The Other "Missing Middle"
I have thought for a long time that while sheer affordability is important, what is equally interesting (in my opinion) is the gaping hole being create in rents between $800 to $1,200 in the Salt Lake Market. According to the survey census data made available through American Fact Finder, 33% of households in Salt Lake County make between $35,000 and $75,000, so if everyone is fixing to the "pay no more than 30% of your income" rule, we would expect a third of the available units would be in the $500 to $1,500 range... however I because of economic forces in development (a fancy way of saying development costs and investor return benchmarks), I feel like this is not the case, especially in strategically important markets like downtown. Any thoughts? What can we do about this?