People are discovering one of the hidden gems of the Intermountain West— Salt Lake City, Utah. Long-time residents of the state already know of its worthwhile qualities, but it is now becoming national news. Forbes reported late last year that “Utah’s economy is booming thanks to a combination of strong employment growth, a vibrant tech industry and collaboration between business, labor and government.”
Not only is Utah one of the fastest-growing states in the country thanks to a 1.9 percent population growth in one year, but it also has a median age of 30.5 years, making it the youngest state, as well.
Utah is one of the best places to find a job too. The U.S. Bureau of Labor Statistics data, as reported by Forbes, showed Utah ranking No. 1 for total job growth in the nation at a rate of 3.6%. Also, Utah ranked No. 1 for private-sector job growth at 4%. Unemployment was fairly low compared to the rest of the country ranking No. 5 at 2.8%, in a tie with Hawaii.
The 2020 Utah Economic Report to the Governor showed that over the years, Utah trended upward with a 3.0% long-term average for annual job growth.
Every year, the state is becoming more diverse with the University of Utah projecting an increase from the current 20 percent minority population share to 35 percent by 2065.
But what makes Salt Lake City such a great place to live comes down to more than just numbers.
As the state’s capital city, SLC is a melting pot of everything the state offers. The state college, the University of Utah, is a few minutes up the road from the State Capitol. Small businesses line the streets. Creativity comes in all shapes and sizes. The diversity of the people lends to new experiences and a variety of opinions. Salt Lake City is truly the heartbeat of the state, which is why so many people call it their new home.
If that doesn’t persuade you to take a second look at SLC, UT, here are four other reasons why you should.
Top Four Reasons Why You Should Move to Salt Lake City
Quality of Life
Salt Lake City received a 7.1 overall ranking (out of 10), with a 6.9 ranking in quality of life and a 6.9 ranking in the job market. Desirability to live in Utah also ranked high at 7.3, according to U.S. News and World Report. What makes the quality of life so high is the blend of attractions and entertainment options nearby.
Residents of Salt Lake City enjoy all of the perks that city life offers with natural amenities close-by. If you want to take a hike, there are thousands right outside of the city. You also have access to some of the world’s best ski resorts, including Park City Mountain Resort, Deer Valley, Brighton, Snowbird, and Alta. Residents can take full advantage of these options, as well as mountain biking trails, running trails, rock climbing spots, lake activities, and more.
If the outdoorsy life isn’t for you, there are other options within city limits. Salt Lake City is home to the Utah Jazz with home games played at the Vivint Smart Home Arena. You can also visit bars, museums, restaurants, and child-friendly attractions like the Clark Planetarium, Discovery Gateway’s Children Museum, and The Leonardo Museum.
Low-Cost Living
Another perk of living in Salt Lake City is its lower cost. While home prices in the area may seem higher than the rest of the nation, compared with other metropolitan cities, it is fairly low. The cost of living in Salt Lake City is 49% less than San Francisco, 31% less than Los Angeles, 8% less than Denver, 44% less than Seattle, 18% lower than Dallas, and 57% less than New York City.
You can also find more inexpensive homes and rental units in neighboring cities and suburbs. Some residents choose to live up the road in Bountiful. Others go further down south to Sandy, Draper, South Jordan, Lehi, and Herriman. These areas are even closer to the state’s infamous Silicone Slopes, an emerging tech hub.
Booming Economy
As mentioned earlier, Utah’s economy is one of the strongest in the country. Along with a strong economic system, Utah is a great home for businesses and entrepreneurs. Silicon Slopes in Lehi, Utah, houses many new startups and tech conglomerates. These businesses bring with them new jobs and plenty of employment opportunities for Salt Lake City residents. For more proof of the state’s business-friendly record, take a look at a few of the accolades the state built-up over the past few years:
- Provo, UT #2 in Best Performing Cities (Milken Institute, 2020)
- SLC #2 of Best U.S. Cities for Starting a Business in 2020 (Inc., 2019)
- Utah #4 Overall for America’s Top States for Business 2019 (CNBC, 2019)
- SLC #10 Best Startup Ecosystem in the U.S. (Business Facilities, 2019)
- Utah #1 State for Entrepreneurs (Forbes, 2019)
Easy Transportation
Although Salt Lake City residents report using cars as their main means of transportation, the city provides other mass transit options. You can hop aboard one of the Utah Transit Authority’s light rail trains or buses seven days a week, except for some holidays.
Another option is the Frontrunner train, which runs a total of 89 miles, including Salt Lake City. TRAX covers a sizable area of the Salt Lake Valley, including stops at the Salt Lake City International Airport and downtown Salt Lake City.
Green Bike SLC is a non-profit bike share organization that provides residents and visitors with bike rental options throughout the city.
Make Utah Your Home with Woodley Real Estate
Whether you are an individual moving to Utah, or an HR professional looking for a partner to help recruit top talent, we’ve been making relocating to Utah successful for almost 20 years. Our full-service real estate firm partners with large and small companies, and individuals looking to purchase a luxury home, land, starter home, and everything in between. Our comprehensive Utah real estate services allow our clients to focus on the critical work of growing their business while we take care of the details of their real estate needs.
Contact Woodley Real Estate today to learn more.
