Hyde Park cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexHyde ParkUtahNational
Cost of living index107101100
IndexHyde ParkUtahNational
Goods & Services index10196100
Groceries index9596100
Health care index9189100
Housing index125113100
Transportation index106102100
Utilities index9490100
Here we can see a simple outline of the cost of living in Hyde Park, UT. As you can see, with the average cost of living in Hyde Park, UT being 107, that puts it 6% higher than the average of Utah and 7% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Hyde Park, UT, the price of goods and services are 5% higher than the average of Utah as well as 1% higher than the nation's average.

Did you know?

  • The cost of living in Hyde Park is 6% higher than the Utah average.
  • The cost of living in Hyde Park is 7% higher than the national average.
  • The cost of housing in Hyde Park is 25% higher than the national average.
  • Utah general sales tax is 17% higher than the national average.
  • Utah state income tax is 125% higher than the national average.

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Compare Hyde Park, UT Cost of living To Other Cities

Salary Calculator

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Health care index
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Use the salary calculator to compare your current income in Hyde Park, UT to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Hyde Park, UT, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Hyde Park, UT salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$77,188$6,432$1,801$2,316
Renters$61,063$5,089$1,425$1,832
If you want to find a good determining factor for the cost of living and the general affordability of housing in Hyde Park, UT, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Hyde Park, UT, the median monthly income is $77,188 for those who own their own homes. Under the standard rule, that income level would allow for $1,801 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $61,063, per the median income in the area. That would allow for renters to spend up to $1,425 on monthly rental expenses.

Utah Sales Tax

StateGeneral Sales TaxWith Max Surtax
Utah5.95%8.35%

Utah Income Tax

StateIncome Tax (Low)Income Tax (High)
Utah5%5%
When assessing the complete cost of living in Hyde Park, UT, the Utah income tax and the Utah sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Utah maximum surtax is 8.35%, and the Utah sales tax is 5.95%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 5% to 5% in Utah.

Goods & Services

ItemHyde ParkNational avg.Difference
Haircut $15.25$14.594.5%
Beauty Salon $38.75$34.6811.7%
Toothpaste $2.32$2.476.2%
Shampoo $0.94$1.028.0%
Movie $7.44$9.8724.6%
Bowling $3.99$4.399.1%

Groceries

ItemHyde ParkNational avg.Difference
Ground Beef $3.77$4.4815.8%
Fried Chicken $1.05$1.4628.3%
Milk $2.09$2.3611.3%
Potatoes $1.75$3.0642.8%
Pizza $8.99$9.242.7%
Beer $7.99$8.637.4%

Health Care

ItemHyde ParkNational avg.Difference
Optometrist $87.75$99.7812.1%
Doctor $94.00$105.0310.5%
Dentist $82.00$88.707.6%
Ibuprofen $8.24$9.4112.5%
Lipitor $279.10$298.506.5%

Housing

ItemHyde ParkNational avg.Difference
Home Price $215,500.00$175,700.0022.7%
Avg. Mortgage Payment $1,027.66$1,081.034.9%
Apartment Rent $1,214.00$920.0032.0%

Transportation

ItemHyde ParkNational avg.Difference
Gasoline $2.13$2.091.9%
Tire Balancing $53.81$45.2918.8%

Utilities

ItemHyde ParkNational avg.Difference
All Electricity$145.09$170.8015.1%
Phone $29.99$28.266.1%
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, StatePopulationCost of Living IndexNational Avg.
Cache, UT099-1%
Franklin, ID76089-11%
Cornish, UT34491-9%
Newton, UT81095-5%
Logan, UT48,93395-5%
Hyde Park, UT4,0851077%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Burlington, CO4,08486-14%
Fleetwood, PA4,0841099%
Sullivan City, TX4,08767-33%
Wayland, MI4,08286-14%
Weston, WV4,08888-12%
Hyde Park, UT4,0851077%
Source: The Hyde Park, UT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.