Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Salt Lake City might be more expensive than living in rural Utah, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Salt Lake City neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Salt Lake City are the cheapest.
What’s the cheapest neighborhood to live in Salt Lake City for 2020? According to the most recent census data, Rose Park looks to be the cheaptest Salt Lake City neighborhood to live in.
At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Salt Lake City. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Salt Lake City that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Salt Lake City.
Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more Utah reading, check out:
- Best Places To Live In Utah
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How We Determined The Cheapest Salt Lake City Hoods In 2020
In order to rank the cheapest places to live in Salt Lake City, we had to determine what criteria defines “cheap”.
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 19 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Salt Lake City.” We’re lookin’ at you, Rose Park.
Read on below to learn more about what it’s like to live in the cheapest places Salt Lake City. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
The 10 Cheapest Neighborhoods To Live In Salt Lake City For 2020
The median income in Rose Park comes in at $51,215 and the median home value is $147,438 for 2020.
The median income in Fairpark comes in at $43,512 and the median home value is $132,412 for 2020.
The median income in Poplar Grove comes in at $39,461 and the median home value is $120,346 for 2020.
The median income in Westpointe comes in at $46,258 and the median home value is $160,662 for 2020.
East Bench in Salt Lake City, Utah is a relatively affluent and primarily residential neighborhood of Salt Lake City that lies at the base of the Wasatch Range and extends west to approximately 1500 East. Foothill is the northern part of this area, divided by Interstate 80, and takes its name from the area’s major traffic artery of Foothill Drive, which runs parallel to the base of the mountains and connects Interstate 80 with the University of Utah and downtown Salt Lake City. The East Bench is bordered on the north by the Federal Heights neighborhood and on the south by the Traverse Mountains. This neighborhood becomes increasingly affluent moving from west to east. The University of Utah sits at the north end of this neighborhood. Points of interest include the Hogle Zoo, Red Butte Garden and Arboretum, This Is The Place Heritage Park, Fort Douglas Military Museum and the Foothill Village Shopping Center. Some notable residents and former residents include numerous authorities of The Church of Jesus Christ of Latter-day Saints, LDS speaker John Bytheway, and billionaire philanthropist Jon Huntsman, Sr..
The median income in East Bench comes in at $120,545 and the median home value is $480,350 for 2020.
The median income in Liberty Wells comes in at $47,682 and the median home value is $215,480 for 2020.
The median income in Glendale comes in at $40,190 and the median home value is $154,469 for 2020.
Sugar House is a neighborhood in Salt Lake City, Utah, United States. It is one of the city’s oldest neighborhoods and the name is officially two words. Sugar House is the site of Westminster College.
The median income in Sugar House comes in at $76,035 and the median home value is $324,184 for 2020.
The median income in Yalecrest comes in at $90,422 and the median home value is $405,460 for 2020.
The median income in Wasatch Hollow comes in at $104,977 and the median home value is $438,643 for 2020.
Summing Up The Cheapest Places In Salt Lake City
If you’re measuring the neighborhoods in Salt Lake City where prices are low and it’s cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Salt Lake City aren’t all cheap. Arcadia Heights takes the title of the most expensive neighborhood to live in Salt Lake City.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Utah reading, check out:
- Cheapest Places To Live In Utah
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- Richest Cities In Utah
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Detailed List Of The Cheapest Neighborhoods To Live In Salt Lake City For 2020
|Rank||Neighborhood||Cost Of Living Index|
|12||Central City-Liberty Welss||102|