Is $100,000 a Good Salary to Live in Utah?

The question of whether a $100,000 salary is “good” is common, yet its answer is rarely straightforward. A good salary is subjective, intertwined with an individual’s financial responsibilities, aspirations, and chosen lifestyle. Understanding an income’s true value requires examining the local economic landscape, including daily living expenses and prevailing income levels. This exploration into Utah’s financial environment will clarify how a $100,000 salary translates into purchasing power and quality of life within the state.

Cost of Living in Utah

Living in Utah involves various expenses, with housing typically representing the largest portion of a household’s budget. The median home price in Utah was approximately $547,700 in late 2024, placing it among the top ten most expensive housing markets nationally. For renters, average costs range from about $946 to $1,840 per month, with a one-bedroom apartment in Salt Lake City averaging around $1,083. Salt Lake County rents average $1,593.

Utilities are a monthly expense. The average utility bill in Utah is approximately $271 per month, though some reports indicate it could be around $345. This typically includes electricity, gas, water, internet, and waste management. Specific estimates suggest $81 for electricity, $52 for gas, $41 for water, and $97 for cable and internet.

Transportation costs can add up, whether through vehicle ownership or public transit. A single adult in Utah might spend around $5,300 annually on transportation. This includes gas and auto insurance, which averages about $1,047.44 annually. Public transportation options exist, particularly in urban centers like Salt Lake City, where the average fare was $1.07 in 2022.

Food expenses are moderate in Utah. Utahns spend approximately $259 per person per month on groceries. For a family of four, this could translate to over $1,040 monthly.

Healthcare costs contribute to living expenses. The average annual per-person cost for healthcare in Utah is about $5,735. Health insurance premiums vary, with marketplace benchmark plans costing around $507 per month on average. Many residents qualify for subsidies that significantly reduce this cost.

Taxes impact disposable income. Utah has a flat state income tax rate of 4.55% for the 2024 tax year. The state sales tax rate is 4.85%, but local jurisdictions can add their own sales taxes, with some areas reaching up to 8.35%. Groceries are subject to a reduced sales tax rate of 1.75% at the state level, plus local taxes, totaling 3%. Property taxes in Utah are low, with an average effective rate around 0.55% to 0.58%. A primary residence benefits from a 45% exemption.

Income Levels in Utah

Understanding how a $100,000 salary compares within Utah’s economic landscape requires examining the state’s average and median income figures. The median household income in Utah was approximately $93,421 in 2023. When adjusted for cost-of-living differences between states, Utah’s median household income ranks among the highest nationally, at $98,336.

While $100,000 exceeds the median household income, household income often includes earnings from multiple individuals. The average individual income per person in Utah is lower, at about $39,240. For full-time workers, the average salary in Utah is around $80,382, with a median salary of $60,263.

A $100,000 salary is significantly higher than the average individual income and also surpasses the median household income. The value of this income can vary depending on the industry and occupation.

Utah has a diverse economy with strengths in sectors like technology, healthcare, and manufacturing. A $100,000 salary might be high in some fields, while in others, particularly specialized or senior roles, it could be closer to an average compensation. While $100,000 is a strong salary in Utah overall, its relative standing can differ based on professional context.

Personalizing Salary Value in Utah

The adequacy of a $100,000 salary in Utah depends on an individual’s specific personal circumstances and financial decisions. Household composition significantly alters financial needs; a single individual will have different expenses than a couple or a family with dependents. Childcare costs can add substantial financial pressure, making a $100,000 salary stretch less far for families.

Geographic location within Utah plays a major role in how far $100,000 can go. Urban centers, such as parts of Salt Lake City, have higher housing costs and overall living expenses compared to more suburban or rural areas. Opting for a lower-cost region can significantly enhance the purchasing power of the same income.

Lifestyle choices directly influence financial comfort. Individuals who frequently dine out, travel, or engage in expensive entertainment may find their $100,000 salary less ample than those who maintain a more frugal lifestyle. Personal spending habits, including the frequency of luxury purchases, impact disposable income and savings potential.

Existing debt obligations, such as student loans, car payments, or credit card debt, reduce the amount of discretionary income available from a $100,000 salary. High debt payments can make an otherwise strong income feel less sufficient. Understanding one’s debt-to-income ratio is important for assessing financial flexibility.

Individual financial goals shape the perception of salary adequacy. Someone saving aggressively for a home down payment, retirement, or significant investments may view $100,000 differently than someone with fewer savings goals. The ability to meet these long-term financial objectives indicates whether a salary is truly good for an individual.