AUGUST 2022
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murray.utah.gov
Mayor’s Message
MAYOR’S OFFICE
How Much Land in Murray is Taken Up by Apartments?
mayor@murray.utah.gov 801-264-2600 5025 S. State Street Murray, Utah 84107
Hint: Not as much as you might think… “Affordable housing” is an oxymoron in these times. That is particularly true if you are a first-time homebuyer or if you’re looking for someplace to rent. It’s very true if you’re looking in Murray. You might lament apartment projects. You might be saying there are too many apartment buildings/projects in Murray, but here are the startling facts. • There are 5,828 apartment units in Murray. There are 21,569 total housing units in the city. • Apartments occupy a total of 214 acres of the 7,885 acres of land in Murray, or about 2.7% of the total acres of land. • Apartment vacancy rates in Murray are around 2.0% meaning it’s not easy to find a vacant place, whether you can afford the rent or not. • The rental costs for market-rate apartments will typically range from $1,100 or more per month for one-bedroom units and can reach upwards of $2,200 for some two and three-bedroom units. Meanwhile, purchasing a home remains tough and pricey. Though the market has calmed a little due to increasing interest rates, home prices aren’t coming down to a level that makes them accessible for firsttime home buyers. Murray is still a very desirable place to live. There is a great demand for housing, for rent or ownership. In addition to new single-family lots that have been developed recently, many rental units have been planned and are being built right now, including three projects that are under construction now or will be shortly:
Brett A. Hales -Mayor
Murray Square, on 9th East where Kmart once stood, will have a total of 421 units when all phases are complete. Construction is well underway on two of the three residential buildings. Those apartments include one, two and three bedrooms and will start leasing soon.
Construction just began on The Current, formerly Bonnyview Elementary School, located on Commerce Drive and 4994 South. The project will have 305 units ranging in size from one-to-two bedrooms. This project should be complete and leasing by 2024.
The Vine, under construction right now on Vine Street near 200 East will have 130 units. The project is about 20% finished. It will include one-to-two-bedroom units. Below is the current construction picture and the artist rendition of the finished product.
All three of these projects are providing rental apartments, each as part of a mixed-use project, meaning that along with the apartments being built, each project includes some new commercial and retail space as well.