There’s no doubt Utah is doing a lot of construction as the need for more housing continues to grow — but are the houses being built affordable?
We spoke Tuesday with one family in North Salt Lake who just moved into a new home. They were moving within the same neighborhood and trying to find something under $400,000 — a task they found extremely difficult.
The house they were moving from had cost roughly $230,000 about 11 years ago, and when they sold it two weeks back, they got roughly $100,000 more for it.
But the house prices around them went up significantly, too.
We took a look at the numbers and here is what we found, specific to Salt Lake, Davis and Utah Counties:
Median house price in June 2010:
- Davis County: $217,225
- Salt Lake County: $219,000
- Utah County: $197,200
Median house price in June 2017:
- Davis County: $280,000
- Salt Lake County: $300,000
- Utah County: $273,000
Median household income in 2010:
- In Utah: $61,681
- In the U.S.: $56,388
Median household income in 2017:
- In Utah: $68,358
- In the U.S.: $60,336