Quick facts: Salt lake city, UT

Quick Facts

115.4
Cost of Living
above US average
204,657
Population
72.82
Crime Rate per 1000
above US average
$72,357
Median Income
below US average
$610,000
Median House Price
above US average
$1794
Average Rent
above US average
13%
Poverty Rate
above US average
3.5%
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 $72,357.

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Income Needed to Buy

βœ— Stretch
$191k/year
Based on $610,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $191k vs median $72,357
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Income Needed to Rent

⚠ Stretch
$77k/year
Based on $1794/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $77k vs median $72,357
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Salt lake city, UT

Salt Lake City, the capital of Utah, is known for its stunning mountain views, vibrant culture, and rich history. Nestled between the Wasatch Range and the Great Salt Lake, this city is a hub for outdoor enthusiasts with activities such as hiking, skiing, and mountain biking available just minutes from downtown. As the headquarters of the Church of Jesus Christ of Latter-day Saints, the city features the famous Salt Lake Temple and Temple Square, a popular tourist destination that reflects its strong religious heritage. The Downtown area boasts an eclectic mix of dining, shopping, and nightlife, with local restaurants showcasing the region's unique flavors. Salt Lake City is also home to numerous cultural institutions such as the Utah Museum of Fine Arts, Natural History Museum of Utah, and the Utah Symphony. The city hosts various festivals throughout the year, celebrating everything from film and art to music. With a rapidly growing economy, Salt Lake City offers diverse job opportunities, especially in tech and healthcare industries, making it an appealing location for both families and professionals. The city’s blend of urban amenities and natural beauty creates a unique and inviting atmosphere.

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