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Market Overview

9 min / 7 mi

• One of the fastest-growing metro areas in the country, with accolades including
#1 most fiscally fit city (Sperling’s Best Places), #1 market for job diversification
(Bloomberg), and #2 job growth in America (U.S. Bureau of Statistics)

• Drawn by its business-friendly policies, major employers have flocked to Salt
Lake City, including big names like Amazon, Adobe, Microsoft, Intel, eBay and
more, which is driving population in-migration and stimulating multifamily
development to meet demand
Pioneer
• Ranked as a top 10 U.S. city best positioned to recover from coronavirus (Moody’s
Analytics), thanks to its diversified economy, low density, strong municipal Park
fiscal health, pro-business policies during the shutdown, and relatively low
transmission rates compared to major coastal cities

• An attractively priced, furnished and highly amenitized studio offering will be
well received in the Downtown Salt Lake City market where there is a shortage
of quality studio units with average Class A studio rents reaching nearly $1,300. Salt Lake Central Station
W 500 S
W 500 S
• Robust multifamily fundamentals represent a favorable environment for
apartment rental, including 8.6% projected population growth over the next D
five years (1-mile radius), $80,700+ average household income (5-mile radius), Post District
55,150+ employees (1-mile radius), and 77.9% rentership (1-mile radius)
580 Apartments
• Despite record pricing, Salt Lake City remains an affordable alternative to other 300K SF Office & Retail
major West Coast markets while offering the opportunity for further rent growth
as its economy continues to evolve and expand Trax Green Line
Trax Blue Line
Trax Red Line
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