Quick facts: Elmo, UT

Quick Facts

105.9
Cost of Living
above US average
415
Population
4.82
Crime Rate per 1000
below US average
$62,917
Median Income
below US average
$299,973
Median House Price
above US average
$683.33
Average Rent
below US average
Poverty rate Data is updating, will be available soon
2.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $62,917.

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Income Needed to Buy

βœ— Stretch
$94k/year
Based on $299,973 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $94k vs median $62,917
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Income Needed to Rent

βœ“ Affordable
$29k/year
Based on $683.33/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($62,917) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Elmo, UT

Elmo is a small town located in Utah County, Utah. Nestled in the scenic landscapes of the central Utah region, it is surrounded by the stunning beauty of the Wasatch Range. Elmo is characterized by its rural charm and tight-knit community, offering a peaceful and quiet lifestyle away from the hustle and bustle of larger cities. The town has a rich history, originally established as a farming and ranching community, and maintains a strong connection to its agricultural roots. Its proximity to larger towns such as Nephi and the historic city of Provo makes it a convenient spot for those looking to enjoy a quieter environment while still having access to modern amenities. Outdoor enthusiasts will appreciate the nearby recreational opportunities, including hiking, fishing, and camping in the natural surroundings. Overall, Elmo embodies the essence of small-town Utah, providing a tranquil atmosphere with picturesque views and a welcoming community spirit.

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