|
|
Mid Year Stats for Salt Lake: Click below!
Stats for Salt Lake City
Salt Lake County 2003 to June 2006 Rental Rate Summary
| Studios |
2003 |
2004 |
2005 |
June 2006 |
| Average Rent |
$410 |
$413 |
$419 |
$424 |
| Average Square Feet |
410 |
408 |
406 |
406 |
| Average Price/Sq Ft |
$1.00 |
$1.01 |
$1.03 |
$1.04 |
 |
 |
 |
 |
 |
| 1 Bedroom, 1 Bath |
2003 |
2004 |
2005 |
June 2006 |
| Average Rent |
$547 |
$551 |
$559 |
$568 |
| Average Square Feet |
651 |
652 |
652 |
652 |
| Average Price/Sq Ft |
$0.84 |
$0.85 |
$0.86 |
$0.87 |
 |
 |
 |
 |
 |
| 2 Bedroom, 1 Bath |
2003 |
2004 |
2005 |
June 2006 |
| Average Rent |
$604 |
$613 |
$619 |
$627 |
| Average Square Feet |
887 |
881 |
882 |
882 |
| Average Price/Sq Ft |
$0.68 |
$0.70 |
$0.70 |
$0.71 |
 |
 |
 |
 |
 |
| 2 Bedroom, 1 ½ Bath |
2003 |
2004 |
2005 |
June 2006 |
| Average Rent |
$655 |
$654 |
$680 |
$686 |
| Average Square Feet |
1,020 |
1,011 |
1,012 |
1,015 |
| Average Price/Sq Ft |
$0.64 |
$0.65 |
$0.67 |
$0.68 |
 |
 |
 |
 |
 |
| 2 Bedroom, 2 Bath |
2003 |
2004 |
2005 |
June 2006 |
| Average Rent |
$746 |
$762 |
$774 |
$797 |
| Average Square Feet |
991 |
995 |
994 |
994 |
| Average Price/Sq Ft |
$0.75 |
$0.77 |
$0.78 |
$0.80 |
 |
 |
 |
 |
 |
| 3 Bedroom, 2 Bath |
2003 |
2004 |
2005 |
June 2006 |
| Average Rent |
$803 |
$839 |
$844 |
$859 |
| Average Square Feet |
1,176 |
1,199 |
1,199 |
1,200 |
| Average Price/Sq Ft |
$0.68 |
$0.70 |
$0.70 |
$0.72 |
 |
 |
 |
 |
 |
| Townhouses |
2003 |
2004 |
2005 |
June 2006 |
| Average Rent |
$812 |
$807 |
$810 |
$834 |
| Average Square Feet |
1,341 |
1,331 |
1,303 |
1,303 |
| Average Price/Sq Ft |
$0.61 |
$0.61 |
$0.62 |
$0.64 |
 |
 |
 |
 |
 |
| Total Average Rents |
2003 |
2004 |
2005 |
June 2006 |
| |
$633 |
$632 |
$641 |
$653 |
 |
 |
 |
 |
 |
| Total Average Sq Ft |
2003 |
2004 |
2005 |
June 2006 |
| |
839 |
838 |
837 |
837 |
 |
 |
 |
 |
 |
| Total Price per Sq Ft |
2003 |
2004 |
2005 |
June 2006 |
| |
$0.75 |
$0.75 |
$0.77 |
$0.78 |
Salt Lake County Multiple Listing Service Area Map
2005 Greater Salt Lake Area Multi-Family Operating Expenses Properties of 50 Units and Larger
| |
Percent |
Cost/Sq. Ft. |
Cost/Unit |
| Administrative |
5% |
$0.15 |
$130 |
| Management Fee |
10% |
$0.32 |
$273 |
| Advertising |
7% |
$0.23 |
$196 |
| Turnover Costs |
7% |
$0.22 |
$191 |
| Maintenance |
10% |
$0.33 |
$278 |
| Payroll |
30% |
$0.98 |
$835 |
| Utilities |
13% |
$0.45 |
$379 |
| Taxes |
14% |
$0.46 |
$390 |
| Insurance |
5% |
$0.17 |
$146 |
| Total |
100% |
$3.31 |
$2,816 |
| |
|
|
|
| Reserves |
|
|
$356 |
| TOTAL EXPENSES |
|
|
$3,172 |
|
|