Salt Lake City, UT
Salt Lake County · Pop. 204,657
Ranked #172 of 243 cities
32Crisis
Median Home Price
🏠$500K
2.5% YoY
Median Rent
🔑$1,500
2.0% YoY
Median Income
💰$62K
Rent Burden
📊31.5%
% of income to rent
Income to Buy
🏦$144K
annual income needed
Income to Rent
📝$60K
annual income needed
Price-to-Income
⚖️8.1x
Homeownership
🏡48.0%
Rent vs. Buy
Buy
$2,661/mo
Est. mortgage (7%, 20% down)
Need $144K/yr income
Rent
$1,500/mo
Median rent
Need $60K/yr income
How Salt Lake City Compares
| Metric | Salt Lake City | Utah | National |
|---|---|---|---|
| Home Price | $500K | $518K | $410K |
| Rent | $1,500 | $1,551 | $1,500 |
| Income | $62K | $93K | $75K |
| Rent Burden | 31.5% | 31.0% | 30.0% |
Key Takeaways
- • Home prices in Salt Lake City are 22% higher than the national average.
- • Rent is about average than the national average.
- • You need an income of $144K to comfortably buy a home here.
- • The homeownership rate is 48.0%, compared to 65.0% nationally.