<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=3OQVjM_0wPFGUrj00" alt="https://img.particlenews.com/image.php?url=3OQVjM_0wPFGUrj00" width="980" height="653" ><figcaption>Dr. T</figcaption></figure>You don't have to be told that it's costing more to live these days. We were talking about our budget at home the other night, and just about everything was more expensive. Going to the grocery store is almost becoming frightening.One of the biggest contributors to the rising cost of living is housing. Home prices in Utah have skyrocketed, with median home prices in areas like Salt Lake City increasing dramatically over the past decade. Many residents have found it challenging to afford homes, prompting a shift toward renting. However, rental rates have also risen.In addition to housing, the cost of goods and services in Utah has seen an upward trend. Inflationary pressures and supply chain disruptions have led to higher prices for groceries, healthcare, and transportation. I actually got gas at $3.29 a gallon the other day in Cedar City and thought I was getting quite a deal, until I remembered it wasn't that terribly long ago that gas was under $3.00.<figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=0RyW6e_0wPFGUrj00" alt="https://img.particlenews.com/image.php?url=0RyW6e_0wPFGUrj00" width="1600" height="1067" ><figcaption>Canva</figcaption></figure>According to the U.S. Census Bureau, the Median Household Income in Utah is $93,421. According to The Ascent, the the average household in the United States spends $77,280 annually on expenses. This report says our cost of living index in Utah is 101.5% of the national baseline so our cost of living in Utah would be $78,439. (One side note here according to this report from Sofi.com, Cedar City has the lowest cost of living in Utah.)But, of course, not all of us are making that kind of money. It doesn't take a lot of effort to see people struggling to get through on a day to day basis, and increases in prices aren't helping.But there's also the other side of the coin. There are those who have quite comfortable incomes in the Beehive state. Have you ever heard of those living in the top 1 percent? Have your ever wondered what it would take to be in the top 1 percent in Utah?<figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=0GCMv6_0wPFGUrj00" alt="https://img.particlenews.com/image.php?url=0GCMv6_0wPFGUrj00" width="1600" height="1067" ><figcaption>Canva</figcaption></figure>Well, the folks at Go Banking Rates have the answer for you. In Utah, you have to make a little more than $811,920 annually to be in the top 1 percent. Utah has the 11th highest income threshold in the U.S. to be in that group.For those in the top 1 percent, life in Utah comes with various benefits. These individuals often have access to luxury homes in sought-after areas, such as the affluent neighborhoods of Salt Lake City, Park City, and Alpine. Park City, in particular, is known for its multimillion-dollar estates, ski-in-ski-out mansions, and proximity to world-class ski resorts, which attract both local elites and wealthy out-of-state buyers.<figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=3obecD_0wPFGUrj00" alt="https://img.particlenews.com/image.php?url=3obecD_0wPFGUrj00" width="1600" height="1067" ><figcaption>Canva</figcaption></figure>Connecticut, by the way, has the highest top 1% threshold at $1,192,947 annual income.I also looked at the top ten occupations for earning wages here in Utah. I didn't see “guy who talks on the radio” listed so I don't think I'll be joining the 1 percent club anytime soon.<h2>How To Save: 10 Items That Frugal People Never Purchase When Shopping</h2>If you are trying to stick to a budget and put a little away for relaxation in retirement, Finance Buzz says that frugal people will never buy these 10 items in our gallery.</div></body>

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Want To Be In The Top 1% In Utah? Here’s What It Will Cost

You don't have to be told that it's costing more to live these days. We were talking about our budget at home the other night, and just about everything was more expensive. Going to the grocery store is almost becoming frightening. One of the biggest contributors to the rising cost...