Utah Multifamily Buyer
Sell Your Commercial Property In Utah
Utah combines one of the youngest populations in the country with a fast-growing technology sector, producing some of the strongest household formation in the U.S.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
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Browse Utah By County
We also buy in Park City, and communities statewide.
Local Market Data
Utah Apartment Market
Figures gathered October 2026 from public market data.
To sell commercial property in Utah, start with the numbers buyers price against. Statewide median gross rent was $1,496 a month and rental vacancy sat at 5.5%, per the Census Bureau's 2020-2024 American Community Survey. Renters occupy 29.8% of Utah's 1,124,822 occupied homes, and 16.1% of Utah's 1,223,468 housing units sit in buildings of five or more units.
Those statewide figures mask real spread across Utah's counties. Salt Lake County posts a $1,592 median gross rent and 1,196,523 residents, while Washington County's rental vacancy runs as high as 10.6% and Utah County's sits at just 2.7%. Below, Utah rents, five-year trends, county figures and the state's landlord and tax rules sit side by side, so an owner can see how a buyer will read a building before any offer arrives.
Household income gains
Utah median household income rose 32.9%, from $71,621 to $95,166, between the 2015-2019 and 2020-2024 ACS periods, per table B19013.Larger-building stock growth
Units in Utah buildings with five or more units rose 21.9% to 196,557 between the two ACS periods, per Census table B25024.University of Utah enrollment
The University of Utah enrolls more than 38,000 students and holds $781 million in FY25 research funding, per the university's own figures.The Utah rental market at a glance
Utah had 334,678 renter households in the Census Bureau's 2020-2024 American Community Survey, or 29.8% of 1,124,822 occupied homes. Owners hold the other 70.2%. Apartment-style stock is modest: 196,557 Utah housing units, 16.1% of the total, sit in buildings of five or more units, per ACS table B25024.
Utah rental vacancy stood at 5.5% in the 2020-2024 DP04 housing profile. Statewide median household income was $95,166, so the $1,496 median gross rent equals about 18.9% of a typical household's gross income. Renters feel more strain than that average suggests: 47.2% of Utah renter households paid 30% or more of income on rent, per ACS table B25070.
Five-year trends in Utah
Utah median gross rent rose 44.3% between the 2015-2019 and 2020-2024 ACS periods, from $1,037 to $1,496 a month. Median household income grew 32.9% over the same span, from $71,621 to $95,166. Rents therefore outran incomes by 11.4 percentage points.
Utah added 43,064 renter households between the two periods, a 14.8% gain. Units in five-plus buildings rose 21.9%, adding 35,376 units statewide. Employment grew 14.5% over the same stretch, keeping close pace with renter-household growth.
Growth was uneven across Utah's five largest counties. Weber County rents rose 54.8% and Washington County rents 54.3%, the two fastest gains in this group. Utah County added renter households fastest, at 19.9%, while Davis County's renter households grew just 9.3%.
Utah county comparison
Median gross rent across Utah's five covered counties ranges from $1,379 in Weber County to $1,621 in Davis County. Rental vacancy runs from 2.7% in Utah County to 10.6% in Washington County, per each county's 2020-2024 ACS figures.
| County | Median gross rent | Renter share | Share of units in 5+ buildings | Rental vacancy |
|---|---|---|---|---|
| Salt Lake County | $1,592 | 33.9% | 23.3% | 5.5% |
| Utah County | $1,541 | 31.7% | 16.3% | 2.7% |
| Davis County | $1,621 | 22.7% | 11.3% | 5.3% |
| Weber County | $1,379 | 25.9% | 13.3% | 4.9% |
| Washington County | $1,566 | 28.4% | 9.7% | 10.6% |
Salt Lake County leads this list on renter share, at 33.9%, and units in five-plus buildings, at 23.3%. Davis County is the most owner-heavy of the five, with renters in just 22.7% of occupied homes, while Washington County has the smallest apartment-style stock, at 9.7%, and the highest rental vacancy, at 10.6%.
Utah landlord, tax and transfer rules
Utah Code 57-20-1 bars a city, county or town from enacting an ordinance that controls rents or fees on private residential property unless the Legislature expressly approves it. No Utah locality currently holds that approval, so no rent cap applies to Utah apartment buildings today.
Utah sets no statutory cap on security deposits. Utah Code 57-17-3 requires the owner to mail, deliver or electronically send the deposit balance, any prepaid rent and a written itemization of deductions no later than 30 days after the renter vacates and returns possession.
