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Mesa, Arizona, often referred to as a desert oasis, is a city full of possibilities. With its scenic desert landscapes, vibrant local culture, and close-knit neighborhoods, it’s easy to see why so many people are drawn to making Mesa their home. However, life in this Southwestern city comes with its own set of challenges. So whether you’re searching for a cozy apartment near Downtown Mesa or a spacious apartment in Dobson Ranch, you’ve come to the right place.

In this ApartmentGuide article, we’ll explore the various pros and cons of living in Mesa, helping you decide if this sun-soaked city is the right place for you.

Fast facts about living in Mesa

  • What Mesa is known for: Mesa is famous for its desert landscapes, Native American history, and as a hub for aerospace and technology
  • Fun fact: Mesa is home to the world’s largest relief sculpture, the 14-story “Monument to the San Pedro y San Pablo” at the Mesa Arizona Temple
  • Population: Over 500,000 residents in Mesa proper; over 4.5 million in the Phoenix metro area
  • Average rent: $1,385 per month for a one-bedroom apartment
  • Median home sale price: $477,000
  • Days of sunshine: Approximately 301 days per year
  • Public parks: More than 200 parks within the city
  • Average summer high temperature: 106°F (41°C)
  • Major industries: Aerospace, healthcare, education, and technology

1. Pro: Warm climate and abundant sunshine

One of the biggest draws of Mesa is its warm climate. With over 300 days of sunshine each year, residents can enjoy outdoor activities almost year-round. Whether you’re into hiking, golfing, or simply lounging by the pool, the sunny weather makes it easy to stay active and enjoy the natural beauty of the desert landscape. However, it’s important to note that summer temperatures can be extreme, often exceeding 100°F, which may take some getting used to for those unaccustomed to the heat.

2. Con: High summer temperatures

While the warm weather is a major advantage, the intense summer heat can be a significant drawback for some residents. During the peak summer months, temperatures in Mesa regularly soar above 100°F, sometimes reaching as high as 115°F. This extreme heat can make outdoor activities challenging and increase energy costs due to the need for constant air conditioning. For those who prefer milder climates, Mesa’s hot summers may be a dealbreaker.

3. Pro: Affordable cost of living

Mesa offers a relatively affordable cost of living compared to other major cities in the United States. Housing costs are particularly reasonable, with the median sale price for a home in Mesa around $477,000 and average rent for a one-bedroom apartment in Mesa at $1,385 per month. While overall living expenses are slightly above the national average, Mesa remains more affordable than other cities in the Phoenix metropolitan area, making it an attractive option for those looking to balance quality of life with affordability.

4. Con: Limited public transportation options

Mesa’s public transportation system, operated by Valley Metro, covers much of the metro area but lacks the frequency and coverage found in more urbanized cities. Many residents find it necessary to own a car, particularly if they live in suburban neighborhoods or need to commute to work. While the city is bike-friendly and has some walkable neighborhoods, the limited public transit options can be a drawback for those who prefer not to drive.

Mesa’s transportation scores

  • Walk score: 38
  • Transit score: 27
  • Bike score: 60

5. Pro: Growing job market in key sectors

Mesa has a growing and diverse job market, particularly in sectors such as aerospace, healthcare, education, and technology. The city is home to several major employers, including Boeing, Banner Health, and the Mesa Public Schools district, providing numerous employment opportunities for residents. Additionally, Mesa’s proximity to Phoenix allows residents to access a broader range of job opportunities within the larger metro area.

Top employers in Mesa

  • Boeing
  • Banner Health
  • Mesa Public Schools
  • Arizona State University Polytechnic Campus
  • Dexcom
  • Empire Southwest

6. Con: Urban sprawl

Mesa, like much of the Phoenix metro area, is characterized by urban sprawl. The city’s rapid growth has led to the development of extensive suburban neighborhoods, often resulting in long commutes and increased traffic congestion. The sprawling nature of the city can also make it difficult to access amenities and services without a car, which may be inconvenient for some residents.

