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Average Income in Utah
- The average salary in Utah is $120,000 per year or $57.69 per hour.
- Median household income in Salt Lake City is $45,833 a year.
- In Utah, you need $198,875 or more to be considered “rich”.
- The ultra-rich make $517,405 on average.
- The average cost of living in Utah ranks it as one of the most expensive states.
- Higher education earns more income in Utah.
- Best jobs in Utah include Family Medicine Physician with $201,560 per year salary.
- Healthcare professionals make around $90,000 per year.
- Finance jobs like analysts and bankers have higher than average salaries.
Cost of Living in Utah
- Renting costs between $835 and $1,580 per month.
- The average salary in Utah is $57,462 per year.
- In Utah, you’ll need to earn $198,875 or more to be considered “rich”.
- The ultra-rich make $517,405 on average.
- Depending on where you live and lifestyle, living comfortably in Utah ranges from $20,000 to $40,000 annually.
Real Estate and Taxes in Utah
- Home pricing has been rising in Utah, making purchasing a home difficult for residents.
- Costs average $338,200 in Utah.
- Utah is more financially friendly regarding taxes than California.
Income Levels in Utah
- In Utah, you’ll need to earn $198,875 or more to be considered “rich”.
- The top 5% of earners make $517,405 on average.
- You need to earn $217,757 per year to be in the top 5% in Utah.
Additional Information
- Utah has a 4.95% flat personal income tax rate.
- Groceries are taxed at 3% in Utah.
- Overall cost of living in Utah is 53% higher than the national average.
- Median household income is highest in Kaysville at $111,000.
- Bountiful also has high median income around $105,000.
