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SALT LAKE CITY — New data confirms a trend many homebuyers in Utah are feeling. The Beehive State is among the least affordable places to buy a home in the entire nation.
It may come as no surprise that Hawaii was listed as the least affordable state in the country to buy a home, with California in second place.A Utahn's median annual income was discovered to be $63,065, which only accounts for 11.83% of the median price of a home, found to be $533,133. Although Utah prices may be high, that isn't necessarily deterring buyers from snatching up properties. Researchers found 9.81 homes sold per 1,000 people in Utah. That number is slightly below average, but higher than some states that were ranked more affordable, including New York and New Mexico.
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