Summit, UT

Summit is a small town located in the Wasatch Mountains of Utah. The population is just over 10,000 people and the median household income is just over $100,000. Summit has a number of attractions that make it a desirable place to live, including world-renowned ski resorts like Deer Valley and Park City, as well as numerous golf courses.

Real estate in Summit is very expensive compared to other areas of the country. The average home price in Summit was $569,500 in 2016, which was more than double the national average of $236,200. However, there are a number of reasons why Summit real estate remains so expensive. First and foremost, Summit is located in one of the most desirable areas in the country and there are limited options for housing available. Secondly, many residents are wealthy enough to afford high prices without having to compromise on quality or amenities. Finally, Summit has a strong economy that continues to grow steadily despite recent economic challenges elsewhere in the country.