Living in Utah is relatively affordable. In Salt Lake City, Utah, rent averages $1,123 for a 1 bedroom apartment. Transportation costs in Utah amount to $4,900 a year. Food costs $3,792 a year on average for a single resident of Utah.
How much does it cost for a single person to live in Utah?
Average Cost of Living in Utah: $37,369 per year
If Utah is out of your price range, you can consider making a move to Wyoming, which is in the same region but ranks 18th for states with the lowest cost of living. Looked at as average monthly expenses, that’s $3,114.
How much do you need to make to live on your own in Utah?
between $43,000 and $66,000 per year
How much money do you need to live comfortably in Utah? According to one estimate, you’ll need somewhere between $43,000 and $66,000 per year. This criteria is based on the needs for housing, food, transportation, health care and taxes. Here’s all that in context for those living in Utah.
How much does it cost to live in Utah?
Utah cost of living is 110.8
| COST OF LIVING | Utah | United States |
|---|---|---|
| Housing | 146.3 | 100 |
| Median Home Cost | $458,900 | $291,700 |
| Utilities | 94.6 | 100 |
| Transportation | 91.2 | 100 |
How cheap is it to live in Utah?
Utah’s cost of living index is just over 100, while California’s is the third highest in the country at 149.9. In the beehive state’s most popular cities, the most rent you’ll pay for a 2 bedroom unit is $1,700 while the average cost of renting two bedrooms is almost $2,500 in California.
Is rent in Utah expensive?
Large U.S. metros where rents have spiked the most
Salt Lake City, Utah — Rent jumped 24.6%, up $291 from a median rent price of $1,184 in 2019 to $1,475 in 2022.
How much do you need to make a month to live in Utah?
Here’s all that in context for those living in Utah. A family of four living in Salt Lake County would need more than $81,000 per year, which breaks down to nearly $6,800 per month. In Utah County, that number drops to $76,553 annually, or $6,379 per month.
How much an hour do you need to make to live in Utah?
The NLIHC report found a person living in Utah would need to make $20.21 to afford a modest two-bedroom rental while working a 40-hour workweek.
How much money do I need to live in Salt Lake City?
How much do I need to earn to live in Salt Lake City. Financial experts recommend that you keep your rent at less than 30% percent of your gross income. To afford the average rent of a one-bedroom apartment in SLC at $1,164, you would need to make $3,880 per month or $46,560 per year.
Can I afford to live in Utah?
In the Salt Lake City area, workers would need to earn a minimum of $23.15 an hour to afford a market-rate, two-bedroom unit and avoid paying more than 30% of their income on housing, or $25.40 in Summit County. That’s even though the average renter in Utah earns only $15.66 an hour, according to the report.
What is the cheapest place to live in Utah?
Salt Lake City
Although the capital city is by far Utah’s largest, and despite its many urban amenities, Salt Lake City is ranked first in affordability.
Whats the average pay in Utah?
Hourly Rate Salary in Utah
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $74,955 | $36 |
| 75th Percentile | $46,056 | $22 |
| Average | $43,845 | $21 |
| 25th Percentile | $26,640 | $13 |
Can you live in Utah and not be Mormon?
Not everyone in Salt Lake City is Mormon.
But Salt Lake proper’s population is actually less than 50% LDS. People of all religious and non-religious groups call Salt Lake home.
Is housing affordable in Utah?
When it comes to the cost of living, Utah is generally more expensive in the housing department. But the state’s strong, reliable real estate market has doubled the home appreciation rate recently. With a vibrant job market, housing is affordable in many areas of Utah. The living wage in Utah is almost $68,000.
Which state has lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
Is Utah cheaper than California?
Utah vs California
Overall, the cost of living in California is 32.3% more than Utah. Almost everything will cost more in the Pacific State, which means saving money is always going to be difficult, even though the state’s average income is higher.
How much money does a single person need to live comfortably?
This means a single person needs to make at least $66,434 after taxes to live comfortably. After their basic living expenses are covered, an individual could spend $19,930 on wants and set $13,287 aside for savings or debt paydown.
How much do you need to make to afford an apartment in Utah?
According to the Out of Reach 2021 report from the National Low Income Housing Coalition, you need to make $20.21 an hour to afford to rent a two-bedroom apartment or home in Utah.
Why is pay so low in Utah?
COVID-19 sparked Utah labor shortage, low wages can’t bring workers back. Employment rates in the U.S have not recovered since the pandemic disrupted the economy and many Americans are still earning the national minimum wage of $7.25. (Graphic by Margaret Darby.)
How much rent can I afford in Salt Lake City?
To comfortably afford a one-bedroom apartment in Salt Lake City at $1,244 per month, you would need to make $49,760 before taxes. Or, for a monthly perspective, you would need to make $4,147. You can also figure out how much you can afford to pay in rent by using our rent calculator.
Is it cheaper to live in Utah or Colorado?
The cost of living in Denver, CO is 12.5% higher than in Salt Lake City, UT.