Is Utah a wealthy state? Here’s what the data says about income, land prices, and cost of living

When people ask if Utah is a wealthy state, they’re often really asking: Is it worth buying land here? The answer isn’t simple. Utah has booming cities, low unemployment, and some of the fastest-growing counties in the U.S. But it also has rural areas where poverty rates are higher than the national average. The truth? Utah’s wealth is uneven-and that directly affects land prices, who can afford it, and where the best deals are.

Utah’s median household income is above average, but not as high as you think

In 2024, Utah’s median household income was $81,300, according to the U.S. Census Bureau. That’s about 12% higher than the national median of $72,500. Sounds good, right? But here’s the catch: Utah’s cost of living isn’t just high-it’s rising faster than incomes in many areas.

Take Salt Lake City. A family making $80,000 a year is considered middle-class. But if you’re trying to buy even a modest 2,000-square-foot home on a half-acre lot in the suburbs, you’re looking at $600,000 to $750,000. That’s more than double what it cost in 2019. Meanwhile, in rural counties like Piute or Wayne, median incomes drop to $55,000 or less. Land there might cost $15,000 an acre-but you’re not getting water rights, internet, or a reliable power grid.

Land prices tell the real story

If you’re looking at land for sale in Utah, you’re not just buying dirt. You’re buying access-to water, to roads, to zoning rules, and to future appreciation. In Wasatch County, near Park City, raw land sold for $12,000 per acre in 2020. By 2025, that same land was going for $85,000 per acre if it had even partial water rights. In contrast, in the high desert of Emery County, you can still find 10-acre parcels for under $10,000. But those parcels don’t have wells, septic approval, or cell service.

Why the gap? Demand. Utah added over 400,000 new residents between 2019 and 2024. Most moved to the Wasatch Front-Salt Lake, Provo, Ogden. That’s where land prices exploded. Outside that corridor, the market is flat or even declining. So if you’re thinking of buying land as an investment, location isn’t just important-it’s everything.

Who’s actually wealthy in Utah?

Utah has the highest percentage of households with two income earners in the U.S. That’s not because people make more money-it’s because nearly every family has two people working. The state also has the lowest percentage of single-parent households, which helps keep poverty rates lower than you’d expect for a state with a young population.

But wealth isn’t evenly spread. The top 10% of earners in Utah make over $220,000 a year. That’s the same as the top 10% in California. But the bottom 20%? They make less than $28,000. That’s below the federal poverty line for a family of four. And here’s the kicker: Utah’s housing shortage means low-income families are being pushed farther out-into areas with no schools, no jobs, and no public transit.

That’s why you’ll see land for sale in places like Tooele or Juab County that’s cheap-but only because no one wants to live there. The land isn’t cheap because it’s undervalued. It’s cheap because it’s isolated.

Utah’s economy is strong-but it’s built on a few pillars

Utah doesn’t have Silicon Valley. It doesn’t have Wall Street. But it does have tech. Adobe, Qualtrics, and over 1,200 software companies call Utah home. The state has the highest percentage of workers in tech jobs outside of Washington and California. That’s why median wages in Salt Lake County are rising faster than in any other part of the state.

But that’s only part of the picture. Utah also has one of the highest rates of self-employment in the country. Many people run small businesses-outdoor gear shops, home-based contractors, local farms. These aren’t high-paying jobs, but they’re stable. And they’re why you’ll find so much undeveloped land in the Wasatch Back: people buying 5-acre plots to build cabins, raise goats, or start micro-farms.

That’s the real Utah: a mix of corporate tech wealth and quiet, self-sufficient living. The land you buy depends on which side you’re on.

What does this mean for land buyers?

If you’re looking to buy land in Utah, here’s what you need to know:

• Don’t chase cheap land near cities. If it’s under $50,000 for 5 acres and within 30 miles of Salt Lake or Provo, it’s probably zoned for agriculture or has no building permits. You’ll spend more fixing it than you saved buying it.
• Water rights are worth more than the land. In Utah, water is legally tied to the land. A parcel with documented water rights can be 5x more valuable than one without-even if they’re side by side.
• Check the county’s development plan. Some counties, like Summit or Washington, are actively encouraging growth. Others, like Daggett or San Juan, are trying to stay rural. That affects future value.
• Don’t assume tax breaks mean affordability. Utah has low property taxes, but that doesn’t mean you can afford the land. Many buyers get shocked when they realize they need $20,000 just to drill a well and install a septic system.

The smartest buyers aren’t looking for the cheapest land. They’re looking for land that’s legally buildable, has access to utilities, and is in a county that’s growing. That’s where the real wealth is being built.

Utah isn’t rich-it’s growing fast, and that’s different

Utah isn’t a state full of billionaires. It doesn’t have the wealth of Massachusetts or the tech riches of California. But it has something rarer: momentum. People are moving here. Jobs are being created. Schools are expanding. Infrastructure is improving.

That’s why land in the right place is a good bet. Not because Utah is wealthy-but because it’s becoming more connected, more populated, and more valuable. The trick is knowing where to look.

Buy land near a growing town with good schools and a clear water source. Avoid the desert edges unless you’re ready to live off-grid for a decade. And never assume low prices mean low risk. In Utah, the cheapest land often comes with the highest hidden costs.