DID YOU KNOW?

If you had moved from Philadelphia, PA to Salt Lake City, UT in 2015, you would now have an additional $113,379 in cash and equity!

The math for this comparison:
Description Philadelphia, PA Salt Lake City, UT Difference
Property Value
Median Price 2015 217 725 279 114 61 389
Median Price 2023 344 398 531 033 186 635
Increase in Equity 126 673 251 919 125 246
Income & Expenses
Median Household Income1 80 007 81 307 1 300
Cost of living factor 103,40 105,90
Avg Household annual expenses
(US Avg 61,334 x Cost of Living Index/100) 		75 448 77 272 (1 824)
Tax Burden as a percent of median income (different from tax rate)
Income Tax Burden 2,32% 2,20%
Property Tax Burden 2,71% 2,34%
Sales Tax Burden 2,92% 3,54%
Total Tax Burden $
(Income Tax % x Median HH Income) +
(Property Tax % x Avg Property Value) +
(Salex Tax % x Annual Expenses) 		11 676 12 635 (959)
Total Property Difference 125 246
Annual Income & Expense Difference (1 483)
Total Income & Expense Difference (Annual x Numbers of Years) (11 867)
Total Difference From 2015 113 379
The assumptions:
  1. Median household income in each location
  2. Median property price in each location
  3. Average US household annual expenses
  4. Tax burden based on percent of median income, not simply tax rate