Is Moving to Utah a Good Idea?

Are you considering relocating to Utah? With the fastest growing population nationally, the rest of the U.S. is quickly finding out what many Utah residents already know.

Recent census data has put a spotlight on what many Utah residents already know — the Beehive State is one of the best places to live in the United States. According to the latest report, Utah has the fastest-growing population nationally, with an increase of nearly 20% across the last 10 years.

But why are so many out-of-state residents considering moving/relocating to Utah? There are many reasons why Utah has shifted from the best-kept secret of the West to one of the most sought-after markets for prospective homeowners.

Here’s a closer look at what makes Utah a great place to live and a few pros and cons if you’re considering a move.

The Top 3 Things that Make Utah a Great Place to Live

Utah boasts stunning scenery, a low unemployment rate, and a relatively low cost of living, making it easy to see why so many out-of-state residents are opting to relocate to Utah.

Economic Stability
U.S. News & World Report recently named Utah the top state when it comes to the state economy. The Beehive State is ranked eighth in business environment, third in growth, and second in employment, and its low unemployment rate is one of the strongest contributors to Utah’s thriving economy.

In Utah’s latest unemployment summary, unemployment rates dipped to 2.6%, which is significantly lower than the 5.2% national average. While U.S. job growth slipped to -2.8% in August 2021, Utah reported a two-year job growth rate of 3.8%.

Affordability
Aside from the median home cost, Utah is among the more affordable U.S. states in terms of basic living costs, especially compared to other western states. For example, food, transportation, and entertainment costs are at least 34% lower in the Provo-Orem metropolitan area compared to San Francisco, California.

Picturesque National Parks
With five national parks and some of the best ski and snowboard resorts in the country, Utah is every nature lover’s paradise. For those seeking a perfect powder day or a mindful hiking retreat in the mountains, there are outdoor opportunities for all interests and skill levels.

Pros and Cons of Moving to Utah

Whether you’ve already started searching for homes for sale in Utah or you’re looking to build a home in Utah, there are a few more things to consider.
The Pros of Moving to Utah.

It’s easy to get to. In 2020, the Salt Lake City International Airport finished a six-year $4.5 billion construction project. The 21st busiest airport in North America is a national hub, serving 10 major airlines and their affiliates, with nearly 100 non-stop routes.

The climate is ideal. Utah residents enjoy four-season living. Conditions for winter activities are perfect with an average of 43 inches of snow per year, which is nearly double the national average. Colder winters are offset with warm summers and seasonably cool fall and spring seasons.

It’s a safe place to live. Utah’s violent crime rate is 35% lower than the national average. Property crime rates are also well below the national average and sharply declining year after year, dropping 22% since 2019. Among the top safest cities to live in Utah, Spanish Fork ranks atop the list, with nearby Springville also on the list.

The Cons of Moving to Utah
Home prices are rising. Like many states in the U.S., the median home price in Utah has sharply increased. According to Utahrealestate.com, the median home price for a single-family home is $502,500, which is a 22% increase from last October.

Homes are selling fast. While houses for sale in Utah are still flying off the market quickly, it has slowed a bit in recent months. From May through July 2021, the median days on the market for a house in Utah was less than a week. As of October, the number has improved to 10 days — but that isn’t exactly a lot of time for a life-changing purchase.

Finding the Perfect Place to Call Home in Utah

The Provo-Orem metropolitan area includes some of the fastest-growing neighborhoods in the state.

Home to Brigham Young University, Provo is a vibrant college town with highly-rated public schools. Nicknamed “Family City USA,” nearby Orem is also an excellent neighborhood for growing families.

Considered the hub of Silicon Slopes, Lehi is another neighborhood seeing tremendous growth, largely from an increasing number of employers from the tech sector. Since 2010, Lehi has seen a 52% population increase.

Whether you’re looking to purchase a home or locate a new home builder in Salem, Utah, browse all of our neighborhoods to find the perfect place to call home.

Our team at Arive has the knowledge and expertise to help you find or build your dream home. Ready to get started? Get in touch with us today.