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Calf roping controversy at Utah State Fair prompts allegations of rodeo cruelty

Images from the Utah State Fair rodeo prompt criticism of new state law.

News

Tech growth could change what counts as super rich in Utah

Tech sector growth here could turn today's top 1% into tomorrow's ho-hum yuppies.

Business

Raising Cane's Post Malone-themed cups go national

The limited-edition cups, which reflect Malone's imagery and tattoos, will be released over a two-month period.

Utah hosts ultimate disc tourney while on probation for LGBTQ slurs

Players who were targeted by Utah's spectators say they're uneasy.

Salt Lake City's new apartment construction has skyrocketed

The number of new apartment units completed in the Salt Lake metro rose 20.8% between 2020 and 2022.

Real Estate

As developers have ramped up construction compared to 2020, roughly 4,525 new apartment units are expected to be built in the Salt Lake metro area this year, according to a <a class="gtmContentClick" data-vars-link-text="new report by RentCafe" data-vars-click-url="https://www.rentcafe.com/blog/rental-market/market-snapshots/new-apartment-construction/" data-vars-content-id="94aebc39-8c88-4008-af3a-8e36d6b83ff3" data-vars-headline="Salt Lake City&#x27;s new apartment construction has skyrocketed" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.rentcafe.com/blog/rental-market/market-snapshots/new-apartment-construction/" target="_blank">new report by RentCafe</a>.Why it matters: A <a class="gtmContentClick" data-vars-link-text="housing shortage" data-vars-click-url="https://www.axios.com/2023/06/20/housing-shortage-prices-high" data-vars-content-id="94aebc39-8c88-4008-af3a-8e36d6b83ff3" data-vars-headline="Salt Lake City&#x27;s new apartment construction has skyrocketed" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/06/20/housing-shortage-prices-high" target="_self">housing shortage</a> in the U.S. has contributed to the rising cost of rent and home purchases.

Salt Lake's effective property tax rate among lowest in nation

Effective tax rates are dropping as assessors struggle to keep up with rising home prices.

Salt Lake City has one of the lowest effective property tax rates in the nation — a common feature of America&#x27;s wealthier cities.By the numbers: The effective property tax rate for a median-valued home in Salt Lake was 0.58% in 2022 — the fifth lowest among the largest cities in all 50 states, Axios&#x27; Jennifer A. Kingson reports.

Salt Lake buyers turn to condos over single-family homes

More buyers have turned to condos and townhomes as housing costs surge.

Salt Lake City metro condo prices fell slower than those of single-family homes, per the latest Zillow data that analyzed prices between January 2019 and May 2023.<ul><li>In May, the typical metro-area condo sold for $$365,300, down 3.7% compared to last year. Meanwhile, the typical single-family home here cost $$546,300, down 5.2%% year-over-year.</li></ul>

Utah's Zillow audience is becoming more local as relocations slow nationwide

Pageview data for Utah listings aligns with a national trend: Home prices are too high for people to move.

People in expensive Western cities make up a shrinking share of searches for Utah homes, an Axios analysis of Zillow data shows.Driving the news: The people searching for homes in Utah are, increasingly, already here, according to pageview data Zillow shared with Axios, comparing the first quarter of this year to last.

A chart shows most Zillow pageviews for Salt Lake Houses come from within Utah.

Check out this groovy "Brady Bunch" house in Provo, Utah

Sometimes that medieval-motif metallic wallpaper is just too groovy to flip.

