High prices and rates keep renters from buying homes – Deseret …

Nov 4, 2024 · Key reasons people aren’t purchasing a home: Can’t afford it/don’t think it’s worth the price. Waiting for interest rates to decrease. Too much credit card debt. Unsure about the …

3%
OFF

Housing Market: Why Rents Are High In Utah, The West

1 week from now

Sacramento-Roseville-Folsom, California— Rent jumped 25.3%, up $369 from a median rent price of $1,461 in 2019 to $1,830 in 2022.Las Vegas-Henderson-Paradise, Nevada— Rent jumped 24.8%, up $295 from a median rent price of $1,190 in 2019 to $1,485 in 2022.Salt Lake City, Utah— Rent jumped 24.6%, up $291 from a median rent price of $1,184 in 2…

ksl.com

5%
OFF

Salt Lake County Is Facing The Tightest Rental Market In Its History ...

1 week from now

Since 2010, the annual increase for rental rates has been 5.5% compared to a 7.9% yearly increase for the median sales price of a condo or a town house, and an 8.5% increase for …

ksl.com

7%
OFF

Mortgage Rates Hit 7%, Posing Another Challenge For Homebuyers

1 week from now

6 hours ago · It's the first time since May 2024 that 30-year mortgage rates have hit that mark. High rates are adding to the affordability challenges many Americans are facing.

npr.org

10%
OFF

Price Gouging After Disasters Like The LA Fires Is Illegal. But It's ...

1 week from now

2 days ago · Property owners may not jack up rental costs more than 10% in the wake of a disaster like the LA fires. Here's what tenants need to know.

usatoday.com

2%
OFF

What Is Causing The Big Drop In Rent? - Investopedia

1 week from now

4 days ago · The median U.S. asking rent fell to $1,594 in December, its lowest level since March 2022 and down 6.2% from its record high of $1,700 in August 2022. When examined by …

investopedia.com

$793
OFF

Why Is Rent So High In Utah? As Prices Rise, Renters ... - Deseret News

1 week from now

Jun 27, 2021 · In 2008, Salt Lake County rents averaged $793. In 2019, that figure climbed to $1,145. In Utah County, rental rates went from $719 in 2008 to $1,188 in 2019. In Davis …

deseret.com

3%
OFF

Here’s Why The Fed’s Most Recent Rate Cut Won’t Fix The US ... - MSN

1 week from now

Home insurance costs are also soaring. The cost of the house itself isn't the only thing that's rising. Homeowners insurance premiums jumped 11.3% in 2023, up from an average annual …

msn.com

7%
OFF

How High Are Mortgage Rates? – Deseret News

1 week from now

2 hours ago · Mortgage rates are once again above 7% after climbing for weeks. A 30-year fixed-rate mortgage in the U.S. averaged 7.04% as of Thursday, according to Freddie Mac’s survey …

deseret.com

FAQs about High prices and rates keep renters from buying homes – Deseret … Coupon?

Is Utah experiencing the tightest rental market in history?

As housing prices reach new heights and even more Utahns are getting priced out of owning a home, Utah’s most populous county is experiencing the tightest rental market in history. (Mengshin Lin, Deseret News) This archived news story is available only for your personal, non-commercial use. ...

Is Salt Lake County's housing shortage causing the 'tightest' apartment market?

"Salt Lake County's housing shortage and high home prices have led to the 'tightest' apartment market in the county's history," with a vacancy rate that, for the first time, dropped below 2% and rental rates jumping up by double-digits, wrote the report's author, James Wood, the institute's Ivory-Boyer senior fellow. ...

How much do renters spend on housing in Salt Lake County?

About 41% of renters in Salt Lake County are spending more than 30% of their income on housing and utilities, and nearly 19% of all renters spend more than 50% of their income. That's 27,500 households in Salt Lake County, Wood wrote, that are spending more than half of their income on housing costs and are severely burdened by housing costs. ...