The 2020 Census and What it Says About Utah

It's no secret that Utah is growing rapidly. The 2020 census confirms that. In fact, Utah was the fastest growing state in the country, with an 18.4% population increase between 2010 to 2020. Idaho took second with an increase of 17.3%.

Photo by Enayet Raheem on Unsplash

Of course, it should be noted that small states have an advantage when we talk percentages. It is easier to move the percentage needle when you are a smaller State. For example, Utah's population grew by about a half million people during the 2010 to 2020 period, while California grew by about 2.5 million people during that same period. Even so, California had one of the lower growths rates as a percentage. California's total population is approaching thirty million, while Utah's population is about 3.3 million.

When looking at the growth of all metro areas, the Villages in Florida came in first, while St. George came in third and Heber City came in fifth. Phoenix was the fastest growing larger city.

In Utah, from a county perspective, Wasatch County grew the fastest at about 48%, followed by Washington County at 30%. Again, smaller cities tend to grow faster on a percentage basis. The Wasatch Front saw the largest population increase in total numbers of people, with Salt Lake county gaining about 156,000 people (15%), Utah county gaining about 143,000 people (28%), Davis county gaining about 363,000 people (18%) and Weber county gaining about $300,000 people (15%).

Several rural counties in the center of Utah and Southeast – places like Wayne, Emery, Carbon and San Juan, saw their small populations decline even further.

Although Utah's population is aging, like the rest of the country, it still has the youngest population in the country. Once again, Idaho comes in second in this category.

Utah remains one of the “whitest” states but is becoming more diverse. Minorities represented about 20% of the state in 2010, compared to 25% in 2020. Hispanics are by far the largest minority in Utah.

So, what does all this have to do with the housing market? The bottom line is that a young, rapidly growing population, by births and in-migration, is good for the housing market and property values. Even with all the building that is going on, some estimates are that we still have an under supply of 50,000 rentals and homes for sale. The way things are going though, I could see things stabilizing over the next couple years.

- Jeff Jorgensen

Sources: Salt Lake Tribune and 2020 Census