Cost of Living in Wales, UT

With a cost of living index of 87, Wales, UT is a very affordable place to live. Living here is 13% cheaper than the national average and 20% below the Utah state average of 108. Wales is a small community of 345 residents.

Housing costs are the biggest factor in Wales's cost of living. The median monthly rent is $853 (35% below the US median of $1,319), and the median home value sits at $340,600 (12% above the national median of $304,900). At current prices, the median home costs roughly 4.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Wales is $75,625, which is 1% higher than the national median of $75,149. Residents spend roughly 14% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.