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Are Utahns making enough money to afford rising home prices?

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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? (Photo: KUTV FILE)

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

A county-by-county summary of Utah housing statistics can be found online here. More information about household incomes can be found here.

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