Utah real estate and demographic information
Whether it is a bunny slope gaper taking in the mountainous scenery or a veteran skier carving lines through moguls at one of the state’s 13 ski resorts, Utah is home to millions of local and visiting skiers-four million of them in 2006. Utah means people of the mountains, and it is a fitting name to describe the people who live among Utah’s 300 mountains that range above 10,000 feet. There are mountains in all of Utah’s 29 counties making each county a place for several outdoor activities including biking, hiking, and backpacking. The outdoor activities may be an attractive sell to Utah’s young population – which is the youngest population in the nation.
The average age of Utah residents is 27. Several factors contribute to a healthy real estate market in Utah. The state has the lowest electric and natural gas rates in the nation. Utah home construction costs are lower than any of the other western states.
Utah’s cost of living is below the national average, though Salt Lake City, UT, the state’s capital, has a higher cost of living than the national average. The average sale price of a home in Washington County, UT, located in the southwestern part of the state, is the highest in Utah at 1,295 during the third quarter of 2006. Homes in the Salt Lake City region of the state, during the same period in 2006, had an average sale price of 3,955 while northern Utah’s Cache-Rich counties have the lowest at 5,023. The state-wide average home price in Utah is 3,500 during the third quarter 2009, up 25 percent from 2005.
Seventy-one percent of the homes in Utah are owner-occupied. The average price for a home in the nation during the same quarter was much lower, priced at 4,900. Utah ranks as one of the top states in educational attainment, which can be attributed to a number of factors including that Utah schools have 93 percent Internet access in one or more classrooms. As of 2000, 90. 7 percent of Utah residents age 25 or older completed high school and 26. 9 percent earned a bachelor’s degree or higher.
Utah ranked second in the nation for spending on higher education and has 27 colleges and universities. Utah University, located in Salt Lake City, UT, as of 2004 had students from all of the state’s 29 counties, all 50 US states and more than 100 countries. Some of the most popular majors at Utah universities include social sciences and history, business commerce and the performing and visual arts. Utah has the highest fertility rate in the nation, the youngest population, and the most people per household.
Residents in Utah are expected to live longer than residents in 46 other states in the nation. With a robust economy, low unemployment rate, and job growth, Utah has a lot to offer its 2. 5 million residents. Utah’s population is expected to grow to 2. 8 million by 2010, 3. 5 million by 2020 and 4. 1 million by 2030, according to the U. S. Census. Utah’s population, 89 percent of which is white and 1. 7 percent Asian, has the 10th highest median household income in the nation (,226) but one of the lowest per capita personal income (,061), due to large family sizes in many Utah households.