7. Pro: Outdoor recreation opportunities

Mesa’s location in the Sonoran Desert provides residents with easy access to a wide range of outdoor activities. The nearby Superstition Mountains offer hiking, rock climbing, and camping opportunities, while the Salt River provides options for kayaking, tubing, and fishing. Additionally, the city’s numerous parks and golf courses make it easy for residents to enjoy the outdoors without leaving town.

Popular outdoor activities in Mesa

  • Hiking in Usery Mountain Regional Park
  • Kayaking on the Salt River
  • Biking on the Maricopa Trail
  • Exploring the Desert Botanical Garden
  • Golfing at the Longbow Golf Club

8. Con: Air quality concerns

Mesa, like much of the Phoenix area, can experience poor air quality, particularly during the summer months. The combination of high temperatures, vehicle emissions, and desert dust can contribute to smog and other air quality issues. This can be a concern for residents with respiratory conditions or those sensitive to air pollution, making it important to stay informed about air quality alerts.

9. Pro: Vibrant arts and culture scene

Mesa offers a vibrant arts and culture scene, with numerous museums, theaters, and galleries throughout the city. The Mesa Arts Center, one of the largest arts complexes in the Southwest, offers a variety of performances, exhibitions, and classes for residents of all ages. Additionally, the city hosts several annual events and festivals, celebrating everything from music and dance to food and wine.

10. Con: Traffic congestion

As Mesa continues to grow, traffic congestion has become a more significant issue, particularly during peak commuting hours. The city’s sprawling layout and reliance on cars contribute to increased traffic on major roads and highways. While efforts are being made to improve infrastructure and public transportation, residents may still face delays and longer commute times.

Commute times to popular destinations

  • Phoenix Sky Harbor International Airport: 30 minutes by car
  • Downtown Phoenix: 25 minutes by car
  • Scottsdale: 30 minutes by car
  • Tempe: 20 minutes by car
  • Gilbert: 15 minutes by car

11. Pro: Strong educational institutions

Mesa is home to several top-rated educational institutions, including Arizona State University’s Polytechnic Campus and the Mesa Public Schools district. These schools, along with a variety of private and charter schools, provide residents with access to quality education at all levels. The city’s commitment to education is evident in its well-maintained school facilities and community support for academic programs.

12. Con: High sales tax

Arizona has one of the highest sales tax rates in the country, and Mesa residents are subject to these rates. The combined state and local sales tax rate in Mesa is around 8.3%, which can add up, particularly for large purchases. While the state’s lack of an income tax may offset this for some, the high sales tax can still impact the overall cost of living.

13. Pro: Welcoming neighborhoods

Mesa is known for its inviting neighborhoods that offer excellent schools, parks, and community amenities. Areas like Eastmark, Las Sendas, and Dobson Ranch are particularly popular due to their strong sense of community, tree-lined streets, and proximity to quality schools. These neighborhoods provide a welcoming and appealing environment, making Mesa an attractive place to call home.

14. Pro: Access to healthcare facilities

Mesa residents have access to a variety of healthcare facilities, including top hospitals and specialized clinics. The city is home to Banner Desert Medical Center, one of the largest hospitals in Arizona, as well as several urgent care centers and medical offices. This access to quality healthcare is a significant advantage for residents, ensuring they have the resources they need.

Pros & cons of living in Mesa, AZ (summary)

  • Pro: Warm climate and abundant sunshine
  • Con: High summer temperatures
  • Pro: Affordable cost of living
  • Con: Limited public transportation options
  • Pro: Growing job market in key sectors
  • Con: Urban sprawl
  • Pro: Outdoor recreation opportunities
  • Con: Air quality concerns
  • Pro: Vibrant arts and culture scene
  • Con: Traffic congestion
  • Pro: Strong educational institutions
  • Con: High sales tax
  • Pro: Welcoming neighborhoods
  • Pro: Access to healthcare facilities

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The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.

If you or someone you know has been a service member for the United States, then you’ve likely heard of the SCRA. However, you might not know exactly what the SCRA is or how it can help you. 

SCRA stands for Servicemembers Civil Relief Act. The SCRA (formerly called the Soldiers’ and Sailors’ Civil Relief Act) was enacted into law in 2003. This law aims to protect military personnel who are on active duty by limiting actions that can be taken against them. It also aims to reduce, postpone or stop any civilian obligations while a person is on active duty.

