted even bigger declines: Nearly 5% in Denver,  more than 4% in Phoenix and Tucson, and more than 3% in Las Vegas.

The other side: Rental markets are getting tighter in the Midwest, Northeast and parts of the West Coast.

Between the lines: High building costs and a glut of supply in places like the Sun Belt have made developers cautious about starting new projects.

When new units do arrive, they're mostly luxury apartments.

Meanwhile, more people are renting — partly because homebuying remains out of reach — keeping rents from falling much further nationwide.

What we're watching: Rents could climb soon as more people move in summer.

Salt Lake rents begin to fall

A building boom across the Mountain West is starting to pay off.

A symbol map of 54 U.S. metro areas showing estimated change in median rent from February 2025 to February 2026. Rents decreased in 34 metros, mostly in the South, and increased in 20 metros, mostly in the Northeast and Midwest. Virginia Beach increased the most, by 5.3%, and Austin decreased the mo

A <a class="gtmContentClick" data-vars-link-text="building boom" data-vars-click-url="https://www.axios.com/2025/09/21/new-apartment-construction-rent" data-vars-content-id="18b6ac4a-6b8f-4217-8c7b-02470dc113b0" data-vars-headline="Salt Lake rents begin to fall" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/09/21/new-apartment-construction-rent" target="_self">building boom</a> across the Mountain West has cooled rents — but that relief could fade as new construction slows.Why it matters: Housing is unaffordable for many. Although the median U.S. rent for new leases is down 1.5% from a year ago, it&#x27;s still roughly 20% above pre-pandemic levels, at about <a class="gtmContentClick" data-vars-link-text="$1,400" data-vars-click-url="https://www.apartmentlist.com/research/national-rent-data" data-vars-content-id="18b6ac4a-6b8f-4217-8c7b-02470dc113b0" data-vars-headline="Salt Lake rents begin to fall" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.apartmentlist.com/research/national-rent-data" target="_blank">$1,400</a> a month, per Apartment List.

Latest news on Wall Street, Corporate America and financial regulation.

Business

Data: Realtor.com; Map: Jacque Schrag/Axios

Utah has one of the highest rates in the nation of home listings with HOA dues, Realtor.com data shows.

Why it matters: Those dues are also rising, adding to housing costs just as prices stabilize in Utah's cooling market.

By the numbers: More than 58% of new listings in 2025 included HOA fees, at a median monthly cost of $164.

That's up from $150 in 2024, when 57% of listings were attached to HOAs.  

The big picture: HOAs are claiming a growing share of housing across the West.

The share of listings with HOAs has grown by more than 10% in 14 states since 2019, per Realtor.com's analysis. Half of those, including Utah, were west of the Rockies.

Two of the three biggest jumps were in neighboring Nevada and Arizona, where more than 65% of listings now charge HOA dues.

Between the lines: Condos and townhomes — which make up a growing share of Utah's housing — are likelier than single-family houses to charge HOA fees.

Zoom out: Nationwide, roughly 44% of homes listed for sale on Realtor.com last year had HOA dues, up from 42% in 2024. 

The median monthly fee rose to $135 from $125 in 2024 — and dues can even stretch beyond $500.

Between the lines: Residents pay HOA dues to fund maintenance and amenities like pools and gyms.

Associations also often enforce strict rules on everything from holiday decor to lawn care, with fines for residents who fail to comply.

The bottom line: "The condo's traditional affordability advantage over single-family homes is eroding — and in many markets, it has reversed entirely," housing economist Aziz Sunderji writes in his newsletter, Home Economics.

HOAs gain ground in Utah

Utah has one of the highest rates of home listings with HOA dues, data shows.

A map shows the share of homes listed for sale in 2025 that included HOA fees, by state. On average, 43.6% of listings included HOA fees. The states where HOA fees were most often included were Nevada (68%), Arizona (65%) and Florida (65%).

