4. Wasatch Front overall vacancy is 4.5%
Rents increased in Salt Lake County by 26% since 2011, while vacancies reduced by 60 basis points from 5.2% to 4.6%
Wasatch Front rent reaches all-time average high of $1.15 per square foot
Along the Wasatch Front, new projects have absorbed units at a rate of approximately 18 per month with Salt Lake County absorbing units at approximately 20 per month
Davis County showed the lowest vacancy rate out of all four counties along the Wasatch Front at 2.9%
Downtown and Sugarhouse lead the multifamily market, driving rental rates to new levels
Permits for 3,278 multifamily units in Salt Lake County were issued in the past 12 months from June 2016, up 639 units from the prior year
© 2016 CBRE, Inc.

5. Lifestyle is top priority
Getting married later
Desire to be mobile
Lifestyle is top priority
© 2016 CBRE, Inc.

6. Newer communities built after 2010 carried the lowest vacancy of 2.8%
Suburban markets tend to be more affordable alternatives
© 2016 CBRE, Inc.

7. © 2016 CBRE, Inc.

8. © 2016 CBRE, Inc.

10. Source: CBRE, Inc.
© 2016 CBRE, Inc.

11. Source: CBRE, Inc.
Average rents for both Downtown & Sugarhouse locations are $1.52 and $1.48/sq. ft., respectively
© 2016 CBRE, Inc.

12. 17% increase between 2013 and 2016 across all unit types
Source: CBRE, Inc.
Monthly rental rates for studio, 1 bed/1 bath and 2 bed/2 bath units have realized 19% rent growth since end-of-year 2013
2 bed/1 bath and 3 bed/2 bath units rental rate increases at 17% and 16% respectively
17% increase between 2013 and 2016 across all unit types
© 2016 CBRE, Inc.

13. Source: CBRE, Inc.
© 2016 CBRE, Inc.

14. Source: CBRE, Inc.
© 2016 CBRE, Inc.

15. Source: CBRE, Inc.
© 2016 CBRE, Inc.

16. Source: CBRE, Inc.
© 2016 CBRE, Inc.

17. Source: CBRE, Inc.
© 2016 CBRE, Inc.

18. Source: CBRE, Inc.
© 2016 CBRE, Inc.

19. 16,602 units were added to the Wasatch Front
Source: Western States Multifamily
16,602 units were added to the Wasatch Front
Rents went up by 26% in Salt Lake County from $791 to $996 per month
Vacancies decreased by 60 basis points from 5.2% to 4.6%
9,530 units are currently under construction
12,219 units have been identified as potential starts
© 2016 CBRE, Inc.

21. Annual effective rent growth will slow to approximately 3% in 2017
The market vacancy rate is expected to stay below 5% through the balance of 2016 and well into 2017, but is projected to be above 7% by 2019 
Demand is anticipated to remain robust in the near term, although some overbuilding will delay stabilization periods in the latter part of 2017
Annual effective rent growth will slow to approximately 3% in 2017 
Over the next 12 months, financial markets will continue to be eager to invest in multifamily projects
8,894 units are currently under construction along the Wasatch Front and will be brought to market within the next 18 months— 6,226 are located in Salt Lake County
Wasatch Front potential starts over the next 12 months or later total 10,627 units
© 2016 CBRE, Inc.