LOCAL NEWS

Study lists Davis, SL counties as places where ‘homeownership has become unaffordable’

Apr 19, 2022, 4:15 PM | Updated: Jun 20, 2022, 1:32 pm
ST. GEORGE, UT - OCTOBER 13:  The Sunriver housing development is seen October 13, 2005 in St. Geor...
ST. GEORGE, UT - OCTOBER 13: The Sunriver housing development is seen October 13, 2005 in St. George, Utah. Sunriver, a 2400 home development, is one of the first developers to integrate cable TV, phone, Internet, security and home environmental controls into one system. (Photo by George Frey/Getty Images)
(Photo by George Frey/Getty Images)

A recent study shows 26 counties in the U.S. were being a homeowner is unaffordable, including two in Utah in the top 10.

The MoneyGeek study narrowed down counties that had populations larger than 250,000 and increased their growth above the national average in the last three years.  It then looked into three main factors for the price increase:

  • home price appreciation since 2019
  • the ratio of homeownership costs to rent
  • homeownership costs as a percentage of median income

Davis County placed seventh while Salt Lake County is ninth.

According to the study, the median income for both counties in 2022 is about $35,000 while the median home price ranges from $428,500 to $449,000.

The study also lists that the own-to-rent ratio is two-to-zero in Davis County and one-to-eight in Salt Lake County.

Washington had the most counties with six of the 26 counties on the list taking 10, 13, 14, 17, 20 and 26 in the study.

The other top 10 counties include one from Idaho, Florida and Nevada, and two counties from Texas and Colorado.

For more information on the study, you can click here.

KSL 5 TV Live

Top Stories

Local News

...
Matt Gephardt and Cindy St. Clair

After new homes flood, residents question if builder or Mother Nature is to blame

Several new homes in a Lehi community flooded during rainstorms earlier this month. When they say the home builder told them they weren’t responsible, they decided to Get Gephardt to investigate.
1 day ago
...
Andrew Adams

Taylorsville music store temporarily closed by broken pipes, flooding

The owner of a longtime music store said Tuesday that extreme cold temperatures contributed to a fire suppression system malfunction that led to pipes breaking and a flooded storefront. 
1 day ago
...
Ashley Moser

UDOT crews catch skiers in backcountry area closed for avalanche work

UDOT is urging everyone to obey backcountry closures after they caught two skiers in an area they shouldn’t have been.
1 day ago
Representatives from Utah tribes show support for HB40, a bill patterned after the federal Indian C...
Sydnee Gonzalez

Tribes call for Utah legislators to pass bill to protect Native children

Tribal leaders gathered at the Capitol on Tuesday to call on Utah legislators to pass HB40, which protects Native American children from unnecessary removal from families and tribes.
1 day ago
Utah State University students (mostly) bundled up against the cold weather. (KSL-TV's Mike Anderso...
Mike Anderson

Logan residents persevere through the second day of the winter chill

Logan residents push through the frigid weather as schools and businesses start late to help fight against the cold mornings.
1 day ago
Peter Sinks from Chopper 5...
Katija Stjepovic

Experiencing 62 degrees below zero at Peter Sinks

Tuesday marked another day of arctic temperatures in Utah with some areas even colder than Monday.
1 day ago

Sponsored Articles

Fiber Optical cables connected to an optic ports and Network cables connected to ethernet ports...
Brian Huston, CE and Anthony Perkins, BICSI

Why Every Business Needs a Structured Cabling System

A structured cabling system benefits businesses by giving you faster processing speeds and making your network more efficient and reliable.
notebook with password notes highlighted...
PC Laptops

How to Create Strong Passwords You Can Actually Remember

Learn how you can create strong passwords that are actually easy to remember! In a short time you can create new ones in seconds.
house with for rent sign posted...
Chase Harrington, president and COO of Entrata

Top 5 Reasons You May Want to Consider Apartment Life Over Owning a Home

There are many benefits of renting that can be overshadowed by the allure of buying a home. Here are five reasons why renting might be right for you.
Festive kitchen in Christmas decorations. Christmas dining room....
Lighting Design

6 Holiday Decor Trends to Try in 2022

We've rounded out the top 6 holiday decor trends for 2022 so you can be ahead of the game before you start shopping. 
Happy diverse college or university students are having fun on their graduation day...
BYU MBA at the Marriott School of Business

How to Choose What MBA Program is Right for You: Take this Quiz Before You Apply!

Wondering what MBA program is right for you? Take this quiz before you apply to see if it will help you meet your goals.
Diverse Group of Energetic Professionals Team Meeting in Modern Office: Brainstorming IT Programmer...
Les Olson

Don’t Let a Ransomware Attack Get You Down | Protect Your Workplace Today with Cyber Insurance

Business owners and operators should be on guard to protect their workplace. Cyber insurance can protect you from online attacks.
Study lists Davis, SL counties as places where ‘homeownership has become unaffordable’