Utah has one of the highest rates in the nation of <a class="gtmContentClick" data-vars-link-text="home listings with HOA dues" data-vars-click-url="https://www.axios.com/local/salt-lake-city/2025/03/12/salt-lake-hoa-fees-home-listings" data-vars-content-id="e3b03571-531e-4e41-82f8-b7b03aed5775" data-vars-headline="HOAs gain ground in Utah" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/salt-lake-city/2025/03/12/salt-lake-hoa-fees-home-listings" target="_self">home listings with HOA dues</a>, <a class="gtmContentClick" data-vars-link-text="Realtor.com" data-vars-click-url="https://www.realtor.com/research/homeowners-associations-2025" data-vars-content-id="e3b03571-531e-4e41-82f8-b7b03aed5775" data-vars-headline="HOAs gain ground in Utah" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.realtor.com/research/homeowners-associations-2025" target="_blank">Realtor.com</a> data shows.Why it matters: Those dues are also rising, adding to housing costs just as prices <a class="gtmContentClick" data-vars-link-text="stabilize" data-vars-click-url="https://www.kuer.org/business-economy/2026-01-07/utahs-housing-market-is-expected-to-be-running-in-place-in-2026" data-vars-content-id="e3b03571-531e-4e41-82f8-b7b03aed5775" data-vars-headline="HOAs gain ground in Utah" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.kuer.org/business-economy/2026-01-07/utahs-housing-market-is-expected-to-be-running-in-place-in-2026" target="_blank">stabilize</a> in Utah&#x27;s <a class="gtmContentClick" data-vars-link-text="cooling market" data-vars-click-url="https://www.kuer.org/business-economy/2026-01-07/utahs-housing-market-is-expected-to-be-running-in-place-in-2026" data-vars-content-id="e3b03571-531e-4e41-82f8-b7b03aed5775" data-vars-headline="HOAs gain ground in Utah" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.kuer.org/business-economy/2026-01-07/utahs-housing-market-is-expected-to-be-running-in-place-in-2026" target="_blank">cooling market</a>.

Around 1.5% of the Salt Lake metro's rental listings on Zillow are from sellers the platform calls "accidental landlords."

Why it matters: That's one of the lowest shares in the nation of people who pulled their homes off the market and rented them out instead.

State of play: The nationwide share of these "accidental landlord" rental listings on Zillow hit its highest level since late 2022 in October,  according to the real estate site.

That's when 2.3% of U.S. Zillow listings were posted for sale for at least two weeks, then delisted and relisted as a rental within three months.

The surge in rentals coincided with mortgage rates topping 7%.

Yes, but: Salt Lake's real estate market an outlier in the nationwide trend, tied for the 9th-lowest share of listings from these unintentional landlords last October, when the data was collected.

Between the lines: Homes don't linger long enough to become rentals in seller-friendly markets — and the National Association of Realtors named Salt Lake one of its "10 hottest markets for 2026."

The big picture: Accidental landlords add homes to the rental pool, which can help to ease rent costs in cities that have a lot of them.

Zoom out: Texas and Florida had 7 of the 10 metros with the highest shares of accidental landlords, while Denver led at 4.9%.

Shares were lowest in the Northeast and Midwest.

Salt Lake bucks "accidental landlord" trend

Sellers markets don't need to rent their inventory.

A for sale sign switching to a for rent sign and back

Around 1.5% of the Salt Lake metro&#x27;s rental listings on Zillow are from sellers the platform calls &quot;<a class="gtmContentClick" data-vars-link-text="accidental landlords" data-vars-click-url="https://www.zillow.com/research/accidental-landlords-36151/" data-vars-content-id="e56352b5-e07d-4de9-8f8a-e6565ac3d814" data-vars-headline="Salt Lake bucks &quot;accidental landlord&quot; trend" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.zillow.com/research/accidental-landlords-36151/" target="_blank">accidental landlords</a>.&quot;Why it matters: That&#x27;s one of the lowest shares in the nation of people who pulled their homes off the market and rented them out instead.

Pricey meals aren't helping Utah's long-standing reputation for low tips, according to new data from Toast.

By the numbers: Utahns tipped 18.8% on average in Q4 2025, per Toast's latest restaurant trends report. 

