Utah

Analysis of state-to-state migration patterns and economic data for Utah, focusing on the 2022–2023 tax filing years.

Overview

• Net gain of 3,021 tax-filing households and 1,039 individuals between 2022 and 2023.
• Net inflow of $460.2M in adjusted gross income (AGI) against a population of approximately 3.4 million.
• Largest inflow of households from California (7,916), largest outflow to California (4,787).

Key Statistics

• Cost of living: 4% below the U.S. average (index: 96).
• Median home value: $455,000 (national median: $303,400).
• Home price appreciation (5 years): +63.1%.
• Median rent: $1,405/month (national: $1,348).
• Homeownership rate: 71% (national: 65%).
• Unemployment rate (2023): 2.7% (national: 3.6%).
• Median household income: $91,750 (national: $78,538).
• Median age: 31.7 years (national: 38.7).

Migration Data

• Net AGI gain: +$460.2M (nominal).
• Gross AGI moved in: $3.7B.
• Gross AGI moved out: $3.3B.
• Net migration rate: +0.3 people per 1,000 residents.

Top Origin and Destination States

Top origin states (households moving to Utah):

• California: 7,916 households, $813.2M AGI.
• Idaho: 3,531 households, $186.5M AGI.
• Texas: 3,308 households, $266M AGI.
• Arizona: 3,239 households, $208.6M AGI.
• Nevada: 2,790 households, $190.7M AGI.

Top destination states (households leaving Utah):

• California: 4,787 households, $363.9M AGI.
• Texas: 3,597 households, $291.4M AGI.
• Arizona: 3,210 households, $245.9M AGI.
• Idaho: 3,137 households, $201.6M AGI.
• Nevada: 2,473 households, $203.3M AGI.

Historical Migration Trends

Net AGI and net people by year (nominal dollars):

• 2012: +$135.8M AGI, -4,137 people.
• 2013: +$228.5M AGI, -1,422 people.
• 2014: +$205.4M AGI, -2,730 people.
• 2015: +$85.9M AGI, +1,399 people.
• 2016: +$602.7M AGI, +10,216 people.
• 2017: +$688.4M AGI, +12,206 people.
• 2018: +$637M AGI, +7,583 people.
• 2019: +$692M AGI, +6,330 people.
• 2020: +$1.3B AGI, +17,309 people.
• 2021: +$1.6B AGI, +13,073 people.
• 2022: +$1.1B AGI, +168 people.
• 2023: +$460.2M AGI, +1,039 people.

Cumulative net migration (2012–2023): +$7.7B AGI, +61,034 people.

Demographics

• Median age: 31.7 years.
• Median household income: $91,750 (17% above U.S. median).
• College degree (adults 25+): 37%.
• Poverty rate: 8.6%.
• Average commute: 22 minutes.
• Broadband at home: 93% of households.
• Race and ethnicity:
  • White: 76%
  • Hispanic: 15%
  • Black: 1%
  • Asian: 2%
  • Other: 6%

Housing

• Median home value: $455,000 (50% above U.S. median).
• Median rent: $1,405/month (4% above U.S. median).
• Homeownership rate: 71%.
• Home-price appreciation (past year): +0.6%.
• Home-price appreciation (past 5 years): +63%.
• New home construction (2023): 25,361 units authorized (59% single-family, 41% multifamily).

Economy and Labor

• Unemployment rate (2023): 2.7%.
• Labor force: 1,797,645 (1,748,673 employed).
• Disaster declarations (2023): 1 major federal (most common: flood).

Migration by Income Bracket

Net migration of tax-filing households by AGI (2022–2023):

• $1–$10k: +1,468 households, +$8M AGI.
• $10k–$25k: +1,484 households, +$24M AGI.
• $25k–$50k: +773 households, +$25M AGI.
• $50k–$75k: -417 households, -$27.4M AGI.
• $75k–$100k: -376 households, -$32.8M AGI.
• $100k–$200k: -467 households, -$61.6M AGI.
• $200k+: +576 households, +$525.5M AGI.

Goods Trade

• Total goods shipped to other states (2022): $149.6B (+85% since 2017).
• Total goods received from other states (2022): $83.2B (+10% since 2017).
• Net trade balance: +$66.5B.

Top goods shipped out:

• Pharmaceutical products: $15.2B.
• Gasoline and aviation turbine fuel: $14.4B.
• Electronic and electrical equipment: $12.7B.
• Motorized vehicles and parts: $11.9B.
• Precision instruments: $11.0B.

Top goods received:

• Electronic and electrical equipment: $13.0B.
• Motorized vehicles and parts: $10.6B.
• Pharmaceutical products: $9.2B.
• Prepared foodstuffs and fats/oils: $8.6B.
• Miscellaneous manufactured products: $6.7B.

Biggest trading partners (2022):

• California: $35.5B shipped, $17.9B received, +$17.5B net.
• Idaho: $20.8B shipped, $4.4B received, +$16.3B net.
• Texas: $9.0B shipped, $5.6B received, +$3.3B net.
• Colorado: $8.4B shipped, $6.0B received, +$2.4B net.
• Nevada: $12.3B shipped (data for received not published).