| Index | Salt Lake City | Utah | National |
| Cost of living | 123 | 105 | 100 |
| Groceries | 103 | 101 | 100 |
| Health care | 103 | 101 | 100 |
| Housing | 164 | 113 | 100 |
| Transportation | 105 | 101 | 100 |
| Utilities | 106 | 101 | 100 |
| Lifestyle & Entertainment | 111 | 102 | 100 |
| Household Items | 101 | 102 | 100 |
| Education & Childcare | 115 | 105 | 100 |
Understanding the cost of living in Salt Lake City can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Salt Lake City cost of living index is 123, which is 23% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
If you prioritize affordability when seeking a new place to live, Salt Lake City may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Salt Lake City falls into this category, which may not align with your preferences for a budget-friendly living environment.
When it comes to the cost of living in Salt Lake City, 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 63.6% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
When it comes to knowing a city, its residents are the experts. We conducted a survey with 20 locals to understand their opinions on the cost of living in Salt Lake City. The results indicated that 40% found it reasonably priced with decreasing prices of goods and services, while 60% viewed it as quite expensive, with increasing prices.
Is Salt Lake City 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 Salt Lake City, for instance, where the median home price falls 86.4% higher than the national average, and monthly rent rates are 10.3% higher than usual. Additionally, median income levels contribute to the equation, with Salt Lake City flaunting a median household income of $94,676, 16.4% higher than the national norm.
Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Salt Lake City, the groceries index is 2.9% higher than the national average.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Salt Lake City, healthcare costs are 3.4% higher than the national average.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
The Salt Lake City cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional 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 | $138,152 | $11,513 | $3,223 | $4,145 |
| Renters | $64,747 | $5,396 | $1,511 | $1,943 |
| 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. |
| Copperton, UT | 856 | 106 | 6.0% |
| Magna, UT | 27,938 | 109 | 9.4% |
| Kearns, UT | 37,458 | 109 | 9.5% |
| West Valley City, UT | 140,970 | 110 | 10.3% |
| South Salt Lake, UT | 25,758 | 110 | 10.4% |
| Salt Lake City, UT | 207,784 | 123 | 23.0% |
| City | Population | Cost of Living Index | National Avg. |
| Huntsville, AL | 207,126 | 97 | 3.5% |
| Aurora, IL | 206,020 | 105 | 5.0% |
| Sunrise Manor, NV | 205,701 | 104 | 3.7% |
| Amarillo, TX | 205,514 | 93 | 6.6% |
| Yonkers, NY | 204,945 | 142 | 41.6% |
| Salt Lake City, UT | 207,784 | 123 | 23.0% |
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