Quick facts: Spanish fork, UT

Quick Facts

105.9
Cost of Living
above US average
44,102
Population
11.13
Crime Rate per 1000
below US average
$93,989
Median Income
above US average
$660,000
Median House Price
above US average
$1910.55
Average Rent
above US average
6%
Poverty Rate
below US average
3.8%
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 $93,989.

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Income Needed to Buy

βœ— Stretch
$207k/year
Based on $660,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $207k vs median $93,989
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Income Needed to Rent

βœ“ Affordable
$82k/year
Based on $1910.55/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($93,989) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Spanish fork, UT

Spanish Fork is a charming city located in Utah County, nestled in the picturesque region of Utah Valley. With a population of around 40,000 residents, it combines the warmth of a small town with the amenities of a larger city. Spanish Fork is known for its stunning natural beauty, with the Wasatch Mountains to the east and vast open spaces that contribute to its scenic landscape. The city features a variety of parks, recreational areas, and a community-focused atmosphere, making it ideal for families and outdoor enthusiasts. Popular activities include hiking, biking, and visiting local festivals, such as the Spanish Fork Fiesta Days, which celebrates the city’s heritage with parades, rodeos, and live entertainment. The local economy is diverse, with a mix of agriculture, retail, and growing tech sectors. Spanish Fork is also home to several schools and educational institutions, contributing to a strong community spirit focused on family and education. With its strategic location along Interstate 15, residents enjoy easy access to nearby Provo and Salt Lake City, enhancing both travel and job opportunities.

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