LOGAN – A recent study of large-scale multifamily properties across the state of Utah indicates that Logan is the second most expensive city for renters. Provo tops the list at $1,414 in average rent, with Logan close behind at $1,370 a month. Both are communities with large student populations and young families who cannot yet afford their own homes.
The information published on RENTCafe.com indicates that rents throughout the state did not grow dramatically over the summer and that apartment rents actually declined slightly in Logan by 0.2%.
The study, performed by Yardi Matrix, uses the actual rent charged in apartment buildings with 50 or more rental units. Besides large apartment complexes near Utah State University for students, several more apartment complexes of this size are being proposed or currently under construction around Logan. A 75-unit apartment complex, called Mill Creek Apartments, is being proposed at the corner of 100 South 100 West in Logan. A 120-unit complex, called L59, has received approval to be constructed at 150 South 100 East in Logan. Additionally, a 136 unit mixed-use apartment building is being discussed to replace the Emporium in downtown Logan.
A 180-unit apartment complex, called Foothill Lofts, is currently under construction near USU at 1200 East and 1300 North.
The study also provided information about the most expensive zip codes for renters in the country. They include multiple zip codes in New York City (the most expensive rentals are in Manhattan at an average of $6,211 a month), Los Angeles (topping out at $4,944 a month) and San Francisco (at $4,858 a month). The most expensive zip code in Utah is 84103, around and above Capitol Hill in Salt Lake City, at $1,683 monthly.