July 2025
Market Minute
Construction Pipeline
As demand for rental housing continues to grow, keeping an eye on the multifamily construction pipeline is more important than ever. The following data highlights key statistics on new developments underway across the region, offering insights into future supply, market saturation, and investment opportunities. Understanding what’s in the pipeline helps owners and operators anticipate shifts in occupancy, pricing, and competition.
Across Utah, thousands of new units are currently under construction, with many expected to deliver in the next 12 to 24 months. From large-scale urban developments to suburban garden-style communities, the mix of projects reflects evolving renter preferences and long-term demographic trends. By tracking these numbers, we can better assess where the market is heading and how to stay competitive in a changing landscape.
Logan Multifamily Market: 3 Projects, 881 Units
Ogden Multifamily Market: 10 Projects, 1,786 Units
Salt Lake Multifamily Market: 24 Projects, 4,552 Units
Provo Multifamily Market: 5 Projects, 1,622 Units
St. George Multifamily Market: 3 Projects, 384 Units
*Data based on properties labeled as “Under Construction” on Costar
‘Nxt Level’
Yardi Smarties
Recently, we welcomed representatives from Yardi to our corporate office for a collaborative visit focused on innovation and system optimization. The meeting highlighted our shared commitment to leveraging technology to enhance property operations, improve resident experiences, and streamline workflows.
It was a valuable opportunity to discuss upcoming platform enhancements, provide feedback, and strengthen our partnership with one of the industry’s leading property management software providers.
To ensure we make data-driven decisions, Yardi works in tandem with our Business Intelligence Tool. We always strive to be on the cutting edge of technology and to equip our team members and clients with the best tools in the industry.
Value of the Month
July’s Value of the Month is: Express Gratitude. We are kind to everyone and recognize their contributions. Gratitude keeps us humble and helps us achieve our full potential.
Ask the Editor
Question from Reader: How soon should a property management company get involved for a new project?
Answer: Ideally, a property management company should be brought in 6 to 12 months before lease-up begins. Early involvement allows the management team to contribute valuable input on unit mix, amenity programming, marketing strategy, rent pricing, and staffing plans—all of which directly impact the speed and success of the lease-up. A well-prepared management team ensures a smoother launch, faster absorption, and stronger long-term performance.
However, if you are further along in the process that’s okay! At a minimum, we would like to become involved 60-90 days before C/O on the first units. This allows us to begin marketing tasks (creating a website, ordering signage, etc.), and operations tasks (setting up the property in Yardi, assigning staff to the property, etc.)
As always, feel free to send any questions about the apartment world to sales@nxtmgt.com and we would love to feature and answer the question in next month’s newsletter.
Until next time,
