New York vs Salt Lake City: cost of living compared
Salt Lake City is 42% cheaper than New York overall. State income tax tops out around 4.65% in UT vs 6.5% in NY.
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
Moving from New York to Salt Lake City represents a substantial shift in overall cost of living. New York is significantly more expensive than Salt Lake City, with its cost index being much higher than the national average, while Salt Lake City is only slightly above it. This considerable difference is primarily driven by housing expenses, which are dramatically higher in New York, influencing the entire budget.
Housing
Housing costs present the most striking difference. Both buying a home and renting a one-bedroom apartment are considerably more expensive in New York than in Salt Lake City. New York's housing stock often features dense, multi-unit buildings, while Salt Lake City offers a broader mix, including more single-family homes. Property taxes and insurance, while varying, contribute to the overall higher burden in New York.
Taxes and everyday costs
Daily expenses are consistently lower in Salt Lake City. Food, healthcare, and utilities are all noticeably cheaper there compared to New York. Transportation costs are also much lower in Salt Lake City, reflecting a different urban structure. State income tax rates are higher in New York, further contributing to a larger portion of income going towards taxes there.
Lifestyle trade-offs
Beyond costs, lifestyle differences are pronounced. New York is known for its dense, fast-paced urban environment with extensive public transit and a humid continental climate. Salt Lake City offers a more relaxed pace, a high-desert climate with four distinct seasons, and a greater reliance on personal vehicles, though public transit options exist. Commute times are also considerably longer in New York.
Bottom line
A move from New York to Salt Lake City would likely result in substantial savings across nearly all budget categories. The most significant financial relief would come from housing, but everyday expenses like food, transportation, and utilities are also much more affordable. This allows for a different allocation of household income, potentially freeing up resources despite the change in urban environment and pace.
| Measure | New York, NY | Salt Lake City, UT |
|---|---|---|
| Overall cost of living (US avg = 100) | 187 | 108 |
| Housing index | 200 | 127 |
| Transportation index | 171 | 89 |
| Food index | 118 | 98 |
| Healthcare index | 122 | 98 |
| Utilities index | 115 | 95 |
| Misc index | 125 | 95 |
| Median home price | $685,000 | $498,000 |
| Median 1-bedroom rent | $3,200/mo | $1,550/mo |
| Average commute | 47 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.