Denver vs Salt Lake City: cost of living compared
Salt Lake City is 16% cheaper than Denver overall. State income tax tops out around 4.4% in CO vs 4.65% in UT.
Indexes use a US average of 100: below 100 is cheaper than the national average. Housing and transportation are derived from median home prices, rents and commute times; figures come from BLS, Census ACS, Numbeo and the MIT Living Wage Calculator.
The big picture
Overall, the cost of living is noticeably higher in Denver compared to Salt Lake City. This difference is primarily driven by housing expenses, which are significantly more expensive in Denver. While other categories like transportation, food, and healthcare also contribute to Denver's higher costs, housing represents the biggest gap between the two metros, making it a key factor in the overall budget.
Housing
Both buying and renting are considerably more expensive in Denver. Median home prices show a substantial difference, and monthly rent for a one-bedroom apartment is also much higher in Denver. Salt Lake City offers more affordable options for both homeowners and renters. Housing stock in both cities includes a mix of older and newer construction, with a trend towards denser development in urban cores.
Taxes and everyday costs
Daily expenses for transportation, groceries, and healthcare are generally higher in Denver. Utilities are roughly similar, though slightly more in Denver. State income tax rates are very close, with Salt Lake City's being marginally higher. Commute times are somewhat longer in Denver, suggesting more time spent traveling. These factors combine to make routine spending more economical in Salt Lake City.
Lifestyle trade-offs
Denver, a larger metro, offers a more urbanized experience with extensive public transit options. Its climate is generally sunnier and drier, with four distinct seasons. Salt Lake City, while also a mountain city, has a slightly different climate, often experiencing more distinct seasonal temperature swings and snowfall. Both offer access to outdoor recreation, but Denver tends to feel more bustling.
Bottom line
For those considering a move, Salt Lake City generally presents a more budget-friendly option across most spending categories, particularly housing. While Denver offers a larger urban environment and different lifestyle amenities, the financial commitment for housing and everyday costs is substantially greater. A household's budget will stretch further in Salt Lake City, making it the more economical choice.
| Measure | Denver, CO | Salt Lake City, UT |
|---|---|---|
| Overall cost of living (US avg = 100) | 128 | 108 |
| Housing index | 146 | 127 |
| Transportation index | 104 | 89 |
| Food index | 105 | 98 |
| Healthcare index | 108 | 98 |
| Utilities index | 98 | 95 |
| Misc index | 108 | 95 |
| Median home price | $548,000 | $498,000 |
| Median 1-bedroom rent | $1,950/mo | $1,550/mo |
| Average commute | 28 min | 24 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Salt Lake City home with the True Cost Calculator.