Cost of Living in Granite, UT

With a cost of living index of 165, Granite, UT is one of the most expensive cities in the United States. Living here is 65% more expensive than the national average and 57% above the Utah state average of 108. Granite is a small community of 813 residents.

Housing costs are the biggest factor in Granite's cost of living. The median monthly rent is $1,672 (27% above the US median of $1,319), and the median home value sits at $978,500 (221% above the national median of $304,900). At current prices, the median home costs roughly 9.8x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Granite is $99,375, which is 32% higher than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they do not fully offset the higher cost of living.

Everyday prices in the Salt Lake City-Murray, UT (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.