Utah Code 59-2-103 values all property at fair market value as of January 1 each year. A 45% residential exemption, leaving 55% of value taxable, reaches any unit, including an apartment, where a tenant lives as a primary residence; the one-primary-residence-per-household cap in the statute applies to an owner's own home, not to tenant-occupied units in a rental building.
To end a monthly tenancy, Utah Code 78B-6-802 requires 15 calendar days' notice; nonpayment moves to unlawful detainer after a written pay-or-surrender notice and three business days. Utah has no statewide real estate transfer tax; Salt Lake County's recorder charges a flat $40 per recorded document instead of a percentage fee.
What this means if you sell in Utah
Owners who sell commercial property in Utah are priced on rent rolls, vacancy and the next tax bill. A building in Utah County, at 2.7% vacancy, reads differently to a buyer than one in Washington County at 10.6%.
Taxes deserve a close look, since Utah's 45% residential exemption can apply unit by unit wherever a tenant's primary residence sits, not only to an owner-occupant's own home. With no state transfer tax, the main recurring cost is the annual certified tax rate the county auditor and State Tax Commission set each year.
We review Utah buildings of five or more units in Salt Lake, Utah, Davis, Weber and Washington counties and elsewhere across the state. Send the rent roll and the latest Utah County tax notice, and we will set the property against these county figures.
Local Knowledge
Selling Multifamily In Utah
Every state has its own tax, legal, and market dynamics. A few things we factor into every Utah offer:
- No Utah city can cap rents without express Legislature approval under Utah Code 57-20-1.
- Utah Code 57-17-3 requires deposit refunds and an itemized statement within 30 days of move-out.
- Utah taxes rental units at fair market value each January 1, with a 45% exemption for tenant-occupied units.
- Statewide rental vacancy was 5.5% in 2020-2024, but county rates range from 2.7% to 10.6%.
Seller Guides
Selling In Utah? Common Situations We Handle
From The Blog
Utah Market Insights
Our Buy Box
What We Buy In Utah
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
How Selling To Us Works
- 01
Submit The Deal
Send the address, unit count, asking price, and a rent roll or T-12 if you have them.
- 02
Initial Review
We review it against our buy box and give clear feedback — typically within 48 hours.
- 03
Underwriting & LOI
If it fits, we underwrite in detail and submit a written letter of intent.
- 04
Diligence & Close
Inspections and financing on the agreed timeline, then a professional, predictable closing.
Utah Seller FAQ
What should I check before I sell commercial property in Utah?
Start with rents and vacancy, since buyers do. Utah median gross rent was $1,496 a month and rental vacancy 5.5% in the Census Bureau's 2020-2024 ACS. Then check the January 1 valuation, because Utah Code 59-2-103 assesses rental property at fair market value every year.
Does Utah charge a transfer tax when an apartment building sells?
No. Utah has no statewide real estate transfer tax. Salt Lake County's recorder charges a flat $40 per recorded document instead of a percentage fee. The recurring cost is the annual property tax, set on each January 1 market value under Utah Code 59-2-103.
Can Utah cities limit how much I raise rents on an apartment building?
Rarely. Utah Code 57-20-1 bars a city, county or town from enacting rent control on private residential property unless the Legislature expressly approves it. No Utah locality currently holds that approval, so no local rent cap applies to Utah apartment buildings or lease renewals.
Which Utah counties have the tightest rental markets?
Among the five Utah counties profiled here, Utah County had the lowest rental vacancy at 2.7%, and Washington County the highest at 10.6%, with a $1,566 median rent. Salt Lake County, the state's largest county, posted 5.5% vacancy and a $1,592 median gross rent.
How do I sell commercial property in Utah?
Send us the address, unit count, and a rent roll if you have one. We review Utah apartment buildings of 5+ units against our buy box and give clear feedback, typically within 48 hours.
Do you buy apartment buildings everywhere in Utah?
Yes. We evaluate multifamily properties statewide, including Salt Lake City, Provo–Orem, Ogden, St. George, Draper, Eagle Mountain, Murray, Saratoga Springs, smaller cities, and suburban markets. Every property is reviewed on its own fundamentals.
What types of Utah multifamily properties do you buy?
Apartment buildings and income-producing residential properties with 5 or more units — stabilized, value-add, mismanaged, or distressed. Our sweet spot is 15–25 units, and we review larger communities with capital partners.
Can I sell rental property in Utah with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
What do I need to sell my apartment building in Utah?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
Do I need to make repairs before selling?
No. We underwrite properties as they are today, including deferred maintenance and vacancy.
From The Blog
Utah Market Insights
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