This law is intended to allow military personnel to focus on their military duties by reducing financial and legal burdens that might otherwise affect them. 

What Does the SCRA Cover?

The SCRA is quite extensive in protecting active military personnel and covers many different factors. Some of the most used features include limits on interest rates, foreclosures and more.

Interest Rates

Under the SCRA, creditors must limit the amount of interest for military personnel to six percent per year. This six percent maximum also applies to debts incurred before military service. Any interest that is higher than this maximum must be forgiven by the creditor. 

This limited interest rate applies to credit cards, mortgages, business obligations, fees, service charges, annual renewals and loans (like auto, recreational vehicle and home equity loans). However, this rule affects only some student loans. 

For mortgages, the reduced rate of six percent will continue for one year after active-duty service ends. 

A service member’s interest rate isn’t automatically reduced when they enroll in the military. Instead, the individual needs to reach out to their creditor with a copy of their military active-duty orders and a formal, written request to abide by the six percent interest maximum. 

There are some exceptions to the rule. Suppose a creditor appeals the request and the court finds that the service member’s ability to repay isn’t impacted by their active duty. In that case, the service member may have to pay the original interest rate.

Foreclosures and Repossessions

Under the SCRA, service members are protected against default judgments, including foreclosures and repossessions. When a service member doesn’t appear in court because they’re away on active duty, the court cannot issue a judgment.

Foreclosures

If the service member purchased a home before their military service, a lender cannot seize or foreclose on the house. The only exception is if the lender receives a court order for foreclosure. 

Some states don’t require a court order to foreclose on a home (nonjudicial foreclosures), but under the SCRA, service members are protected in these states too. 

Additionally, a foreclosure postponement extends to one year after military service ends, also known as “tail coverage.”

Repossessions

Lenders cannot repossess property—such as vehicles—for nonpayment or under a contract termination due to payment gaps. This applies to any missed payments during the service member’s military service. The only exception is if the lender receives a court order for repossession. 

Income Taxes

If a service member can show that their military service impacts their ability to pay their income taxes, payment the income taxes can be deferred. This rule applies to the IRS, state and local tax authorities. Additionally, the service member can’t be charged any interest or fees for the income tax deferral. 

Small Businesses 

If a service member owns a small business, creditors cannot come after them for business obligations or debts while the individual is on active duty. The SCRA protects the individual’s military pay and nonbusiness assets from the creditors associated with the small business. 

Credit

When a service member asserts their rights under the SCRA, creditors cannot respond by revoking or denying credit or changing the credit terms. For example, if an individual invokes the six percent interest rule, the creditor cannot respond by reducing their credit card limit. 

However, individuals should note that if a service member misses a payment, the creditor can report them to credit reporting companies. This late payment may then show up as a negative item on their credit report and may lower their credit score. 

Other

Voting

Service members retain the right to vote in their state of residency, even when they’re stationed for active duty in another state or country. They don’t need to change their voter registration and will be able to vote in their state of legal residence. 

Civil Judicial Proceedings

Any civil judicial proceedings, including family law proceedings, are postponed under the SCRA. If it is found that a defendant service member has not been able to attend court because they’re on active duty, the court cannot enter a default judgment against them. The service member then has to appoint an attorney to represent their interests as a defendant.

Life Insurance 

A life insurance company cannot increase payments or terminate coverage because an individual is on active duty. An exception to this rule is natural premium increases that come as a result of age. 

Insurance companies also can’t limit or restrict any type of coverage due to active-duty service. 

Who Is Eligible?

The SCRA covers all active-duty military members, including:

  • Army
  • Marine Corps
  • Air Force
  • Space Force
  • Coast Guard
  • Navy
  • Reserves and National Guard
  • Commissioned officers in active duty with the Public Health Service or the National Oceanic and Atmospheric Administration 

A service member’s eligibility begins the first day of their active-duty service commitment and ends between 30 and 90 days after finishing active duty. For some aspects covered by the SCRA, the SCRA protection can extend up to 180 days post-active duty. 

