What is the average Class A rent in Salt Lake City?

Around 32 USD/sqft/yr ($32 USD) across the broader Class A index. Trophy submarkets like Downtown SLC command 20–40% above that.

How many months of rent-free are normal in Salt Lake City?

10 months on a 7-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Salt Lake City?

The Salt Lake City Class A market is currently flat. Vacancy is 17.4%, which sets the negotiating context.

Headline Class A rent in Salt Lake City is around 32 USD/sqft/yr ($32 USD), with 10 months of typical rent-free on a 7-year term.

Headline Class A rent: 32 USD/sqft/yr ($32 USD).
Trophy submarket rents (Downtown SLC) push to roughly $42/sqft/yr.
Typical concessions on a 7-year deal: 10 months free rent.
Vacancy stands at 17.4% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Salt Lake City Class A office rents and incentives

Headline Class A rent in Salt Lake City is around 32 USD/sqft/yr ($32 USD), with 10 months of typical rent-free on a 7-year term.

TL;DR

Headline Class A rent: 32 USD/sqft/yr ($32 USD).
Trophy submarket rents (Downtown SLC) push to roughly $42/sqft/yr.
Typical concessions on a 7-year deal: 10 months free rent.
Vacancy stands at 17.4% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Salt Lake City are quoted in USD per sqft per year. Across the broad Class A index the figure is 32, but the trophy tier in Downtown SLC reaches roughly $42/sqft/yr. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Salt Lake City concessions on a 7-year Class A lease run to 10 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — 21% federal plus Utah's 4.55% corporate income tax. Combined effective rate around 26%. Salt Lake County property tax applies.

Where rents land by submarket

Downtown SLC sits at the top end (~$42/sqft/yr). Silicon Slopes (Provo) clears around $36/sqft/yr as the prime tier. Airport / International Center represents the value end at ~$26/sqft/yr. The full submarket map is on the Salt Lake City city page.

Key facts

city	Salt Lake City
country	United States
region	Americas
classARentLocal	32 USD/sqft/yr
classARentUsd	$32/sqft/yr
vacancy	17.4%
typicalLeaseYears	7
typicalRentFreeMonths	10
submarkets	5
primeYieldPct	7%
trophyRent	$42/sqft/yr
primeRent	$36/sqft/yr

Frequently asked questions

What is the average Class A rent in Salt Lake City?: Around 32 USD/sqft/yr ($32 USD) across the broader Class A index. Trophy submarkets like Downtown SLC command 20–40% above that.
How many months of rent-free are normal in Salt Lake City?: 10 months on a 7-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Salt Lake City?: The Salt Lake City Class A market is currently flat. Vacancy is 17.4%, which sets the negotiating context.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction