Trouble is that rents in Salt Lake County grew by 9.2 percent over the past year - the largest 12-month increase in more than a decade - mainly because of high demand for lower-priced units, making them not so affordable anymore.
For example, studio apartment units on the west side of Salt Lake County averaged $478 last year, but after an 8.9 percent increase, now average $521 per month, according to a twice-yearly report by Apartment Realty Advisors of Salt Lake City.
Part of the high demand for rentals, which has outpaced the rate of new construction, stems from years of home-price increases that have made it more difficult for low- to moderate-income families to afford to buy a home, especially at today's higher interest rates. Tighter lending standards haven't helped.
Rising costs for food and gasoline could be an even larger factor, prompting renters to "trade down" to more affordable units, said Jed Millburn of Apartment Realty Advisors.
Scott Jones and wife Vickie, for example, both of whom are on disability, said they have seen their rent at a two-bedroom duplex near downtown Salt Lake City rise to $800 per month from $650 two years ago.
With another increase expected this year, the couple packed up and moved to a less-expensive, one-bedroom unit at a nearby apartment complex that rents for $525 monthly.
"Now we have enough money to eat at the end of the month," Scott Jones said.
He added that the search for a new apartment was frustrating. "There was hardly anything available, and what is available was really expensive or dilapidated."
The rental report supports his claim.
In Salt Lake County, vacancies - the share of empty units - are up slightly over the last year, from 4.5 percent to 5.3 percent.
Millburn said a vacancy rate around 5 percent indicates a tight rental market, one where renters may find limited choices in the price range and location they desire.
The 9.2 percent increase in rents comes after two years of similarly hefty increases. Rents increased 5.1 percent from 2005-2006 and 8.8 percent from 2006-2007.
One way to find lower rents, of course, is to shop around and lease a smaller unit. But Millburn said renters are coping in other ways, as well.
"People are moving to older apartment units with fewer amenities to stay within their budget."
The higher rents and low vacancies detailed in the ARA report don't surprise those who work to find affordable apartment units for Utah renters.
Six months ago, there were vacant units available at The LaPorte Group's seven apartment complexes in Salt Lake City, which are geared to low-income residents, said the company's Rob Sampson.
Residents in the 300 units at those affordable complexes must earn below certain income levels to qualify for the below-market rents of $350 to $700 per month.
Today? There's a waiting list.
Rental assistance
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For help finding an affordable unit, including those with below-market rents for people with low incomes, go to www.hud.gov/renting/local.cfm and click on "Utah."
