How much money do you need to live comfortably in Salt Lake City?
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How much money do you need to live comfortably in Salt Lake City?
The rule stipulates you should spend no more than 30\% of your gross income on rent. To live comfortably in a one-bedroom apartment, you should shoot for an income of at least $62,496 a year or $30.45 an hour. For a two-bedroom apartment, you’ll need to earn at least $82,836 a year or $39.83 per hour.
What salary do you need to live comfortably in Utah?
The Economic Policy Institute’s Family Budget Calculator claims you need a lot more than that — somewhere between $43,000 and $66,000 per year. This criteria is based on the needs for housing, food, transportation, health care and taxes. Here’s all that in context for those living in Utah.
Is Salt Lake City expensive to live in?
Salt Lake City’s housing expenses are 8\% lower than the national average and the utility prices are 22\% lower than the national average. Transportation expenses like bus fares and gas prices are 7\% higher than the national average. Salt Lake City has grocery prices that are 2\% lower than the national average.
What is the average household income in Salt Lake City?
Table
| Population | |
|---|---|
| Income & Poverty | |
| Median household income (in 2019 dollars), 2015-2019 | $60,676 |
| Per capita income in past 12 months (in 2019 dollars), 2015-2019 | $36,779 |
| Persons in poverty, percent | 16.6\% |
Who qualifies for low income Utah?
Federal Income Guidelines for Salt Lake City, UT MSA | Section 8 Income Limits
| Income Limit Category | Persons in Family | |
|---|---|---|
| 1 | 2 | |
| Very Low (50\%) Income Limits ($) | 32,300 | 36,900 |
| Extremely Low Income Limits ($)* | 19,400 | 22,150 |
| Low (80\%) Income Limits ($) | 51,650 | 59,000 |
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