Utah ranks #1 nationally for household income adjusted for cost of living, boosting real buying power.
Utah’s diversified economy and strong GDP growth fuel rising household wages despite high housing costs.
Utah aims to build 35,000 starter homes in four years to address housing affordability. Gov. Spencer Cox met with 48 mayors to discuss progress, noting 5,100 homes are underway but more effort is needed due to population growth. Cities like Clearfield and Herriman face challenges like rising development costs. Officials emphasize collaboration and practical solutions to make homeownership attainable statewide.
Investing in rental properties requires a large upfront investment, but Real Estate Investment Trusts (REITs) offer a more affordable and passive alternative. Companies like Invitation Homes and Equity Residential allow investors to access rental properties for a lower cost, providing steady dividend income and potential for growth. REITs are a low-cost and passive way to generate income from real estate.
Japandi style tops buyer preferences with its minimal, nature-inspired, and calming aesthetic.
Scandinavian design emphasizes simplicity, natural materials, and serene neutral tones.
In 2025, housing affordability remains a major issue across the US, straining household budgets.
New data shows that in several states, housing costs now exceed 50% of avg household income, well above the 30% affordability threshold.
In Utah, rising property values have pushed housing costs to 31.7% of avg household income.
Both homeowners and renters are feeling the impact, with mortgage payments, rent, and utility bills taking up large portions of income.
Experts advise strategies like improving credit, reducing energy use, and making housing a top budgeting priority.
A new study has ranked U.S. states based on the difficulty first-time homebuyers face when trying to enter the housing market.
Arizona ranks #7 overall (tied), making it one of the seventh hardest states for first-time buyers to afford a home.
The median home value in Arizona is $403K, with a typical down payment of $58K (14.4% of the home price).
On average, it takes 5.5-yr for buyers in Arizona to save enough for a down payment.
The study assumes buyers rent a 2-bedroom home and save 30% of their income to estimate the time needed to afford a down payment.