Those who live in Salt Lake City are becoming increasingly aware of the impending housing crises, exemplified the steep increase in rental fees and home prices over the past 10 years. The availability of affordable housing units continues to decrease as the city’s population grows at an astounding speed. From 2010-2014, Salt Lake City gained 4,400 new residents, doubling the rate of growth seen from 2000-2010. The population growth is attributed to the strength of Utah’s economy, which is bolstered by the state’s growing tech industry. The heightened price of housing surely affects all Salt Lake City renters and potential homebuyers, however the impact on households with lower incomes is much greater.
Salt Lake City households that make 80-percent (~$56,000) or less of the average median income (AMI) face a huge monthly housing affordability gap. For example, affordable rent for someone making 80-percent of the AMI is $900 per month, however, the average one-bedroom rental in Salt Lake City is $1370 per month. That is a gap of $470 per month, indicating that Salt Lake City will be considered unlivable for thousands of households in the near future. It is important to note that forty-one percent of Salt Lake City residents make $35,000 or less per year.
The lack of affordable housing in Salt Lake City is problematic on multiple levels. As a result of rising housing costs, thousands of households have been forced to leave the city. Today, 84% of people employed in Salt Lake City commute on a daily basis; 52% of which would consider moving to the city if housing was less expensive. This above-average number of “in-commuters” has a large impact on the air quality, which continues to deteriorate year-by-year. Air quality is just one example of the issues related to affordable housing; others include education, gerrymandering, segregation, and environmental racism.
Salt Lake City Mayor Jacki Biskupski has unrolled “Growing SLC: A Five-Year Plan 2018-2019,” which seeks to enact a number of policy proposals in order to address the affordable housing issue. Some of these policies include new zoning laws, increasing “Accessory Dwelling Units,” and various incentives to private developers that choose to build affordable housing units. Biskupski’s plan is a big step forward for the city, however it is imperative that her successor continues her work on this topic. As the mayoral elections draw closer, Salt Lake City residents should consider each candidates’ plans regarding housing.