Solo renting is on the rise in America, where 16.7 million renters are currently living alone, Rental website RentCafe reports. The report highlights the metros where this renter segment is thriving and uncovers the easiest and toughest places for people looking to rent on their own.
Salt Lake City leads the nation with the largest increase in solo renters in recent years, experiencing a remarkable 25 percent surge, RentCafe said. The SLC metro outpaces other tech hubs like Austin, Texas (24 percent) and Denver, Colorado, (13 percent).
Higlights from the report for Salt Lake City include:
- Currently, 50,265 people are renting a place individually in Salt Lake City, up from 40,234 in 2016. These solo renters now make up 15 percent of the metro’s total renter population, even though this type of living arrangement comes at an extra cost.
- In Salt Lake City, this means an extra income of $767 per month compared to a regular apartment-dweller. This amount is lower than in other western metros such as Phoenix ($948) or Denver ($830), where lone renting comes with greater financial sacrifices.
- In Ogden, renters must budget an additional $903 to enjoy a place all by themselves, while in Provo this premium reaches $916.