F
45%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
141%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Draper Utah National
Cost of living145104100
Goods & Services106102100
Groceries10099100
Health care9691100
Housing241114100
Transportation110105100
Utilities9495100

An Overview of Cost of Living in Draper, UT

Knowing the cost of living in Draper allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Draper stands at 145, marking it 45% higher than the national average.

The cost of living in Draper is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Draper falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a very significant part of the Draper cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 141.4% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Draper Affordable?

Is Draper affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Draper, for instance, where the median home price falls 180% higher than the national average, and monthly rent rates are 51.3% higher than usual. Additionally, median income levels contribute to the equation, with Draper flaunting a median household income of $112,541, 103.4% higher than the national norm.

What Factors can Influence the Cost of Living in Draper?

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Draper, the groceries index is 0.4% higher than the national average.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Where is the Data From?

The Draper cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Draper is 39% higher than the Utah average
  • The cost of living in Draper is 45% higher than the national average
  • Draper housing is 141% higher than the national average
  • Utah general sales tax is 20% higher than the national average
  • Utah state income tax is 115% higher than the national average

Most Affordable Places to Live in and Around Draper

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Compare Draper, UT Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$132,780$11,065$3,098$3,984
      Renters$65,747$5,479$1,534$1,973
      The affordability of the housing market in Draper, UT as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Draper homeowners, the median income is $132,780. This indicates that a monthly maximum of $3,098 should be spent by homeowners on all housing related costs. Renters have a median income of $65,747. This indicates that renters would have a maximum of $1,534 for their rent related monthly costs.

      Utah Sales Tax

      State General Sales Tax With Max Surtax
      Utah 6.1% 8.35%

      Utah Income Tax

      State Income Tax (Low) Income Tax (High)
      Utah 4.85% 4.85%

      Goods & Services

      Item Draper National avg. Difference
      Haircut $20.87$24.2614.0%
      Beauty Salon $50.33$45.5610.5%
      Toothpaste $3.57$3.703.6%
      Shampoo $1.18$1.288.1%
      Movie $9.94$12.1318.1%
      Bowling $19.80$18.0010.0%

      Groceries

      Item Draper National avg. Difference
      Ground Beef $5.76$5.841.3%
      Fried Chicken $1.51$1.574.2%
      Milk $4.65$4.670.4%
      Potatoes $4.60$4.936.7%
      Pizza $11.69$12.093.3%
      Beer $10.59$10.411.7%

      Health Care

      Item Draper National avg. Difference
      Optometrist $125.19$125.680.4%
      Doctor $117.14$135.7813.7%
      Dentist $85.13$113.2924.9%
      Ibuprofen $10.89$10.652.3%
      Lipitor $528.57$468.6012.8%

      Housing

      Item Draper National avg. Difference
      Home Price $517,100.00$184,700.00180.0%
      Avg. Mortgage Payment $3,117.82$2,346.6932.9%
      Apartment Rent $1,436.00$949.0051.3%

      Transportation

      Item Draper National avg. Difference
      Gasoline $3.75$3.468.3%
      Tire Balancing $57.07$59.924.8%

      Utilities

      Item Draper National avg. Difference
      All Electricity $198.43$193.992.3%
      Phone $192.11$192.250.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Copperton, UT8391076.6%
      Magna, UT27,0291098.8%
      South Salt Lake, UT25,1251109.6%
      Kearns, UT36,45711110.7%
      West Valley City, UT135,61011110.9%
      Draper, UT48,59414544.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      McLean, VA48,566225125.2%
      North Highlands, CA48,66011717.0%
      Tuckahoe, VA48,51712020.4%
      Antelope, CA48,46813333.4%
      East Lansing, MI48,437973.2%
      Draper, UT48,59414544.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.