Ogden anchors the northern portion of Utah's Wasatch Front and is home to Hill Air Force Base, the largest single employer in Utah with over 22,000 military and civilian employees. The base serves as the Air Force's primary depot maintenance and logistics hub for fighter aircraft, making its federal presence essentially permanent. Ogden is benefiting from Salt Lake City's explosive growth as population and employers spread north along the Wasatch Front. The metro's outdoor recreation access to Snowbasin, Powder Mountain, and Nordic Valley ski resorts is emerging as a talent retention advantage for technology and outdoor industry employers.
Ogden Market Overview: Key Metrics
The Ogden commercial real estate market in 2026 reflects a market shaped by Hill Air Force Base, IRS Ogden Service Center, Weber State University, Autoliv, Lifetime Products, Northrop Grumman, ATK (Northrop), Amazon. Here are the key metrics investors and borrowers should know:
- Multifamily Vacancy: 4.5% — well below the national average, signaling tight supply conditions
- Industrial Vacancy: 4.8% — among the tightest markets nationally
- Office Vacancy: 13.2%
- Retail Vacancy: 6.2%
- Rent Growth: 6.8% year-over-year
- Job Growth: 2.5% — outpacing the national average
- Population Growth: 2.0% annually
- Median Asking Rent: $1,680
Multifamily Outlook in Ogden
Ogden multifamily is driven by Hill Air Force Base civilian and military housing demand in Roy, Layton, and Clearfield, Weber State University student housing, and Salt Lake City overflow demand from households priced out of the Salt Lake market. The I-15 corridor north of Salt Lake City is experiencing rapid population growth as remote workers and corporate relocations discover Ogden's affordability and outdoor access. Layton and Clearfield command the highest rents from Hill AFB professionals while downtown Ogden is seeing a revitalization-driven demand wave.
Industrial & Logistics Market
Ogden industrial benefits from Hill Air Force Base's enormous supply chain and defense contractor industrial ecosystem, the Union Pacific Railroad main line that runs through Ogden, and growing e-commerce distribution serving the northern Utah and southern Idaho market. Autoliv's airbag manufacturing and Northrop Grumman's solid rocket motor operations anchor advanced manufacturing industrial demand. The Clearfield and Roy industrial corridors serve defense contractor and general logistics tenants.
Office & Retail Dynamics
Hill Air Force Base contractor offices and Weber State University administrative functions anchor office demand. Northrop Grumman and Autoliv corporate offices drive suburban Class B demand in Clearfield. Historic 25th Street in downtown Ogden is the premier retail and dining destination with growing boutique and restaurant performance. The Newgate Mall trade area serves the broader Weber County retail market.
Financing Landscape in Ogden
Ogden lenders include Bank of Utah, Zions Bank, and Utah community banks with deep Wasatch Front market knowledge. Defense contractor lending relationships occasionally intersect with commercial real estate. Agency multifamily financing is competitive given the strong Utah market fundamentals. National industrial lenders are increasingly active as Ogden's industrial profile grows.
For borrowers in the Ogden-Clearfield area, current commercial mortgage rates range from 5.25% for agency multifamily to higher rates for transitional and value-add projects. Key factors that influence your rate include property type, leverage, sponsor experience, and asset location within the metro.
Top Submarkets to Watch
The Ogden metro features several distinct submarkets that present unique investment opportunities:
- Downtown Ogden
- East Bench
- Historic 25th Street
- Marriott-Slaterville
- Roy
- Clearfield
- Layton
- Kaysville
- Farmington
- Bountiful
- Centerville
- North Ogden
- Pleasant View
- South Ogden
- Riverdale
Each of these submarkets has distinct characteristics in terms of tenant demand, development activity, and pricing. The top investment corridors in Ogden include Downtown Ogden, South Ogden, Roy, Layton, Clearfield, West Haven, North Ogden, Pleasant View.
Investment Outlook: Ogden 2026
Ogden's long-term outlook is exceptional. Hill Air Force Base's role in F-35 and next-generation fighter maintenance ensures decades of federal employment. Salt Lake City's growth will continue driving Ogden's population expansion northward along I-15. Outdoor recreation tourism at Snowbasin, Powder Mountain, and Nordic Valley will sustain hospitality investment. The outdoor industry employer cluster anchored by brands choosing Ogden for talent access will diversify the employment base.
CLS CRE in Ogden
CLS CRE provides commercial mortgage brokerage services throughout the Ogden-Clearfield metropolitan area, with access to 1,000+ lenders including banks, life insurance companies, CMBS conduits, agency lenders, debt funds, and credit unions. Whether you're acquiring, refinancing, or developing commercial property in Ogden, our market expertise and lender relationships help you secure the most competitive terms available.
Explore our financing programs for Ogden:
- Bridge Loans in Ogden
- Permanent Loans in Ogden
- Construction Loans in Ogden
- Multifamily Financing in Ogden
- Industrial Financing in Ogden
- Retail Financing in Ogden
Trevor Damyan is a commercial mortgage broker at Commercial Lending Solutions with a background in structured finance at CBRE and Marcus and Millichap Capital Corporation. He specializes in bridge loans, construction financing, SBA programs, DSCR loans, and complex capital structures for investors and developers across all 50 states.
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