Utah
New report outlines trends shaping a ‘new Utah’
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SALT LAKE CITY — New research shows how six significant economic and demographic transitions are shaping a “new Utah” and what the future of the Beehive State could look like.
“Utahns entrust those in public service with the responsibility to keep Utah strong and flourishing. Utah leaders’ guidance of the ‘new Utah’ will determine the state’s future success,” said a report from the Kem C. Gardner Policy Institute released Monday.
The research shows how Utah has changed and presents ideas on what Utah leaders can do to ensure Utah remains a thriving state with positive economic and social outcomes. The report outlines six significant transitions — all associated with growth, change and “deeply interconnected” — that represent the new Utah.
More populous state
Since 2010, Utah has grown from a small-sized state to a medium-sized state.
Between 2010 and 2020, Utah leap-frogged four states — Iowa, Arkansas, Mississippi, and Nebraska — with research suggesting Utah’s population will continue to grow.
While population growth is not a new phenomenon for the state, “what is new is a critical mass of people creating new opportunities and also bumping up against various constraints. Many ask how we can continue to grow and still maintain the attributes we love about Utah,” the report says.
External growth and fertility
Data from the Kem C. Gardner Policy Institute shows Utah has gained more population from external growth like in-migration than it has from internal growth (births minus deaths) over the past two years.
With Utah’s fertility rate declining or holding steady for 14 consecutive years, migration is expected to outpace internal growth “for the foreseeable future,” according to the report.
Older population
From 1980 to 2020, Utah’s median age increased from 24.2 to 31.3, according to the Kem C. Gardner Policy Institute.
“We expect this aging trend to continue for the foreseeable future, with even greater impacts in the coming decades,” said the report.
Increasing diversity
Over the past few decades, Utah has become increasingly multicultural.
Data from the report shows that today, nearly one in four Utahns is a racial minority or ethnic minority — a sharp uptick compared to the 9.5% of Utahns that were a racial or ethnic minority in 1990.
Thriving economy
While traditionally home to a stronger economy, Utah has jumped into elite status relative to other states. An example of this is Utah’s job growth consistently ranking at or near the top of all states.
“We expect the Utah economy to continue to be among the best-performing economies in the nation,” the report says.
Housing market
Recent years have seen home prices in Utah skyrocket to levels well above the nation’s average, with the housing supply failing to match the demand.
“Unless Utah significantly increases its housing supply, we expect high housing costs to continue for the foreseeable future, presenting a significant challenge to Utah’s economic competitiveness and rising generation,” the report states.
This story will be updated.