For Reserve and National Guard members, the eligibility for SCRA begins the very day they receive their mobilization orders. Even if Reserve and National Guard members are in unpaid status or not on active duty, the SCRA protections apply. 

SCRA protections can apply to the spouses and children of service members or to other individuals who relied on the service member for 50 percent or more of their financial support. This support had to start at least 180 days before using SCRA protections. 

Service members who are uncertain about the coverage for themselves or their loved ones can contact the Legal Assistance Office at their base.

Waiving Your Rights

A service member can waive their rights under the SCRA with a written document signed after their military service period starts. Waiving your SCRA rights before entering military service makes the action void. 

While you can waive your SCRA rights, it’s generally not recommended to do so. Make sure you consult an attorney before proceeding with this action, and read the documents carefully before signing. 

How to Take Advantage of the SCRA

The majority of your rights under the SCRA require you to take some form of action before protection takes effect. Tax authorities, lenders and courts often don’t know that a person is on active duty. To take full advantage of the SCRA, you should first understand all the benefits and your rights. 

For example, to get a refund on certain interest and fees you have to actively request relief by submitting paperwork so they can verify your active-duty military status, but it’s well worth the effort. 

In general, when you’re applying for SCRA benefits, you’ll need to provide the following information: 

  • Account number
  • Start date of the active-duty service
  • Request for relief in accordance with the SCRA
  • Copy of active-duty orders

Certain companies may give you additional SCRA benefits on top of everything else. One large bank offers active-duty personnel interest rates that are two percent lower than what the SCRA requires Many other creditors or financial institutions also offer additional benefits.

By understanding your SCRA benefits, you can set yourself up to take full advantage of everything being offered to you. This can help you significantly when you return from active duty. 

Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.

Source: lexingtonlaw.com

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Missouri, a state rich in history and cultural diversity, has bustling urban centers, charming small towns, and scenic landscapes. Known for its vibrant music scene, barbecue, and outdoor adventure, Missouri is a great place to call home. Whether you’re browsing homes for sale in St. Louis, considering renting in Kansas City, or exploring houses for rent in Springfield, here’s what you need to know before moving to Missouri.

Missouri at a glance

Living in Missouri provides a mix of bustling city life and serene rural landscapes, making it an attractive destination for different lifestyles. Kansas City, one of the state’s largest urban centers, is known for its vibrant jazz scene, world-class barbecue, and rich history. St. Louis, another major city, blends economic opportunities, renowned educational institutions, and iconic landmarks like the Gateway Arch. Missouri’s affordable cost of living, particularly in smaller towns and rural areas, makes it a compelling choice for those seeking a high quality of life without high costs.

Missouri’s job market is robust, with key industries such as agriculture, manufacturing, and transportation. Major employers in the state include Panera Bread, Emerson Electric, and Ascension Michigan. The cultural scene is lively and varied, with numerous festivals—like the Honey Festival—along with museums and theaters enriching the community experience. Residents can enjoy the state’s diverse outdoor spaces, from the Ozark Mountains to the Lake of the Ozarks, offering countless recreational activities. With its wide range of attractions, discover some of the best places to live in Missouri, so you can decide if this state is right for you.

1. Missouri has diverse weather throughout the state

Missouri experiences a wide range of weather conditions due to its geographical location. Summers can be hot and humid, with temperatures often reaching the 90s°F, while winters can be cold with temperatures dropping to the 20s°F, and snow and ice are common. The state is also prone to severe weather, including thunderstorms and tornadoes, especially in the spring and summer months. The varied climate means residents must be prepared for a wide range of weather conditions throughout the year.

Insider scoop: Invest in a weather radio with alerts and consider having an emergency kit ready for severe weather events, as Missouri’s storm season can bring sudden and intense weather changes that require quick action.

2. The cost of living is low here

Missouri offers a relatively low cost of living compared to the national average, making it an attractive place to live for many. Housing is particularly affordable, with the median home price around $274,200, significantly lower than the national median of $439,455. Rental prices are also reasonable, with average rents for a two-bedroom apartment in cities like St. Joseph ranging from $850-1,000 per month. This affordability extends to everyday expenses like groceries and utilities, allowing residents to enjoy a comfortable lifestyle without breaking the bank. 

