Draper homebuyers need to earn $259,641 a year to afford the city's median single-family home, the highest income threshold in Salt Lake County.

That figure comes from the Salt Lake Board of Realtors' Q2/Mid-Year 2026 Municipal Affordability Tracking Report, released Aug. 25. Draper's median single-family sale price hit $925,000 in the second quarter, putting the city at the top of the county's affordability rankings.

Countywide, the income needed to buy a median-priced home jumped 7.75% from the first quarter, climbing from $173,392 to $186,827. That is the highest countywide threshold in two years. The previous peak was $190,609 in the second quarter of 2024, when mortgage rates topped 7%.

The gap between what buyers need and what they earn is wide. The median household income in Salt Lake County is $97,494, according to the Deseret News. A home priced at about $301,000 would be considered affordable under the federal standard that housing costs should not exceed 30% of gross monthly income. The county's actual median is more than double that.

No city is exempt. Every municipality the report examined requires a six-figure household income to afford its median-priced home. The Deseret News reported that 16 municipalities were labeled "severely unaffordable."

West Valley City ranked as the county's most affordable market, requiring $148,470 in annual income for a $497,500 median home. That is still more than $111,000 less than what Draper buyers need.

Scott Colemere, president of the Salt Lake Board of Realtors, said in the report's Aug. 25 release that "expanding housing supply and creating more attainable paths to homeownership remain critical."

The report's calculations assume a 10% down payment, a 6.41% average mortgage rate for April through June and the median county property tax rate. They also factor in $1,581 in annual homeowners' insurance, 0.5% private mortgage insurance and $345.64 per month in utilities. Those figures do not include homeowners' association dues, city bonds or infrastructure district fees, meaning actual costs for some buyers could run higher.

Nearby cities also carry steep price tags. Holladay's median single-family home sold for $915,000, requiring $257,041 in income. Sandy came in at $720,000, requiring $206,331. South Jordan's median was $772,500, requiring $219,984.

The report warned that the third quarter of 2026 could push the threshold even higher if mortgage rates keep climbing. As of Aug. 26, Mortgage News Daily reported a 6.74% daily index rate, above the 6.41% average used in the report. A 1-percentage-point drop in rates would cut the countywide qualifying income by almost 8%, to just under $172,000.

Builders are offering mortgage-rate buydowns and rising inventory is giving buyers more options, according to the Salt Lake Board of Realtors. But a household earning the county median would need to nearly triple its income to afford Draper's typical home.