Cost of Living in Parowan, UT

With a cost of living index of 88, Parowan, UT is a very affordable place to live. Living here is 12% cheaper than the national average and 19% below the Utah state average of 108. Parowan is a small community of 3,095 residents.

Housing costs are the biggest factor in Parowan's cost of living. The median monthly rent is $997 (24% below the US median of $1,319), and the median home value sits at $299,800 (2% below the national median of $304,900). At current prices, the median home costs roughly 6x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Parowan is $49,934, which is 34% lower than the national median of $75,149. Residents spend roughly 24% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.