Salt Lake County · Utah · West · 208k residents
Salt Lake City, UT: economy, jobs & business costs
The site-selection read on Salt Lake City: labor costs, talent, corporate tax, energy, and business activity, with the Utah median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: Curated city row; coverage varies by fact.
Average weekly wages in the surrounding labor market run $1,543/wk. Utah's corporate income tax rate is 4.5%. Commercial electricity averages 9.4¢/kWh.
Compare Salt Lake City side by side
Avg. weekly wage
$1,543/wk
Corporate income tax
4.5%
Bachelor's degree or higher
51.5%
Commercial electricity
9.4¢/kWh
Economic momentum
How fast Salt Lake City's economy is moving, ranked against the US cities we track.
87/100
Heating
Ranks Salt Lake City's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| Median home value | $560,000 |
| Price per sq. ft. | $320 |
| Property tax rate | 0.6% |
| 1-bedroom rent | $1,400/mo |
| 2-bedroom rent | $1,750/mo |
| State & local income tax | 4.65% |
| Sales tax | 7.75% |
| Corporate income tax | 4.5% |
| Avg. weekly wage | $1,543/wk |
| Bachelor's degree or higher | 51.5% |
| Commercial electricity | 9.4¢/kWh |
| Businesses per 1k residents | 55.9/1k |
| Wage: Software developer | $129,600 |
| Wage: Registered nurse | $85,890 |
| Wage: General manager | $103,710 |
| Wage: Customer service | $45,410 |
| Wage: Warehouse worker | $37,510 |
| Wage: Heavy truck driver | $62,310 |
| Wage: Electrician | $62,620 |
| Wage: Retail salesperson | $34,420 |
| Cost of living index | 106 |
| Groceries index | 100 |
| Utilities | $155/mo |
| Transit pass | $85/mo |
| Gas price | $3.35/gal |
| Healthcare index | 98 |
| Childcare (per child) | $1,300/mo |
| Median household income | $74,000 |
| Unemployment rate | 3% |
| Population | 208k |
| Crime index | 55/100 |
| School rating | 6.5/10 |
| Walkability | 59/100 |
| Disaster risk | 99/100 |
| Avg. commute | 22 min |
| Sunny days / year | 222 days |
| July high | 91°F |
| January low | 28°F |
| Annual snowfall | 49 in |
| Home price YoY | +1.4% |
| Home price MoM | -0.3% |
| Rent YoY | +1.5% |
| Rent MoM | +0.1% |
| Employment (jobs) YoY | +1.5% |
| Building permits YoY | +150.7% |
| Ocean coast | 590 mi |
| Big lake | 19 mi |
| Mountains | 28 mi |
| Major airport | 5 mi |
| Ski resort | 17 mi |
Popular comparisons
Nearby
- South Salt Lake, UT · 26k
- Millcreek, UT · 64k
- North Salt Lake, UT · 23k
- Murray, UT · 50k
- Taylorsville, UT · 59k
Similar size
- West Valley City, UT · 138k
- West Jordan, UT · 117k
- Provo, UT · 115k
- St. George, UT · 102k
- Orem, UT · 97k
Real listings in Salt Lake City
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Salt Lake City a good place to run a business?
- Utah's corporate income tax rate is 4.5%; average weekly wages in the surrounding labor market run $1,543/wk; commercial electricity averages 9.4¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Salt Lake City, UT?
- Salt Lake City indexes at 106 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,750/mo and a median home value of $560,000.
- How much does a house cost in Salt Lake City?
- The median home value in Salt Lake City is $560,000 (compiled estimate; individual listings vary).
- How much is rent in Salt Lake City?
- A two-bedroom in Salt Lake City rents for about $1,750/mo.