This article has so many false statistics. Most new developments in Salt Lake
City are above $1.80 per square foot. One of the properties you have a picture
of for this article charges $2.05 per square foot. For a 1 bedroom apartment.A 600 square foot apartment will run you $1200 dollars and a 1000 square
foot 2bed 2 bath will run you at least $1900. Not to mention rent
rates are driven up by mandatory media packages. I appreciate the
purpose of the article but these stats paint a very inaccurate picture of
what's going on in the city.
@at long last. . . "The onus is on YOU and not the
employer."How uncanny. And how convenient. Of course it could
not possibly be the employer's or landlord's fault. Nor the upper hand
they enjoy. After all, the principles of "Free Market" and
"Capitalism" are licenses for unchecked, boundless Greed.
I am a Landlord in Salt Lake City.I sacrificed and saved for the money to
buy a 100 year oldfixer upper in Salt Lake City. No body wanted it . It
was an eyesore.Then I busted my rear end fixing it up and spending $50,000
more dollars putting in a new roof, Kitchen, bathroom, electrical system,
plumbing,and flooring. Why shouldn't I be allowed to rent it for what
the market allows ? Stay in school, get a two year degree from SL
Community College and thengo two more years if you can, at one of the
great schools you have in Utah and get your bachelors degree. Then live within
your means and save every dollar you can so that when you find a good deal on a
house in your price range you can buy it with the down payment you now have
saved.You should work hard to position yourself to make payments on your
own mortgage rather than someone else's mortgage.
Gildas - I am sure there are some greedy landlords, but there is another side to
the story. Observing a million dollar house down the block, being rented by
folks who just moved out, it is going to cost the owner at least $10,000 to
return the property to its' previous condition, possibly it will cost as
much as $25,000 because I only see what the condition is from the street. You
can throw in another $5,000 to restore the messed up landscaping. Additionally
the renters left enough trash in the house to fill a open top dumpster to
overflowing. Although there are surely greedy individuals in the
rental business, there is also much risk involved. My guess is the owner of
this house will not rent it again, but put it on the market for sale. Once
bitten, twice shy.
Real Maverick - If you don't like what companies are paying, then
don't work for them. Go elsewhere. This is not the USSR where you were
assigned work, you have freedom to work for whomever you choose (assuming they
want you) and can move anywhere in the country without limitations. There is no reward to you for complaining, so get on with your life. If you
want more money from a job, then make an employer value you enough to pay what
you want. The onus is on YOU and not the employer.
Maybe Utah companies, with all of the handouts they get taxpayers, should slap
some skin into the system and actually pay their workers? It's unfair that
we the taxpayers pay to bring theee companies here then they don't pay us.
The law of supply and demand is a reality but is the law of the jungle. Never-the-less there is nothing to stop those in the renting business
from offering homes that will allow them a modest profit and a good price for
the renter. We are living in the jungle it seems and there are few if any
civilized people in this business.
Re Egyptian OriginsYou mention a wage of $7.50 / hr.If
you get some secondary education you should be able to easily almost double
that.Check out Nurse practitioner, x-ray tech, plumber, electrician,
construction / construction management l, (automotive technician, in general or
at tunex). .. etc, etc.
Despite the attempt by Biskupski to figuratively 'hold back the tides'
on the affordable housing issue, the law of supply and demand seems to be
functioning. Perhaps we could persuade her to move to Manila, Utah, become
mayor, and then work on more affordable housing there?
Apartment vacancy may be at an all time low but rent prices are at an all time
high making it no worth it to rent. I have rented for years but I'm buying
an overpriced house just because of the absurd rents around here.
@Egyptian OriginsBut you're ignoring all we already do for the
working poor. A hypothetical family of 4 with a single minimum wage would get
over $1,100/month from SNAP and the EITC alone. Also, you're comparing
*minimum* wage earnings to *median* rents, which paints a much darker picture
than what a low income family faces.I'm not saying it's
easy to be poor in the States, and that we don't have more to do to help
those in need, but you're overstating the problem.
To do an "apples-to-apples" comparison of housing affordability in
different metropolitan areas, you really need to look at average salaries &
wages, standard deviation from average salaries & wages (or some other
relevant variance measure), the ACCRA cost of living index for the different
metropolitan areas (or something similar), and relative housing price levels and
trends. It would be a fairly complex analysis, but should yield a meaningful
comparison of housing affordability.I'm not currently aware of
the existence of any such analysis, but that doesn't mean there isn't
one out there...
The low vacancy rate suggests that all the new construction of apartment houses
going in downtown is a very good thing indeed.
Too many greedy landlords. People smart to look elsewhere for an apartment or
to get into an affordable home of their own.
Salt Lake City is a little like Seattle and San Francisco, because it is
starting to be driven by high education level jobs, and there are geological
constraints on growth.In the Liberty Park area I used to rent to
waitresses, students, now it's engineers, and higher skill workers.We will go through more periods of high vacancy, but the trend looks
like higher, and less affordable rents!
Come on! Don't let them fool us into thinking that its a great time to
rent. Do the math. An average of $1000/month for rent for a single person is
still too much to survive with. With an income of $7.50/hour full time job of 40
hours is $300/week; $1200/month. That only leaves $200/month for utilities,
food, transportation, communication (both phone and internet), clothing,
hygiene, etc., not to mention the taxes that are taken out. Then you see that
there is no way for especially a family to survive. Our economic system is
crushing our society, forcing adults to move in with their parents, forcing
wives to abandon their young children to also work, forcing people to take on
multiple jobs, forcing people to rent from apartment tenants, etc. Don't be
fooled, there is an economic crisis and all our government does about it is go
deeper into debt, just like society has to do, and raise our taxes.
You need a credit check, first and last month deposit and cleaning deposit.
It's easier to save that money and make a mortgage payment. So the monthly
payments go into something you own rather then out the window. And wages are
much lower here in Utah.
Utah is becoming a big city. Apartments downtown at all sized and for varied
incomes is a great idea to take the pressure off of the housing market.Not everyone wants a house in the suburbs.
"As much as our rents have increased here in the past seven or eight years,
we are still relatively very affordable when you compare us to surrounding
cities (like San Francisco, Denver or Seattle)," he said.It is
quite comical that San Francisco and Seattle are chosen as surrounding cities,
with some of the most expensive real estate west of the Mississippi.A better measure would be an average rent vs. average income ratio for SLC and
"surrounding cities". I would be surprised if SLC still comes out as
Salt Lake County may have cheaper rent than San Francisco and Seattle, but our
wages here are lower. Teachers, cops, and others making lower wages are forced
out of the housing market in much of Salt Lake County.