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Affordable
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These days, finding an affordable place to live in the Summit area can be challenging. Home prices in Summit are now at a median cost of $459,648, lower than the Utah average of $525,914.
The average cost of rent is $1,220/mo in Summit, primarily driven by the current value of real estate in the Summit area. In Summit, 13.58% of households rent, and 38.02% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Summit is $7,017 per month. Households that rent pay about 17.39% of their income on rent here. Summit’s most expensive areas are in the southeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Enoch, UT: less expensive homes
- Parowan, UT: less expensive homes
- Cedar City, UT: less expensive homes
- Brian Head, UT: higher priced homes
- Pintura, UT: less expensive homes
- Paragonah, UT: less expensive homes
- Lund, UT: equally priced homes
- Panguitch, UT: less expensive homes
- Hatch, UT: less expensive homes
- Newcastle, UT: less expensive homes
Cities with Similar Populations
- Snelling, SC: less expensive homes
- Howard, KS: less expensive homes
- Hyattsville, KY: less expensive homes
- Indianola, NE: less expensive homes
- Institute, WI: less expensive homes
- Ira, VA: less expensive homes
- Lomax Crossroads, TN: less expensive homes
- Seal Cove, ME: less expensive homes
- Silvertop, TN: less expensive homes
- Smith, NV: higher priced homes
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