A well-preserved <a class="gtmContentClick" data-vars-link-text="Provo home" data-vars-click-url="https://www.zillow.com/homedetails/3420-Navajo-Ln-Provo-UT-84604/11924076_zpid/?utm_source=zillowgonewild&amp;utm_medium=zillowgonewild&amp;utm_campaign=zillowgonewild" data-vars-content-id="8eec8781-b86c-4312-a901-783a8af982b6" data-vars-headline="Check out this groovy &quot;Brady Bunch&quot; house in Provo, Utah" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.zillow.com/homedetails/3420-Navajo-Ln-Provo-UT-84604/11924076_zpid/?utm_source=zillowgonewild&amp;utm_medium=zillowgonewild&amp;utm_campaign=zillowgonewild" target="_blank">Provo home</a> is offering a window into the 1970s with its dizzying wallpaper, step-up living room and groovy patchwork of vintage carpets.<ul><li>And its &quot;Brady Bunch&quot; echoes are getting national notoriety thanks to &quot;<a class="gtmContentClick" data-vars-link-text="Zillow Gone Wild" data-vars-click-url="https://twitter.com/zillowgonewild/status/1680986131356065793" data-vars-content-id="8eec8781-b86c-4312-a901-783a8af982b6" data-vars-headline="Check out this groovy &quot;Brady Bunch&quot; house in Provo, Utah" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://twitter.com/zillowgonewild/status/1680986131356065793" target="_blank">Zillow Gone Wild</a>&quot; on Twitter.</li></ul>

A curving staircase with green shag carpet and wrought iron rails swirls over metallic wallpaper depicting medieval scenes.

Utahns' exceptionally-low mortgage rates are locking up housing stock

Utah homeowners enjoy the nation's lowest percentage of high mortgage rates. That makes it hard to sell.

Utah had the nation&#x27;s lowest share of homeowners paying mortgage rates higher than 6% by the end of last year, per Redfin data shared with Axios.<ul><li>That&#x27;s locking homeowners in place and leaving buyers with few homes to choose from.</li></ul>

Here's how long it takes to save for a down payment in Utah

The share of first-time buyers in the U.S. has shrunk to a record low as inventory and affordability issues persist.

It&#x27;ll take Utahns 10.7 years to save for a 10% down payment on the typical home, Zillow <a class="gtmContentClick" data-vars-link-text="data" data-vars-click-url="https://www.zillow.com/research/understanding-affordability-32538/" data-vars-content-id="35be1851-c000-440e-ad68-9b8fcc3e526b" data-vars-headline="Here&#x27;s how long it takes to save for a down payment in Utah" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.zillow.com/research/understanding-affordability-32538/" target="_blank">data</a> shows.<ul><li>That accounts for saving 5% of the median household income every month, Axios&#x27; Sami Sparber reports.</li></ul>

Here's what $1,500 rent gets you in Salt Lake City

Find out which western cities give renters the most bang for their buck.

Rent is climbing in Salt Lake City — but among other western cities, it&#x27;s about in the middle.Driving the news: A <a class="gtmContentClick" data-vars-link-text="monthly rent of $1,500" data-vars-click-url="https://www.rentcafe.com/blog/rental-market/market-snapshots/rental-space-for-1500/" data-vars-content-id="fcc8a70a-05ec-4c4b-b318-691c4ff7b215" data-vars-headline="Here&#x27;s what $1,500 rent gets you in Salt Lake City" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.rentcafe.com/blog/rental-market/market-snapshots/rental-space-for-1500/" target="_blank">monthly rent of $1,500</a> can get you a 742-square-foot apartment in Salt Lake City, smaller than the national average of 782 square feet, per a new report from listing service RentCafe.

Utah is big on tourism — but not vacation homes

"Summer" is not a verb 'round these parts.

For a massive tourism destination with vast natural beauty, Utah has a surprisingly low number of vacation homes, U.S. Census data shows.By the numbers: About 3.5% of Utah&#x27;s homes are vacation homes — below the national average of 4%.

Salt Lake City's Airbnb hosts are making a killing

Renting out your home is one way to bank extra income as the cost of living goes up.

Salt Lake City Airbnb hosts made 11% more than the typical host nationwide last year, according to company figures shared with Axios.Why it matters: Renting out your home is one way to bank extra income as <a class="gtmContentClick" data-vars-link-text="the cost of living goes up" data-vars-click-url="https://www.axios.com/2022/03/02/axios-event-rising-cost-of-living" data-vars-content-id="ed08de3c-6681-4967-b0cb-810a9b007df6" data-vars-headline="Salt Lake City&#x27;s Airbnb hosts are making a killing" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2022/03/02/axios-event-rising-cost-of-living" target="_self">the cost of living goes up</a>, Axios&#x27; Sami Sparber writes.

Real Estate 🏠