Summit and Wasatch counties are Utah’s most expensive housing markets, according to a new report from the Kem C. Gardner Policy Institute.
Utah ranks as the 10th most expensive state in the nation for single-family homes, with a median sales price of $559,900. Summit and Wasatch counties surpassed that number dramatically, with median sales prices of $2.2 million and $1.2 million, respectively, in the first quarter of 2026.
Summit County saw a 5% decrease in median single-family home sales price from the first quarter of 2025 to the first quarter of 2026. Wasatch County, however, saw a 21.8% increase in the same time period.
The Kem C. Gardner Policy Institute reported that homeownership has fallen to “near historical lows,” though Utah’s homeownership rate continues to exceed the national average. In 2025, 68.2% of Utah households owned their home compared to 69.9% a decade ago.
The report indicates that Utah’s housing demand will likely persist with the state’s growing population. Utah will need approximately 61,500 new owner and renter units targeting households ages 35 and younger, about 120,000 units for those aged 35 to 64 and another 98,000 for those 65 and older.
Summit County Economic Development Director Jeff Jones said he’s not surprised by findings in the Policy Institute’s Report.
In terms of homeownership, Jones said Summit County has significant challenges.
“Different groups need different kinds of housing,” Jones said.
Workforce populations and seniors have varying needs, Jones said, but there are also transitional and emergency housing needs. He cited the Cline Dahle project and others as examples of development that can help.
Cline Dahle is Columbus Pacific Development’s vision for affordable housing on about 30 acres of land in Jeremy Ranch. It’s a public-private partnership with the county, and developers pitched deed-restricted projects with a mix of units between 0% and 150% of the AMI, or area median income.
Research for the project began in 2024, and implementation was scheduled for June 2025.
“There’s no single solution that will move the needle without continued partnership,” Jones said.
The Policy Institute findings are in line with research Jones has collected over the years.
Jones also revealed a breakdown of Summit County’s median housing prices by zip code. Park City saw a median housing price of $3.3 million in August 2026. Echo and Henefer had the lowest median housing prices in the county at $360,000 and $699,950, respectively.
For every unit size, the maximum affordable rent reaches market parity at a lower AMI level than the maximum affordable sale price, according to Jones’ findings.
The Policy Institute found 486 permitted residential units in Summit County and 959 in Wasatch County.
Jeffrey Bradshaw is the executive director of the Wasatch County Housing Authority, which supports Wasatch County residents looking to purchase a home. The group created a down-payment assistance fund to help qualified homebuyers obtain housing and supports nonprofit organizations working to help citizens afford housing.
Like Jones, Bradshaw said the Policy Institute findings seemed in line with what he is seeing on the ground in Wasatch County.
“It’s real expensive to build on the Wasatch Back, and folks can’t afford to buy homes,” Bradshaw said.
He said there has been a sharp decrease in the number of down-payment assistance loans issued by the Wasatch County Housing Authority. Those loans sit at 2% interest for about 30 years. Bradshaw said it’s a good deal, but lately, it hasn’t been enough.
“We haven’t made hardly any lately because the cost of housing is so high that down-payment assistance loans aren’t enough to help out,” Bradshaw said.
To be specific, Bradshaw said that means just one over the past month. Those loans top out at about $30,000. With that one loan, Bradshaw said the board made an exception to grant the assistance to a couple making just over 80% of the area median income.
The median household income in Summit County is $138,114, and in Wasatch County it’s $117,608. To afford a median-priced home with a 10% down payment, households in Summit County need an annual income of $427,300, and those in Wasatch need $304,900.
But Bradshaw has not given up hope because there are programs that help, including rent-to-own opportunities and partnerships with groups like the Mountainlands Community Housing Trust.
That organization gives applicants the opportunity to purchase deed-restricted homes. Buyers also put in sweat equity, helping to build the homes they will eventually own.
He said the Wasatch County Housing Authority is also looking to hire a full-time executive director (Bradshaw is not full-time) who can implement new homebuyer assistance programs.
Partnerships, Bradshaw said, are crucial. That’s especially true when the county or organizations like the Wasatch County Housing Authority work with developers.
“The biggest challenge is being able to get them built somewhat affordable without it being too big of a subsidy,” Bradshaw said. “That’s the tough part.”
Building new homes in Wasatch County is a balancing act, Bradshaw said.
“Developers realize they have to participate in it, but they’re out to make a living, too,” Bradshaw said.
Despite rising costs and population, Bradshaw said organizations that help homebuyers in Wasatch County are heading in the right direction.
“We’re here to try to help folks find places to live that they can afford,” Bradshaw said.