Cost Of Living in Summit Park, UT

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F

74%

Overall NAT. AVG.

6%

Goods & Services NAT. AVG.

240%

Housing NAT. AVG.

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	Summit Park	Utah	National
Cost of living	174	104	100
Goods & Services	106	102	100
Groceries	100	99	100
Health care	96	91	100
Housing	340	114	100
Transportation	110	105	100
Utilities	94	95	100

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Cost Of Living Quick Facts

The cost of living in Summit Park is 67% higher than the Utah average
The cost of living in Summit Park is 74% higher than the national average
Summit Park housing is 240% higher than the national average
Utah general sales tax is 20% higher than the national average
Utah state income tax is 87% higher than the national average

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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	$152,479	$12,707	$3,558	$4,575
Renters	$58,621	$4,885	$1,368	$1,759

A good way to judge both the affordability of the housing and the cost of living in Summit Park is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Summit Park has a median income of about $152,479 for people who own homes. Based on that number, a maximum of $3,558 should be spent on expenses related to housing. Renters have a slightly different median income, which is $58,621. Based on this average, renters should spend no more than $1,368 on all rental costs if they want to maintain a non-impoverished standard of living.

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	Summit Park	National avg.	Difference
Haircut	$20.87	$24.26	14.0%
Beauty Salon	$50.33	$45.56	10.5%
Toothpaste	$3.57	$3.70	3.6%
Shampoo	$1.18	$1.28	8.1%
Movie	$9.94	$12.13	18.1%
Bowling	$19.80	$18.00	10.0%

Groceries

Item	Summit Park	National avg.	Difference
Ground Beef	$5.76	$5.84	1.3%
Fried Chicken	$1.51	$1.57	4.2%
Milk	$4.65	$4.67	0.4%
Potatoes	$4.60	$4.93	6.7%
Pizza	$11.69	$12.09	3.3%
Beer	$10.59	$10.41	1.7%

Health Care

Item	Summit Park	National avg.	Difference
Optometrist	$125.19	$125.68	0.4%
Doctor	$117.14	$135.78	13.7%
Dentist	$85.13	$113.29	24.9%
Ibuprofen	$10.89	$10.65	2.3%
Lipitor	$528.57	$468.60	12.8%

Housing

Item	Summit Park	National avg.	Difference
Home Price	$766,300.00	$184,700.00	314.9%
Avg. Mortgage Payment	$3,117.82	$2,346.69	32.9%
Apartment Rent	$1,576.00	$949.00	66.1%

Transportation

Item	Summit Park	National avg.	Difference
Gasoline	$3.75	$3.46	8.3%
Tire Balancing	$57.07	$59.92	4.8%

Utilities

Item	Summit Park	National avg.	Difference
All Electricity	$198.43	$193.99	2.3%
Phone	$192.11	$192.25	0.1%

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.
Coalville, UT	2,066	114	13.9%
White City, UT	5,792	116	16.1%
Peoa, UT	183	121	21.4%
Bountiful, UT	43,991	122	22.2%
Hoytsville, UT	524	126	26.3%
Summit Park, UT	8,177	174	74.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Black Mountain, NC	8,177	108	8.3%
Gering, NE	8,179	93	7.2%
Kenilworth, NJ	8,182	131	30.6%
Arcadia, FL	8,187	90	9.9%
Meraux, LA	8,187	96	4.5%
Summit Park, UT	8,177	174	74.3%