Consider the pros and cons of living in Missouri before moving to the state.

3. Barbecue is a big deal

Missouri, and particularly Kansas City, is known for its barbecue culture. The state’s barbecue has variety, including slow-cooked ribs, brisket, and pulled pork, often accompanied by a tangy, tomato-based sauce. Kansas City is home to numerous legendary barbecue joints and annual festivals celebrating this culinary tradition. If you’re moving to Missouri, indulging in local barbecue will give you a true taste of the region’s rich food heritage.

Insider scoop: Make sure to visit Joe’s Kansas City Bar-B-Que, one of the most acclaimed spots in the city, located in a former gas station; it’s renowned for its burnt ends

4. The iconic Gateway Arch is a symbol of history

The Gateway Arch in St. Louis is a towering 630-foot monument that symbolizes the westward expansion of the United States. Designed by architect Eero Saarinen, it is the tallest man-made monument in the U.S. and offers stunning views of the Mississippi River and the city from its observation deck. The Arch is part of the Gateway Arch National Park, which includes historical exhibits and museums detailing the history of westward expansion. Visiting the Arch provides a deep dive into both Missouri’s and America’s history.

Travel tip: To avoid long lines and ensure you get a spot on the popular tram rides to the top, consider booking your tickets online in advance and visiting early in the day.

5. Get ready to explore the Ozark Mountains

The Ozark Mountains, spanning southern Missouri and northern Arkansas, offer a diverse landscape of rolling hills, dense forests, and clear rivers. This region is ideal for adventure, providing numerous opportunities for hiking, camping, fishing, and boating. The Ozarks also feature scenic byways and natural attractions like the Ozark National Scenic Riverways and the Mark Twain National Forest. Exploring this area will reveal Missouri’s natural beauty and offer a range of recreational activities.

Insider scoop: For a truly memorable experience, take a guided float trip on the Current River, known for its crystal-clear waters and stunning scenery; it’s a great way to appreciate the Ozarks’ natural beauty and wildlife up close.

6. The state has a growing wine industry

Missouri’s wine industry is expanding, with more than 130 wineries scattered across the state, particularly in the Missouri River Valley and the Ozark region. The state’s wineries produce a variety of wines, including Norton, a native grape that thrives in Missouri’s climate, and other popular varieties. Hermann, located in the heart of Missouri’s wine country, is known for its German heritage and its many vineyards. Visiting these wineries and participating in wine tastings provides insight into the state’s growing wine culture.

7. Sports culture is huge in Missouri

Missouri has a passionate sports culture, with major leagues and college teams enjoying strong local support. Kansas City is home to the NFL’s Chiefs and MLB’s Royals, while St. Louis boasts the NHL’s Blues and MLB’s Cardinals. College sports are also significant, with the University of Missouri Tigers and Saint Louis Billikens drawing large crowds to their games. Game days are major social events, and sports enthusiasts will find a vibrant, enthusiastic community.

Insider tip: To truly immerse yourself in the local sports scene, try attending a tailgate party before a Kansas City Chiefs game or a St. Louis Cardinals game; these gatherings are a fantastic way to experience the community spirit and meet fellow fans.

8. You’ll find Route 66 here

Missouri is home to a historic stretch of Route 66, the famous highway that once connected Chicago to Santa Monica. The route runs through cities like Springfield and Joplin, offering a nostalgic look at mid-20th-century American road trips. Along Route 66, you’ll find quirky roadside attractions, classic diners, and vintage motels that harken back to the golden age of travel. Exploring this iconic route is a way to experience Missouri’s historical and cultural heritage.

Travel tip: For a richer experience, start your journey at the Route 66 Visitor Center in Springfield, where you can pick up maps, guides, and local tips to help you discover hidden gems along the route.

9. “Show-Me State” pride 

Missouri’s nickname, the “Show-Me State,” reflects its residents’ reputation for straightforwardness and practical sensibility. This state pride is evident in local customs, community events, and the welcoming attitude of Missourians. Whether participating in state fairs, local festivals, or simply engaging with neighbors, you’ll notice the pride locals take in their heritage and their no-nonsense approach to life. 

