Salary Needed to Live in Salt Lake City as a Retiree
A retired individual (65+) needs approximately $60,512/year to live comfortably in Salt Lake City, UT, including 5% savings.
Direct Answer
A retiree needs about $60,512/year to live comfortably in Salt Lake City, UT. The bare-minimum salary is $56,367/year, but the comfortable figure includes a 5% savings target and a monthly after-tax budget of $3,623.
The minimum scenario leaves about $3,429/mo after tax and no planned savings. The comfortable scenario uses $5,043/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$60,512
with 5% savings
Bare Minimum
$56,367
$4,697/mo gross, no savings buffer
Monthly Expenses
$3,429
6% below national avg
Detailed Monthly Budget for a Retiree in Salt Lake City
| Expense | Salt Lake City | Nat'l Avg | Diff |
|---|---|---|---|
| 1-2BR Senior-Friendly Rent | $1,061 | $1,448 | -27% |
| Groceries | $242 | $189 | +28% |
| Utilities | $166 | $183 | -9% |
| Transportation | $225 | $211 | +7% |
| Car Insurance | $181 | $215 | -16% |
| Health Insurance | $707 | $642 | +10% |
| Medicare Supplement | $220 | $200 | +10% |
| Prescription Drugs | $165 | $150 | +10% |
| Internet + Phone | $132 | $120 | +10% |
| Recreation & Social | $220 | $200 | +10% |
| Home Maintenance | $110 | $100 | +10% |
| Total Monthly | $3,429 | $3,658 | -6% |
How We Calculated the Salary
Monthly expenses:$3,429
Target savings (5%):$194/mo
Monthly after-tax needed:$3,623
Effective tax rate:27%
Gross annual salary needed:$60,512
What Drives the Salary Number?
Housing
$1,061
1-2BR Senior-Friendly rent is 31% of this monthly budget.
Taxes
27%
Estimated federal plus UT state tax reserve used to convert take-home needs into gross salary.
Savings target
5%
$194/mo is reserved for savings so the salary is not just break-even.
Local index
110/100
Salt Lake City is below the national baseline; the model adjusts baseline spending by local rent and cost data.
Compare Salary Needed in Nearby west Cities
Salary Planning Checklist
- Keep 1-2br senior-friendly housing near $1,061/mo or adjust the salary target upward.
- Budget $847/mo for persona-specific costs such as Medicare Supplement and Prescription Drugs.
- Use $56,367/year as the survival floor and $60,512/year as the healthier negotiation target.
Other Household Types in Salt Lake City
Related Pages
FAQ
What salary does a retiree need in Salt Lake City?
A retiree needs approximately $60,512/year ($5,043/month gross) to live comfortably in Salt Lake City with a 5% savings rate.
How much is rent for a retiree in Salt Lake City?
A 1-2br senior-friendly in Salt Lake City costs approximately $1,061/month, which is the largest single expense at 31% of the total budget.
Is Salt Lake City affordable for a retiree?
Yes, Salt Lake City is 6% more affordable than the national average for a retiree.