Silver Summit, UT
Population 1,574 · Utah
About Silver Summit, UT
Silver Summit is a small town located in Utah with a population of 1,574 residents according to the latest US Census Bureau American Community Survey data. The median household income is $235,329 per year, which is 213% above the national median of $75,149. The median age of 43.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Silver Summit features a median home value of $2,000,001, which is 717% above the national median of $244,900. This places Silver Summit in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,697, 132% above the national average of $1,163/month. Of the 620 total housing units, 90% are owner-occupied (500 units) and 10% are renter-occupied (53 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Silver Summit shows an unemployment rate of 8.4%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 5.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Silver Summit have an average one-way commute time of 26.7 minutes.
Education & Demographics
75.5% of Silver Summit residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.4% White, 2.7% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 3.0% of the population being foreign-born.
How Silver Summit Ranks in Utah
Cost of Living in Silver Summit, UT
Compared to national averages, Silver Summit has a median household income of $235,329 (213% above the national median of $75,149). Home values average $2,000,001, which is 717% above the national median. Monthly rent at $2,697 is 132% above the US average of $1,163. Within Utah, Silver Summit's income is 165% above the state average of $88,715, and home values are 369% above the state median of $426,386.
Why Live in Silver Summit, UT?
Silver Summit offers a strong local economy with a median household income of $235,329, well above the national average, and a well-educated community where 75.5% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.2%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $2,000,001. However, Silver Summit’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Silver Summit has a population of 1,574 with a median age of 43.3 years. Compare Silver Summit with other cities to see how it stacks up, or explore all cities in Utah.
Similar Cities Near Silver Summit
Cities in Utah with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Wolf Creek | 1,599 | $162,708 | $699,500 | Compare |
| Enterprise | 1,543 | $72,407 | $311,700 | Compare |
| Fountain Green | 1,539 | $70,402 | $321,000 | Compare |
| Wellington | 1,526 | $58,807 | $173,100 | Compare |
| Mantua | 1,642 | $134,239 | $570,000 | Compare |
| Elwood | 1,643 | $99,375 | $480,100 | Compare |
| Mona | 1,647 | $91,552 | $418,900 | Compare |
| Ballard | 1,648 | $81,250 | $241,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Utah
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Silver Summit With Other Cities
Frequently Asked Questions about Silver Summit
What is the population of Silver Summit, UT?
The population of Silver Summit, UT is 1,574 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Utah.
What is the median household income in Silver Summit?
The median household income in Silver Summit, UT is $235,329 per year, which is 213% above the national median of $75,149.
What is the median home value in Silver Summit?
The median home value in Silver Summit, UT is $2,000,001, which is 717% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Silver Summit?
The median monthly rent in Silver Summit, UT is $2,697, which is 132% above the national average of $1,163/month.
What is the unemployment rate in Silver Summit?
The unemployment rate in Silver Summit, UT is 8.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Silver Summit, UT a good place to live?
Silver Summit offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 1,574 and a median age of 43.3, the city appeals to a broad range of residents.
How educated is Silver Summit, UT?
75.5% of residents in Silver Summit aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Silver Summit?
Key cost-of-living indicators for Silver Summit, UT: median home value is $2,000,001 (717% above national), median rent is $2,697/month, and median household income is $235,329. The home-value-to-income ratio is 8.5x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Silver Summit?
The poverty rate in Silver Summit, UT is 5.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Silver Summit, UT?
Silver Summit's population is 0.4% White, 2.7% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 3.0% of residents are foreign-born.