10. There are plenty of small-towns throughout the state

Missouri is dotted with charming small towns, each with its own unique character and local flavor. Places like Hannibal, the hometown of Mark Twain, and Hermann, known for its German heritage and wineries, offer a glimpse into the state’s rich culture scene. Exploring Missouri’s small towns provides a taste of the state’s slower-paced, community-focused lifestyle.

Methodology

Population data sourced from the United States Census Bureau, while median home sale prices, average monthly rent, and data on affordable and largest cities are sourced from Redfin.

Source: rent.com

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With its majestic mountain ranges, expensive desserts, and renowned national parks like Zion and Bryce Canyon, Utah provides endless outdoor adventure opportunities. The state’s cultural richness is reflected in its diverse cities, from the historic charm of Salt Lake City to the scenic allure of Park City. Whether you’re browsing homes for sale in Salt Lake City, considering renting in Park City, or exploring houses for rent in Provo, here’s what you need to know before moving to Utah.

Utah at a glance

Utah, known for its breathtaking landscapes and outdoor recreation, offers a distinctive living experience. The state is home to five national parks, known collectively as the “Mighty Five” — Zion, Bryce Canyon, Arches, Canyonlands, and Capitol Reef — providing unparalleled opportunities for hiking, biking, and exploring natural wonders. The Wasatch Front, which includes large cities like Salt Lake City and Provo, boasts a strong economy driven by tech industries and outdoor tourism, while the rural areas, such as St. George and Moab, offer a quieter, scenic lifestyle.

The climate in Utah varies significantly depending on the region, with cold, snowy winters in the mountainous areas and hot, dry summers in the desert regions. Cost of living is relatively moderate compared to other states, and more affordable options in rural regions. Whether you’re attracted by the urban amenities of metropolitan hubs or the small-town charm of places like Moab, Utah has a diverse range of living environments to suit different preferences and lifestyles.

1. Utah has a dry climate and low humidity

Utah’s dry climate, characterized by low humidity and minimal rainfall, can be an adjustment if you’re used to more temperate or humid environments. The arid conditions are particularly noticeable in the summer when temperatures can soar above 100°F in areas like Salt Lake City and St. George. Residents often deal with dry skin and lips, so moisturizing and staying hydrated are essential daily routines. 

2. You might have to adjust to the altitude

Much of Utah sits at a high elevation, with Salt Lake City at about 4,300 feet and Park City at over 7,000 feet above sea level. This altitude can affect your body in various ways, including causing shortness of breath, headaches, and dehydration, especially during your first few weeks in the state. It’s common for newcomers to take it easy and drink plenty of water to help their bodies adjust. Outdoor activities, like hiking or skiing, might be more strenuous than you’re used to, so it’s important to pace yourself as you acclimate.

Insider tip: Visit the lower-elevation hiking areas around the Bonneville Shoreline Trail in Salt Lake City, which offers stunning views without the steep climbs of higher altitudes.

3. Many people travel to Utah for its recreation opportunities

Utah is a mecca for outdoor adventure, providing a wealth of recreational activities year-round. The state is home to five national parks, often referred to as the “Mighty 5″—Zion, Bryce Canyon, Arches, Canyonlands, and Capitol Reef—which provide some of the most stunning landscapes and hiking opportunities in the country. In the winter, the “Greatest Snow on Earth” draws skiers and snowboarders to world-renowned resorts like Snowbird and Park City. If you’re moving to Utah, be prepared to embrace an active lifestyle with endless options for hiking, biking, camping, and skiing.

Travel tip: Consider visiting the lesser-known Cedar Breaks National Monument, especially in the fall when the crowds thin out. It’s a hidden gem where you can enjoy breathtaking views and vibrant autumn colors without the hustle of more popular parks.

4. You may need to conserve water in Utah

Utah’s arid climate means water conservation is a way of life, with the state frequently experiencing drought conditions. Residents are often encouraged, or even required, to limit water use, particularly for lawn watering and car washing. Xeriscaping, or landscaping with drought-resistant plants, is popular and sometimes necessary to reduce water consumption. Additionally, many homes are equipped with low-flow fixtures and irrigation systems designed to minimize water usage. 

