Quick facts: Draper, UT

Quick Facts

105.9
Cost of Living
above US average
50,731
Population
18.31
Crime Rate per 1000
below US average
$126,041
Median Income
above US average
$767,000
Median House Price
above US average
$2098.53
Average Rent
above US average
Poverty rate Data is updating, will be available soon
4.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $126,041.

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Income Needed to Buy

βœ— Stretch
$241k/year
Based on $767,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $241k vs median $126,041
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Income Needed to Rent

βœ“ Affordable
$90k/year
Based on $2098.53/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($126,041) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Draper, UT

Draper, Utah, is a vibrant city nestled in the picturesque foothills of the Wasatch Mountains, just south of Salt Lake City. Known for its stunning natural scenery, outdoor recreational opportunities, and family-friendly atmosphere, Draper boasts a blend of suburban charm and access to urban amenities. The city is home to a variety of parks, trails, and open spaces, ideal for hiking, biking, and enjoying the great outdoors. Draper has a rich history, originally founded as a farming community in the late 1800s. Today, it features a diverse population and a growing economy, with a mix of residential, commercial, and tech sector growth. The city is known for its excellent schools, making it a popular choice for families. With attractions such as the Draper Historic Park and the popular Corner Canyon Regional Park, residents can enjoy numerous recreational activities. Additionally, Draper is situated conveniently, providing easy access to both Salt Lake City and Provo, allowing residents and visitors to experience a wide range of cultural and entertainment options while enjoying the tranquility of suburban life.

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