C
17%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
51%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Woods Cross Utah National
Cost of living117104100
Goods & Services106102100
Groceries10099100
Health care9691100
Housing151114100
Transportation110105100
Utilities9495100

An Overview of Cost of Living in Woods Cross, UT

Are you thinking about relocating, but curious about the potential cost of living in Woods Cross? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Woods Cross stands at 117, making it 17% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Housing costs significantly influence the Woods Cross cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 50.9%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Woods Cross Affordable?

Is Woods Cross an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Woods Cross is 62.2% higher than the national average, while the average monthly rent prices are 24.8% higher than average. The affordability of any location can also be influenced by median income levels. Woods Cross has a median household income of $85,453, which is 54.5% higher than the national average.

What Factors can Influence the Cost of Living in Woods Cross?

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Woods Cross, the transportation index is 10% higher than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Woods Cross, the general sales tax rate starts at 6.1%, and income tax rates begin at 4.85%.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Where is the Data From?

The cost of living data in Woods Cross displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Woods Cross is 13% higher than the Utah average
  • The cost of living in Woods Cross is 17% higher than the national average
  • Woods Cross housing is 51% higher than the national average
  • Utah general sales tax is 20% higher than the national average
  • Utah state income tax is 87% higher than the national average

Most Affordable Places to Live in and Around Woods Cross

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Compare Woods Cross, UT Cost of Living

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      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$96,484$8,040$2,251$2,895
      Renters$64,875$5,406$1,514$1,946
      A good way to judge both the affordability of the housing and the cost of living in Woods Cross is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Woods Cross has a median income of about $96,484 for people who own homes. Based on that number, a maximum of $2,251 should be spent on expenses related to housing. Renters have a slightly different median income, which is $64,875. Based on this average, renters should spend no more than $1,514 on all rental costs if they want to maintain a non-impoverished standard of living.

      Utah Sales Tax

      State General Sales Tax With Max Surtax
      Utah 6.1% 8.35%

      Utah Income Tax

      State Income Tax (Low) Income Tax (High)
      Utah 4.85% 4.85%

      Goods & Services

      Item Woods Cross National avg. Difference
      Haircut $20.87$24.2614.0%
      Beauty Salon $50.33$45.5610.5%
      Toothpaste $3.57$3.703.6%
      Shampoo $1.18$1.288.1%
      Movie $9.94$12.1318.1%
      Bowling $19.80$18.0010.0%

      Groceries

      Item Woods Cross National avg. Difference
      Ground Beef $5.76$5.841.3%
      Fried Chicken $1.51$1.574.2%
      Milk $4.65$4.670.4%
      Potatoes $4.60$4.936.7%
      Pizza $11.69$12.093.3%
      Beer $10.59$10.411.7%

      Health Care

      Item Woods Cross National avg. Difference
      Optometrist $125.19$125.680.4%
      Doctor $117.14$135.7813.7%
      Dentist $85.13$113.2924.9%
      Ibuprofen $10.89$10.652.3%
      Lipitor $528.57$468.6012.8%

      Housing

      Item Woods Cross National avg. Difference
      Home Price $299,500.00$184,700.0062.2%
      Avg. Mortgage Payment $3,117.82$2,346.6932.9%
      Apartment Rent $1,184.00$949.0024.8%

      Transportation

      Item Woods Cross National avg. Difference
      Gasoline $3.75$3.468.3%
      Tire Balancing $57.07$59.924.8%

      Utilities

      Item Woods Cross National avg. Difference
      All Electricity $198.43$193.992.3%
      Phone $192.11$192.250.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Magna, UT27,0291098.8%
      South Salt Lake, UT25,1251109.6%
      West Valley City, UT135,61011110.9%
      Taylorsville, UT59,92611312.8%
      Layton, UT77,26811212.1%
      Woods Cross, UT11,42311717.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Roma, TX11,4277623.9%
      Urbana, OH11,4288911.3%
      Selkirk, MB11,428n/a 
      Lawrenceburg, KY11,416937.4%
      Signal Hill, CA11,43015656.2%
      Woods Cross, UT11,42311717.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.