What is the average cost of living in Utah? This question is often asked by those considering a move to the Beehive State, as well as those who are already residents looking to plan their finances. Utah, known for its stunning landscapes, diverse economy, and high quality of life, offers a cost of living that can vary significantly depending on the city, lifestyle, and personal circumstances. In this article, we will explore the average cost of living in Utah, including housing, transportation, groceries, healthcare, and more.
Utah’s cost of living is generally considered to be lower than the national average. According to the Council for Community and Economic Research, the cost of living in Salt Lake City, the state’s largest city, is about 2% below the national average. However, this can vary greatly depending on the specific area within the city and the type of lifestyle you choose.
One of the most significant factors in determining the average cost of living in Utah is housing. While housing costs are generally lower than in many other Western states, they can still be a substantial expense. In Salt Lake City, the average rent for a one-bedroom apartment is around $1,100 per month, and the average home price is approximately $350,000. In contrast, in Provo, which is home to Brigham Young University, the average rent for a one-bedroom apartment is about $875 per month, and the average home price is around $275,000.
Transportation costs in Utah are relatively low compared to other parts of the country. The state has an extensive public transportation system, including buses and TRAX light rail in Salt Lake City. Gas prices are also typically lower than the national average. However, owning a car is often necessary, especially in rural areas, which can add to the cost of living.
Utah’s grocery prices are generally lower than the national average, making it a budget-friendly option for food costs. The average cost of groceries per person per month is around $300, which is approximately $50 less than the national average.
Healthcare costs in Utah are also lower than the national average. The average monthly premium for a family health insurance plan is about $700, and the average out-of-pocket healthcare expenses per person per year are around $1,200.
When considering the average cost of living in Utah, it’s important to remember that the costs can vary greatly depending on your personal circumstances. For example, if you have a family, you’ll likely face higher costs for housing, transportation, and childcare. Additionally, if you’re looking to live in a more urban area, such as Salt Lake City, you can expect higher costs for housing and entertainment.
In conclusion, the average cost of living in Utah is generally lower than the national average, making it an attractive option for those looking for a cost-effective lifestyle. However, it’s important to research the specific costs associated with your chosen city and lifestyle to ensure that you’re making an informed decision about your move to the Beehive State.
