The median asking rent in the Salt Lake City area decreased by 6.5% in January 2024, marking the largest decline since August 2023. Redfin reports that only Austin, Texas, and Tampa, Florida, experienced larger drops in asking rents. The report attributes the decline to increased housing supply outpacing demand.
<p>SALT LAKE CITY — Believe it or not, the median asking rent in the Salt Lake area fell last month to $1,476, a 6.
 Another Florida city, Jacksonville, came in fourth behind the Salt Lake area, with a 6.4% drop, followed by New York, where the number was down 5%.
RENT DECLINE SALT LAKE CITY REDFIN HOUSING MARKET AFFORDABILITY
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