Salt Lake City has been a growing metropolis for many years. Within the Salt Lake City area, there are approximately 81,000 housing units. Of this total, there are about 40,000 occupied rental units, 6,000 vacant units and a very low rental vacancy rate of 3.8%. There are approximately 500 available houses for rent in the Salt Lake City area at any given time.
One somewhat concerning trend not only in Salt Lake City but also nationally is the rent to income ratio getting above the standard 30%. A rent calculator can help you estimate the right amount of rent you can afford so you are below that 30% rent to income ratio. In Salt Lake, almost 50% of the renters are paying more than 30% of the monthly income on their rent. This is not sustainable as rental rates continue to increase but wages do not.
41% of the Houses in the city have 3 bedrooms or more. For rental units, 56% of the rental inventory is less than $1,000 a month. Only 2% of the rental units are above $2,000. This makes Salt Lake a rather affordable place to live if your income is around or above the Utah state average of $65,97. The overall average rental rate is $1,088 with the price by bed breaking out as follows:
Studio - $802
One Bedroom - $988
Two Bedroom - $1,153
Three Bedroom - $1,378
Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake or SLC. With an estimated population of 183,171, the city lies in the Salt Lake City metropolitan area, which has a total estimated population of 1,130,293. Salt Lake City is further included in a larger urban area known as the Wasatch Front, which has an estimated population of 2,298,915.
Salt Lake City was founded in 1847 as Great Salt Lake City by a group of Mormon pioneers led by their prophet, Brigham Young, who left behind hostility and violence in the Midwestern United States. Mining booms and the construction of the first transcontinental railroad initially brought economic growth, and the city was nicknamed the Crossroads of the West. Salt Lake City has since developed a strong outdoor recreation tourist industry based primarily on skiing. Salt Lake City was host to the 2002 Winter Olympics and is the industrial banking center of the United States.
The climate of Salt Lake City is characterized as semi-arid, with four distinct seasons. Both summer and winter are long, with hot, dry summers and cold, snowy winters, and with spring and fall serving as brief but comfortable transition periods. The city receives 16.50 inches of precipitation annually. Spring is the wettest season, while summer is very dry. Snow occurs on average from November 6 to April 18, producing a total average of 61 inches.
The modern economy of Salt Lake City is service oriented. In the past, nearby steel, mining and railroad operations provided a strong source of income with Silver King Coalition Mines, Geneva Steel, Bingham Canyon Mine, and oil refineries. Today the city's major industries are government, trade, transportation, utilities, and professional and business services. The city is known as the "Crossroads of the West" for its central geography in the western United States.
Other economic activities include tourism, conventions, and major suburban call centers. Tourism has increased since the 2002 Olympic Winter Games, and many hotels and restaurants were built for the events. The convention industry has expanded since the construction of the Salt Palace convention center in the late 1990s, which hosts trade shows and conventions.
Salt Lake City is home to one Fortune 500 company, Huntsman Corporation, and two Fortune 1000 companies, Zions Bancorporation and Questar Corporation respectively. Other notable firms headquartered in the city include AlphaGraphics, Sinclair Oil Corporation, Smith's Food and Drug (owned by national grocer Kroger), and Vehix.com
Salt Lake is home to several museums. Near Temple Square is the Church History Museum. Operated by The Church of Jesus Christ of Latter day Saints, the museum contains collections of artifacts, documents, art, photographs, tools, clothing and furniture from the history of the LDS Church, which spans nearly two centuries. Use rentbits when you search for apartments for rent near Temple Square and houses for rent near Temple Square. Rentbits is a great place to find apartments for rent and houses for rent near all of the LDS and Mormon landmarks in Salt Lake City! Have you ever thought of living close to where the LDS church was born? Use rentbits when you are looking for rentals in Salt Lake City and when you want to live near Temple Square and the Mormon Tabernacle Choir!
The University of Utah campus is home to the Utah Museum of Fine Arts as well as the Utah Museum of Natural History. West of the university, at the Gateway District near downtown, is the Clark Planetarium, which houses an IMAX theater, and Discovery Gateway, a children's museum. Salt Lake also is home to several classic movie theaters including the Tower Theatre and the now closed Trolley Corners and Villa Theatre. Other museums include the Utah State Historical Society, Daughters of Utah Pioneers Memorial Museum, Fort Douglas Military Museum, and the Social Hall Heritage Museum.
Salt Lake City is the home of the Mormon Tabernacle Choir, founded in 1847. The Choir's weekly program, called Music and the Spoken Word, is the longest running continuous network broadcast in the world.
Salt Lake City is the headquarters for The Church of Jesus Christ of Latter day Saints (LDS Church) and has many LDS related sites open to visitors. The most popular is Temple Square, which includes the Salt Lake Temple (not open to the general public) and visitors centers that are open to the public, free of charge. Temple Square also includes the historic Tabernacle, home of the world famous Mormon Tabernacle Choir. The modern LDS Conference Center is across the street to the north. The Family History Library, the largest genealogical library in the world, is located just west of Temple Square. It is run by the LDS Church and is open to the public and free of charge. Adjacent to Temple Square is also the Eagle Gate Monument.
Salt Lake City is home to the Utah Jazz of the National Basketball Association (NBA), who moved from New Orleans in 1979 and play their home games in EnergySolutions Arena. They are the only team from one of the four top level professional sports leagues in the state. They have been to the playoffs in 22 of the last 25 seasons, making them among the most successful in the NBA in that time span, but have yet to win a championship.
Like all major American cities, Salt Lake City has a variety of neighborhoods that contribute to the variety and character of the city, including: The Avenues, Capitol Hill, Central City, Downtown, Foothill, Fairpark, Federal Heights, Glendale, Poplar Grove, Rose Park, Sugar House, University, 9th and 9th and Yalecrest. Use rentbits to find apartments for rent in all of these great Salt Lake City neighborhoods. All of the great Salt Lake City neighborhoods have fantastic houses for rent as well.
Salt Lake City's mass transit service is operated by the Utah Transit Authority (UTA) and includes a bus system, light rail, and a commuter rail line. The 19 mile light rail system, called TRAX, consists of two lines originating downtown at the Salt Lake City Intermodal Hub; one line, which opened in 1999, heads south to Sandy and the other, opened in 2001, splits east to the University of Utah. Daily ridership averages 45,400 (as of the second quarter of 2008), significantly above original projections, and is the eleventh most ridden light rail system in the country. Check out rentbits when you are looking for apartments for rent near UTA and houses for rent near UTA. Rentbits is also a fantastic place to search for apartments for rent near the SLC Light Rail and houses for rent near the SLC light rail.
Salt Lake City International Airport is located approximately 4 miles west of downtown. Delta Air Lines operates a hub at the airport, serving over 100 non stop destinations throughout the United States, Mexico, and Canada, as well as Paris and Tokyo.
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