University of Utah researchers released a report published September 18 stating that 91% of Utah renters cannot afford the monthly payment on a median-priced home in the state. The findings indicate that Utah remains one of the 10 most expensive states in the nation for single-family homes.
According to the report, the statewide median sale price across all housing types rose from $500,000 in early 2025 to $520,000 in early 2026. While the monthly payment on a median-priced home decreased to $3,669 in early 2026 from a 2025 peak of $3,725, a household would still need to earn nearly $150,000 annually to afford a typical purchase.
For renters earning the state's median salary of $64,000, researchers found that less than 5% of homes sold in 2025 were affordable. This has created a growing split between homeowners who secured low mortgage rates during the pandemic and first-time buyers who face high prices and costly borrowing.
The affordability challenges are expected to persist as mortgage rates remain elevated and Utah's population continues to grow. The state is projected to require approximately 280,000 additional housing units by 2035 to meet demand. While the Utah Legislature has provided some cities more options to promote starter-home construction, it has not implemented broad statewide mandates.
