In a recent study, we analyzed and identified the richest cities in Colorado. Now, we’re going to continue our tour of the Rocky Mountain states and we’re focusing our attention on the state that saw the completion of the first transcontinental railroad with the famous “golden spike” driven home in 1869 at Promontory Summit — Utah.
We analyzed over 330 cities in the state in order to zero in on the richest cities in Utah. The method in which we evaluated and scored each city’s ranking is detailed below.
Read on to find out what the richest city in Utah is, plus the top 50 wealthiest cities in the state overall.
What Are the Richest Cities in Utah?
In order to compile this list of the richest cities in Utah, we sourced key financial data from the Census Bureau’s 2022 American Community Survey. Armed with these datasets, we constructed a four-factor scoring system to help identify the wealthiest cities in Utah:
- Median household income
- Mean (average) household income
- Median home value
- Median property taxes paid
When it comes to Census data, there are a few quirks to bear in mind: For certain factors, the Census numbers have upper limits, so there’s no exact value for certain factors. For example, for median household income, the Census Bureau has an upper limit of “$250,000+”. For median home value, the upper limit is “$2,000,000+”. For median property taxes paid, the upper limit is “$10,000+”. For these reasons, the mean household income (which is the same as average household income) dataset is crucial because the Census Bureau has exact figures for it. All four of these metrics were scored, added up, and then ranked by the cities’ combined scores.
Below you’ll find a table detailing the top 50 richest cities in Utah and their respective dollar figures for each metric: