Top 10 most affordable places to live in Utah
Utah ranks as the 9th least affordable state for homebuyers, with a median home sale price of $634,200 and a median household income of $93,421, resulting in an affordability score of 6.8, according to Clever Real Estate. According to List with Clever, Utah’s typical home value stands at $529,260, which is 40.8% higher than the national average. Despite this challenging overall market, several cities and zip codes throughout Utah offer significantly more affordable options for potential homeowners and renters.
Vernal (84078)
According to Clever Real Estate’s analysis, Vernal’s 84078 zip code is the cheapest place to live in Utah, with a median home value of $328,045. Average monthly rent costs $1,411, and homeowners pay a median property tax of $1,490 annually. Energy costs are $0.11 per kWh, the lowest rate among Utah markets.
Tooele (84074)
Tooele ranks second-cheapest with a median home value of $456,558, according to Clever Real Estate. Average monthly rent costs $1,450, and homeowners pay $2,290 in property taxes annually. Energy costs match Vernal at $0.11 per kWh.
Cedar City (84721)
Cedar City ranks third with a median home value of $395,934, per Clever Real Estate data. Rent averages $1,302 monthly, and property taxes are $1,411 annually. Home to Southern Utah University and the Shakespeare Festival, Cedar City offers cultural amenities unusual for such an affordable market.
Roosevelt (84066)
Roosevelt’s median home value is $342,063, making it the third-cheapest housing market, according to Clever Real Estate. Renters pay $1,780 monthly, and property taxes average $1,676 annually.
Washington Terrace (84405)
Washington Terrace ranks fifth with a median home value of $447,329, per Clever Real Estate. Rent costs $1,488 monthly, and property taxes are $2,192 annually.
West Valley City (84128)
West Valley City’s median home value is $477,686, according to Clever Real Estate. Rents average $1,774 monthly, offering affordable urban living within the Salt Lake City metropolitan area.
Price (84501)
Price offers the cheapest home values in Utah at $288,743, per Clever Real Estate data. Renters pay $1,780 monthly, and property taxes are just $1,383 annually, the state’s lowest.
Ogden (84401)
Ogden’s median home value is $435,025, according to Clever Real Estate. Rent averages $1,382 monthly, and property taxes are $2,452 annually.
American Fork (84003)
American Fork’s median home value is $590,050, per Clever Real Estate. Rent costs $1,638 monthly, and property taxes are $2,520 annually.
Orem (84057)
Orem rounds out the top ten with a median home value of $466,417, according to Clever Real Estate. Rent averages $1,427 monthly, and property taxes are $1,718 annually.
Market factors and buyer tips
According to List with Clever, home values in Utah have fallen 0.31% over the past year, indicating a buyer’s market. The sale-to-list price ratio is 98.50%, and housing inventory represents about 5.52 months of supply. The 30-year mortgage rate is 7.03%, with a median days on market at 67 days. Prospective buyers should research local amenities, evaluate commute times, and consult local agents. Salt Lake City ranks as the best commuter city, making proximity important for workers.
Conclusion
Utah offers several affordable living options, with cities like Vernal, Tooele, and Cedar City providing a balance between affordability and quality of life, according to Clever Real Estate’s analysis. While Utah ranks as the ninth least affordable state overall, these communities demonstrate that homeownership remains possible for those willing to consider locations outside expensive metropolitan areas.
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