Magna metro, UT

Above Avg · 111

Utah · Population 29,488 · Updated March 2026

$1,623
Median Rent / Month
$87,516
Median Income
$341,400
Median Home Value
$1,523
Owner Costs / Month

Affordability

How far your income goes in Magna metro

22.3%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Utah

State-level tax rates that affect your costs

4.65%
Income Tax (Top Rate)
6.1%
Sales Tax
0.58%
Property Tax Rate

Estimated Annual Costs

$19,476
Annual Rent
$4,069
State Income Tax
$1,980
Property Tax (est.)

Cost of Living Overview

Magna metro is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 111 (where 100 equals the national median), Magna metro residents can expect to pay median rent of $1,623/month while earning a median household income of $87,516/year.

The median home value in Magna metro, UT is $341,400, with typical monthly owner costs around $1,523 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.3% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Utah has a moderate income tax rate of 4.65%. Combined with a 6.1% sales tax rate and 0.58% effective property tax rate, the overall tax environment is a factor in the total cost of living in Magna metro.

Frequently Asked Questions

Common questions about living costs in Magna metro

What is the cost of living in Magna metro, UT?
The cost of living index in Magna metro, UT is 111 (US average = 100). Median monthly rent is $1,623, median household income is $87,516/year, and the median home value is $341,400.
Is Magna metro, UT affordable?
No, Magna metro is more expensive than the national average with a cost index of 111. The rent-to-income ratio is 22.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Magna metro, UT?
The median gross rent in Magna metro, UT is $1,623 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $19,476.
What is the median household income in Magna metro?
The median household income in Magna metro, UT is $87,516 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Utah?
Utah has a top income tax rate of 4.65%, a sales tax of 6.1%, and an effective property tax rate of 0.58%.