Property manager Derek Morton calls his local housing market in Cedar City, Utah, “Insanity.” He owns Netgain Property Management, and said his vacant units were filled months ago, within the same week as graduation. In a typical year, he said, this would have taken all summer.
Southern University of Utah students are missing out on about 250 properties that were formerly dedicated to student housing, but were sold to private owners this year.
The problem isn’t isolated to Cedar City. At the University of Utah, 460 students are on a waiting list for housing. Utah State University has a wait-list of about 100. And at Utah Valley University, the price of rent has skyrocketed.
Scroll down for more from UB