Caveat: Utah tipped 19.5% at full-service restaurants — more generously than the national average of 19.2%.

Yes, but: Bigger — and, apparently, stingier — states like California, Texas and New York were pulling down the average. Utah still ranked in the bottom half of states, at No. 35.

Meanwhile, quick-service restaurant tips in Utah were at 15.3% — below the national average of 15.8%.

The big picture: Tipping culture may be under scrutiny, but diners' habits are generally holding steady nationally.

The fine print: The report is based on data from restaurants using the Toast platform.

Zoom out: Delaware, West Virginia, New Hampshire and Indiana are home to America's best tippers, with diners leaving roughly 21% or higher on average.

At the bottom of the list for overall tipping are California, Washington, D.C., and Washington state, where averages run under 18%.

At Utah restaurants, tips still lag

Most states tip more generously — but Utah beats the national average at full-service restaurants.

Erin Davis<erin.davis@axios.com> unread, Apr 1, 2026, 8:37:45 AM to Editorial-visuals, Ashley May, Noah Bressner This is for Ashley In case you need a refresher, here's how to embed data graphics in Eden. Eden embed In Eden, use the embed button and enter this link -> https://datawrapper.dwcdn.ne

Pricey meals aren&#x27;t helping Utah&#x27;s <a class="gtmContentClick" data-vars-link-text="long-standing" data-vars-click-url="https://archive.sltrib.com/article.php?id=58310445&amp;itype=cmsid" data-vars-content-id="f3e0e33e-4808-4439-ac54-ec8eaf46c6c7" data-vars-headline="At Utah restaurants, tips still lag" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://archive.sltrib.com/article.php?id=58310445&amp;itype=cmsid" target="_blank">long-standing</a> <a class="gtmContentClick" data-vars-link-text="reputation" data-vars-click-url="https://www.fox13now.com/2016/01/22/utah-ranks-among-worst-tippers-in-national-study" data-vars-content-id="f3e0e33e-4808-4439-ac54-ec8eaf46c6c7" data-vars-headline="At Utah restaurants, tips still lag" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.fox13now.com/2016/01/22/utah-ranks-among-worst-tippers-in-national-study" target="_blank">reputation</a> for low tips, according to new data from Toast.By the numbers: Utahns tipped 18.8% on average in Q4 2025, per Toast&#x27;s latest <a class="gtmContentClick" data-vars-link-text="restaurant trends report" data-vars-click-url="https://pos.toasttab.com/blog/data/toast-restaurant-trends-report-coffee-prices-2026" data-vars-content-id="f3e0e33e-4808-4439-ac54-ec8eaf46c6c7" data-vars-headline="At Utah restaurants, tips still lag" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://pos.toasttab.com/blog/data/toast-restaurant-trends-report-coffee-prices-2026" target="_blank">restaurant trends report</a>.

Food and Drink

The top cities for online mahjong

National

A table ranks the top 20 U.S. cities for Mahjong 4 Friends players as of April 2026, using active players per 1,000 residents and player growth. Lafayette, Louisiana, ranks first, followed by Raleigh, North Carolina, and Springfield, Missouri. New Orleans ranks 20th.

Top U.S. cities for Mahjong 4 Friends players

Data: Mahjong 4 Friends; Chart: Sami Sparber/Axios

Axios Kansas City

Boomers own KC's family-size homes

Kansas City

Heavy traffic expected July 3 in Kansas City

Axios Portland

Best and worst traffic times around Portland for July Fourth

Portland

A table lists best and worst driving times for the nine-day July 4 holiday period, from June 27 to July 5. Worst traffic usually falls from noon to evening, longest on July 1 at noon-9 p.m. Best travel is generally before late morning or noon, except July 4 after 3 p.m.

Sami Sparber

Featured stories

Salt Lake bucks "accidental landlord" trend

The top cities for online mahjong

Boomers own KC's family-size homes

Heavy traffic expected July 3 in Kansas City

Best and worst traffic times around Portland for July Fourth