From New York Post · · 1m 40s
Utah's $520K problem: 91% of renters are locked out
Utah home prices hit a record high in 2026, and the math now shuts out nine in ten renters.
In brief
Utah home prices hit a record high in 2026, and the math now shuts out nine in ten renters. Buying a median Utah home takes about $147,000 a year, while the typical renter household makes $64,000, so renting is the only option for most. Originally reported by New York Post.
A new record price
Utah's median sale price across all housing types hit $520,000 in the first quarter of 2026, up from $500,000 a year before. The old peak was $502,000 back in 2022.
Ten years, double the price
Utah is now the 10th most expensive market for single-family homes, with a median of $559,900. In 2016 that same median was $249,900.
The income gap
Buying a median-priced home with 10% down needs $146,800 a year. Utah's median household income is $96,658, and renter households sit at $64,000.
Almost nothing is affordable
For a renter household earning the median $64,000, just 4.9% of the homes sold in 2025 were within reach.
Apartments got slightly easier
For every 100 households earning up to 80% of area median income, 108 affordable rentals existed in 2025, up from 100 in 2023. Apartment asking prices fell 2.3%.
Houses to rent got worse
Over the same stretch, rent for single-family detached homes climbed 8.5% and townhomes 8.3%. The relief was only in apartment buildings.
Pay yourself like a bill
Utah offers up to $20,000 in first-time buyer help on homes under $450,000. Agents say the savers who make it automate a transfer on payday instead of saving leftovers.
“It sounds simple, but it's the difference between having $0 and having $15,000 saved in two years.”
The bottom line
Buying a median Utah home takes about $147,000 a year, while the typical renter household makes $64,000, so renting is the only option for most.
