Property values vs. rents

[Leo R.]

Hi all, I have a couple questions about property values vs. rent prices in and around Salt Lake City:

As we all know, property values in the area have gone way up over the past 5 or so years (particularly for single family homes in Salt Lake City).

However, rent for typical single family homes in and around SLC seems fairly steady (I moved to SLC in 2015, and I haven't noticed much change in rent since then).  

So, I'm wondering if folks have any thoughts about why rents have not increased much in the last 5 or so years (given the large increases in property values)? 

Also, what do you think will happen with rent prices over the next few years--is there any evidence that rent is likely to increase significantly? (or any evidence that rent is likely to remain steady?)

Thanks in advance for your thoughts!