Median rent is 25% lower in Salt Lake City ($1,343/mo vs $1,779/mo). Buying is cheaper in Salt Lake City, where the median home runs $495,700 versus $751,700. Households earn more in New York ($79,713 vs $74,925 a year). Taken together, Salt Lake City is the more affordable choice with a cost index of 95.8 against 113.0 — about 15% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Salt Lake City, UT.
Quick verdict
Salt Lake City is 15% cheaper overall
Cost index: 95.8 in Salt Lake City vs 113.0 in New York (US average = 100)
City A
New York, NY
City B
Salt Lake City, UT
How much would you need to earn in Salt Lake City, UT to maintain your standard of living from New York, NY?
Equivalent salary in Salt Lake City, UT
$63,623
You could earn $11,377 less (15% lower) and break even.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
New York
New York
Salt Lake City
Utah
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Salt Lake City — median rent of $1,343/mo versus $1,779/mo in New York, a 25% difference. Home buyers face a steeper market in New York: the median home is $751,700 versus $495,700 in Salt Lake City — 34% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
New York's top income tax rate is 10.90% versus 4.65% in Utah, so Salt Lake City is more tax-friendly for high earners. Sales tax is 4.00% in New York and 4.85% in Utah; New York has the lower rate (local add-ons may apply in both).
New York
Income tax: 10.90%
Sales tax: 4.00%
Salt Lake City
Income tax: 4.65%
Sales tax: 4.85%
Salt Lake City has cleaner air on average: 31.0 AQI (Good) compared to 61.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Salt Lake City if you prioritize lower overall cost of living (index 95.8 vs 113.0).
Pick New York if you prioritize higher median household income ($79,713/yr).
Pick Salt Lake City if you prioritize cheaper rent ($1,343/mo median).
Pick Salt Lake City if you prioritize cleaner air quality (avg AQI 31.0).
Is New York cheaper than Salt Lake City?
Salt Lake City is cheaper overall, with a cost of living index of 95.8 versus 113.0 (US average = 100). That means prices run about 15% lower in Salt Lake City.
How much is rent in New York vs Salt Lake City?
Median rent is $1,779/mo in New York, NY and $1,343/mo in Salt Lake City, UT. Salt Lake City, UT has the lower rent by about 25%.
Which has higher salaries — New York or Salt Lake City?
Median household income is $79,713 in New York, NY and $74,925 in Salt Lake City, UT. New York, NY has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Salt Lake City, UT has better air quality on average: 31.0 AQI versus 61.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — New York or Salt Lake City?
New York's top income tax rate is 10.90% and Utah's is 4.65%. Salt Lake City, UT has the lower rate.
What salary do I need in Salt Lake City to match my New York income?
To maintain the same purchasing power, a salary of $100,000 in New York, NY is equivalent to roughly $84,831 in Salt Lake City, UT (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology