Utah named ‘most affordable’ state in newly released report

Aubree B. Jennings
·2 min read
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SALT LAKE CITY (ABC4) — While Utahns feel the economic weight of high housing prices and interest rates, they might be surprised to learn they live in the most affordable state in the nation, according to a recent report by USA Today Homefront.

The report, which was released earlier this month, placed Utah as the most affordable state to live in when comparing the cost of living to the median income.

“Another accolade: New study shows Utah as the most affordable state in the nation!” Gov. Spencer Cox posted Wednesday on Twitter/X.

Utah ranked first in affordability, but that does not necessarily mean it is the cheapest place to live in the United States.

When looking exclusively at the cost of living, more than 35 states were cheaper to live in than Utah, which has a calculated cost of living of $56,436, according to the study.

This means the average amount spent on groceries, gas, taxes, housing, and health care was lower in those states than in Utah. However, the median income of those states also fell below Utah’s median income of $89,168, which places Utah in the top 10 highest median incomes in the nation.

Therefore Utahns “spend the least percentage of their income on necessities (63.3%) and have the most annual income left over ($32,732),” the report said.

Researchers point to one factor that helps with Utah’s affordability: low health care costs.

“Utah spends the least in both absolute dollar amounts ($6,213) and as a percentage of income (7.0%), indicating a relatively efficient and affordable health care system,” the report says.

As a point of contrast, West Virginia’s median income falls just above $54,000, significantly lower than Utah’s, however, West Virginians spend $10,000 annually on health care costs, lowering the state’s affordability.

After Utah, the report names Tennessee, Arizona, Nevada, and Washington as the next in line for most affordable states. The least affordable states in the nation are New York, California, Hawaii, Louisiana, and Oregon.

To see a breakdown of where Utah falls in each cost of living category, review the methodology or view data on other states, see the report here.

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