| Index | Payson | Utah | National |
| Cost of living | 111 | 105 | 100 |
| Groceries | 101 | 101 | 100 |
| Health care | 99 | 101 | 100 |
| Housing | 133 | 113 | 100 |
| Transportation | 103 | 101 | 100 |
| Utilities | 101 | 101 | 100 |
| Lifestyle & Entertainment | 103 | 102 | 100 |
| Household Items | 102 | 102 | 100 |
| Education & Childcare | 104 | 105 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Payson? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Payson stands at 111, making it 11% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
When it comes to the cost of living in Payson, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 32.6% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Payson affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Payson, the median home price is 39.7% higher than the national average and monthly rent prices are 16.2% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Payson boasting a median household income of $101,475, 24.8% higher than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Payson, the standard sales tax rate starts at 6.1%, and the income tax rates commence at 4.85%.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Payson, the utilities index stands at 0.6% higher than the national average.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Payson, the housing index is 32.6% higher than the national average.
The Payson cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $111,749 | $9,312 | $2,607 | $3,353 |
| Renters | $63,818 | $5,318 | $1,489 | $1,915 |
| State | General Sales Tax | With Max Surtax |
| Utah | 6.1% | 8.35% |
| State | Income Tax (Low) | Income Tax (High) |
| Utah | 4.85% | 4.85% |
| City | Population | Cost of Living Index | National Avg. |
| Goshen, UT | 963 | 105 | 5.2% |
| Rocky Ridge, UT | 1,095 | 106 | 6.0% |
| Provo, UT | 119,883 | 114 | 13.5% |
| Santaquin, UT | 12,586 | 114 | 13.7% |
| Springville, UT | 34,438 | 114 | 14.2% |
| Payson, UT | 20,937 | 111 | 11.0% |
| City | Population | Cost of Living Index | National Avg. |
| Wade Hampton, SC | 20,936 | 105 | 5.0% |
| Albany, CA | 20,944 | 207 | 106.5% |
| Plainview, TX | 20,929 | 85 | 14.9% |
| Pleasantville, NJ | 20,927 | 104 | 3.5% |
| Cherry Hill, VA | 20,952 | 128 | 28.5% |
| Payson, UT | 20,937 | 111 | 11.0% |
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