Lehi City News
Lehi rental rates continue to rise, average 3 bedroom cost surpasses $2,500
Lehi home prices and rental rates have been on the rise for years as Lehi becomes a hot spot not only in Utah but nationwide. In a recent Opendoor Real Estate list of “Top 20 Hottest Neighborhoods in the U.S” Lehi came in at #14.
Lehi has grown into it’s nickname of “Silicon Slopes” with major tech companies making it home like Adobe, Microsoft, Ancestry and Texas Instruments.
With increased demand comes increased prices and renters are feeling the pinch.
According to a report by rent.com Lehi renters have seen significant rental rate increases over the last year.
The average rent for a 1 bedroom unit is currently sitting at $1,387 (11% more than last year).
The average rent for a 2 bedroom unit comes in at $1,695 (9% more than last year).
While 1 and 2 bedroom units have seen increases, larger 3 bedroom spaces have increased a whopping 27%, bringing the current average monthly rent to $2,599.
Lehi ranks as the most expensive city for rentals in Utah County.
Opendoor’s Top 20 Hottest Neighborhoods in the U.S. in 2022:
Clarksville, TN – 37042
Celebration, FL – 34747
Yukon, OK – 73099
New Braunfels, TX – 78130
Loganville, GA – 30052
Leander, TX – 78641
Katy, TX – 77494
Forney, TX – 75126
Katy, TX – 77493
Cypress, TX – 77433
San Antonio, TX – 78253
Kissimmee, FL – 34746
Lehi, UT – 84043
San Diego, CA – 92101
Aubrey, TX – 76227
San Antonio, TX – 78245
Maricopa, AZ – 85138
San Antonio, TX – 78254
Winter Garden, FL – 34787
Bonita Springs, FL – 34135
