Economy in Park City, UT

Park City, UT is an affluent ski resort town located in the Wasatch Mountains of Utah. It is known as a world-class destination for outdoor activities and fine dining. The cost of living in Park City is slightly higher than the US average due to its popularity as a tourist destination. Rent for a two bedroom apartment averages around $2,600 per month, while the national average is only $1,430. Groceries are also more expensive here with a grocery cost index of 104 compared to 100 nationally. Popular local companies include Vail Resorts, Stein Eriksen Lodge Management Corporation and Park City Film Studios. With its vibrant culture and exciting recreational opportunities, Park City continues to be one of America’s premiere cities to live or visit.

Park City has an unemployment rate of 2.8%. The US average is 6.0%.

Park City has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 39.6%, which is higher than the US average of 33.5%.

Tax Rates for Park City
- The Sales Tax Rate for Park City is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Park City is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Park City
- The average income of a Park City resident is $62,125 a year. The US average is $28,555 a year.
- The Median household income of a Park City resident is $121,701 a year. The US average is $69,021 a year.