Quick facts: Lehi, UT

Quick Facts

105.9
Cost of Living
above US average
84,373
Population
8.97
Crime Rate per 1000
below US average
$117,243
Median Income
above US average
$651,900
Median House Price
above US average
$1492.78
Average Rent
above US average
5%
Poverty Rate
below US average
4.0%
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 $117,243.

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Income Needed to Buy

βœ— Stretch
$205k/year
Based on $651,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $205k vs median $117,243
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Income Needed to Rent

βœ“ Affordable
$64k/year
Based on $1492.78/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($117,243) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lehi, UT

Lehi, Utah, is a vibrant city located in Utah County, nestled in the picturesque Utah Valley. With a rich history dating back to the early Mormon settlements in the 1850s, Lehi has grown into a dynamic community known for its rapid growth, driven by its proximity to the tech hubs of Silicon Slopes, which include companies like Adobe and Facebook. The city offers a balance of suburban comforts and access to outdoor recreational activities, situated near the breathtaking Wasatch Range. Popular attractions include Thanksgiving Point, a sprawling complex featuring gardens, museums, and a golf course. Lehi boasts a diverse population and a strong sense of community, fostered by various local events and festivals throughout the year. The city is served by the all-important I-15 corridor, providing easy access to nearby cities such as Provo and Salt Lake City. With a strong educational system, a thriving economy, and plenty of parks and recreational opportunities, Lehi is an attractive place to live for families and young professionals alike. The city's commitment to growth while preserving its community feel makes it a unique and desirable location in the heart of Utah.

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