What is the cost of living in Utah?
The cost of living in Utah is 5.5% lower than the US average. According to MIT, the required living wage for a family of four with two working parents in Utah is $84,823 vs the national average for a family of four with two working parents of $89,744. The median income of a Utah household is $74,197.
The average home price in Utah is $305,400, which is higher than the US average home price of $229,800. Median rent in Utah is $1,090/mo which is lower than the US average rent of $1,096/mo. If you want to adjust homes prices to local incomes, the ratio of home prices to median household income is about 4.1 to 1. That means it takes roughly 4.1 years of a full salary to pay off a house. That compares to the national average of 3.5 to 1.
All in all, Utah has a low cost of living compared to America as a whole.
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People Also Ask About Utah
Is Utah a dangerous state?
No, Utah is not a dangerous state as it ranks as the #28 safest state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Utah ranks 39th most dangerous in the United States -- 29.51% better than US average violent crime rate. The property crime rate in the Beehive State ranks 11th most dangerous in the United States -- 26.1% worse than US average property crime rate. The latest reporting year from the FBI was 2022.
Is Salt Lake City, UT a dangerous city?
Yes, Salt Lake City is a dangerous city. Salt Lake City ranks as the #7 most dangerous out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Salt Lake City might be considered dangerous you still need to be aware of where you are. For example, Greater Avenues is the safest in Salt Lake City, while Poplar Grove is considered dangerous by many based on recent crime stats.
Compared to other big cities, the violent crime rate in Salt Lake City ranks 4highest in America -- 76.74% worse than US average violent crime rate. The property crime rate in the ranks sixth highest in the United States -- 135.38% worse than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
What county in Utah has the lowest cost of living?
The county in Utah with the lowest cost of living is Piute County. The average living wage in Piute County is $74,325 according to MIT data. Piute County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Utah as a whole. Childcare costs $9,149 a year in Piute County for two children compared to the Utah average of $14,686. Housing costs, defined as a blend of the average rent and average mortgage payment, are $8,808 per year in Piute County compared to $12,484 on average in Utah.
What is the cheapest housing market in Utah?
The cheapest housing market in Utah is Price. The average home value in Price is $144,300, the lowest in the state. The average home value in Utah is $305,400, almost 2.1 times higher than Price.
