Full Cost of Living comparison Salt Lake City, Utah vs Las Vegas, Nevada. (2024)

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Full Cost of Living comparison Salt Lake City, Utah vs Las Vegas, Nevada.? ›

Cost of Living Comparison Between Salt Lake City, UT and Las Vegas, NV. You would need around 5,766.1$ in Las Vegas, NV to maintain the same standard of life that you can have with 5,800.0$ in Salt Lake City, UT (assuming you rent in both cities).

Salt Lake City, Utah

You might expect Utah's capital city to be more expensive than Vegas. And you'd be right. Payscale lists the cost of living in SLC as 7.2% higher than Vegas. And 11% higher housing.

The cost of living in Salt Lake City, UT is 8% higher than the state average and 9% higher than the national average. Salt Lake City, UT housing is 24% more expensive than the U.S average, while utilities are about 7% less pricey.

As of the end of last year, Utah's median home price was more than $533,000. The state's individual income per capita was just above $63,000. That comparison makes Utah the third-least affordable state to buy a home in the nation, behind only Hawaii and California.

Las Vegas's housing expenses are 10% higher than the national average and the utility prices are 2% higher than the national average. Transportation expenses like bus fares and gas prices are 13% higher than the national average. Las Vegas has grocery prices that are 3% higher than the national average.

Cost of Living Comparison Between Salt Lake City, UT and Las Vegas, NV. You would need around 5,766.1$ in Las Vegas, NV to maintain the same standard of life that you can have with 5,800.0$ in Salt Lake City, UT (assuming you rent in both cities).

To comfortably live in a one-bedroom apartment in Salt Lake City, you should earn at least $71,360 a year. The median income in Salt Lake City is $63,156, which provides a comfortable lifestyle.

The Salt Lake City cost of living index is 107.4 which means it's 7.4% more expensive than the national average. This cost of living index for Q3 2022 is up from 102.1 in 2021. By comparison, the Utah cost of living index is 99.

SALT LAKE CITY — Household expenses are almost 11% higher in Salt Lake City than the national average. The monthly costs sit around $2,300 and they're rising according to the 2024 Household Bill Pay Report compiled by doxoINSIGHTS.

Overall the cost of living in California is 32.3% more expensive than Utah, and you don't get the traffic you do in CA! In addition, Los Angeles is 44.4% more expensive than Salt Lake City, Utah.

What is the #1 cheapest state to live in? ›

The cheapest states to live in are Mississippi, Oklahoma, Kansas, Alabama, Georgia, Missouri, Iowa, Indiana, West Virginia, and Tennessee. Mississippi is the cheapest state to live in in the US, with a cost of living index of 85. The second cheapest state to live in is Oklahoma, with a cost of living index of 85.8.

The report found that in order to “live in sustainable comfort” in Las Vegas, a single adult would need to make $94,432 annually or $45.40 per hour. For two working adults with two children in Las Vegas, SmartAsset said the pair would need to make a combined $239,366 annually in order to live comfortably.

Las Vegas ranked 51st, with the required hourly wage for a single person to live “comfortably” coming in at $45.40. An annual salary of $94,432 would be required for the same comfort of living, and for two working adults with two children, a salary of $239,366 would be required for the aforementioned comfort level.

Annual Salary You Need For Living Comfortably In Las Vegas

According to an article by Jaclyn DeJohn on SmartAsset.com, a single adult in Las Vegas needs to earn an annual salary of $94.432 dollars.

The cost of living in Layton, UT is -7.4% lower than in Las Vegas, NV. You would have to earn a salary of $55,571 to maintain your current standard of living. Employers in Layton, UT typically pay -7.3% less than employers in Las Vegas, NV.

Salt Lake City, Utah's cost of living is 8% higher than the national average.

Overall the cost of living in California is 32.3% more expensive than Utah, and you don't get the traffic you do in CA! In addition, Los Angeles is 44.4% more expensive than Salt Lake City, Utah.

The Salt Lake City metro area currently has a median home price of $546,900 and a median household income of $91,891 in 2022 — a price-to-income ratio of 6. That's “significantly higher than the expert-recommended ratio of 2.6,” according to the analysis.