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Study shows Utah housing prices increased 200% in past two decades

Utah  housing
Posted at 10:54 AM, Apr 19, 2022
and last updated 2022-04-19 14:13:36-04

SALT LAKE CITY — A new study shows Utah's housing costs jumped by 200% between 2000 and 2022.

The typical home value in Salt Lake City in 2000 was $187,200. The typical home value two decades later in Salt Lake City in 2022 was $560,944.

According to the study by MoneyGeek, only 13 other metro areas saw a bigger increase in home prices over 20 years.

Boise, Idaho, and Naples, Florida were the most unaffordable places in the United States according to the study.

Davis County and Salt Lake County were also listed in the report as two of the most unaffordable counties for housing in the entire country. Davis County came in at seventh place and Salt Lake County came in ninth place.

The study by MoneyGeek, compared housing prices and median income increases since 2019 and ranked the 26 counties in the U.S. that saw the largest growth in that gap. Larger counties in markets such as NYC or San Francisco were left out of the study since they were already deemed unaffordable long before now.