5. Housing prices are rising but remain pretty affordable

Utah’s housing market has seen significant growth in recent years, with prices rising, especially in urban areas like Salt Lake City and Park City. As of 2024, the median home sale price in Salt Lake City is $639,000, while in more affordable areas like Ogden, it’s closer to $360,000. Rental rates also vary widely, with one-bedroom apartments in Salt Lake City averaging around $1,500 per month, while smaller towns like Saratoga Springs offer lower rates. Despite the increase, Utah remains more affordable than many other states with similar amenities, making it an attractive place for new residents.

6. Health and fitness culture is strong here

Utah consistently ranks as one of the healthiest states in the nation, with a strong emphasis on outdoor activities and overall wellness. Residents often participate in hiking, mountain biking, skiing, and other physical activities year-round. Many cities, like Salt Lake City and Provo, have extensive trail systems, public parks, and recreation centers that cater to this active lifestyle. The local diet also tends to be health-conscious, with numerous farmers’ markets and health food stores supporting a balanced, active lifestyle.

7. Utah has a flat income tax rate

Utah’s tax system is straightforward, with a flat income tax rate of 4.55%, which applies to all income levels. This simplicity can make financial planning easier for residents compared to states with more complex tax brackets. The state also boasts a relatively low cost of living and competitive property taxes, contributing to its appeal. However, it’s important to consider that other living expenses, such as housing and healthcare, may offset some of these benefits, depending on your location within the state. It’s important to weigh the pros and cons of living in Utah before making this state your home.

8. Winter sports are big deal here

Utah is world-famous for its winter sports, particularly skiing and snowboarding. The state’s mountains, including those in the Wasatch Range, offer some of the best powder conditions in the world, attracting people from around the globe. Major resorts like Deer Valley, Snowbird, and Alta are just a short drive from Salt Lake City, making it one of the best places to live in Utah. Whether you’re a seasoned skier or new to winter sports, Utah’s winter culture is something you’ll quickly become a part of.

9. Utah is a great place to stargaze

Utah’s vast, remote landscapes and low levels of light pollution make it one of the best places in the country for stargazing. The state is home to several International Dark Sky Parks, including Bryce Canyon National Park and Capitol Reef National Park, where the night skies are exceptionally clear. Even outside these parks, rural areas like the Great Basin and the desert regions offer incredible views of the Milky Way, meteor showers, and other celestial phenomena. 

Travel tip: If you’re up for an adventure, consider setting up camp at Cedar Mesa or Escalante, where the skies are incredibly dark and you can enjoy a peaceful, unobstructed view of the stars. Try timing your visit around a new moon for the clearest skies and the most dazzling views of the Milky Way.

10. There are restrictions on alcohol in Utah

Utah’s alcohol laws are some of the most unique in the country, influenced by the state’s cultural and religious background. The state controls liquor sales through state-run stores, which are the only places you can buy spirits, wine, and beers with more than 5% alcohol by volume (ABV). Bars and restaurants operate under specific regulations, with some requiring food to be ordered with alcohol and others adhering to strict limits on the amount of alcohol in mixed drinks. You won’t find wine or strong beer in grocery stores, but they do sell beer up to 5% ABV.

Methodology

Population data sourced from the United States Census Bureau, while median home sale prices, average monthly rent, and data on affordable and largest cities are sourced from Redfin.

Source: rent.com

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In August 1979, Warren Buffett wrote an article for Forbes attacking the herd instinct of investors. The late 1970s were tough for the American economy, and the stock market reacted harshly.

Buffett wrote,

“…the future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually, is the friend of the buyer of long-term values.”

Warren Buffett

The future is never clear. Let Buffett’s wisdom sink in. Uncertainty surrounds us, like fog on the highway. Risk is omnipresent. Say it with me: risk is omnipresent. 

Only our perceptions and feelings change, sure. But feelings do not create or change reality.

Some periods feel optimistic and “cheery” – What risk?! Stocks can’t possibly go down! This is nirvana! Many younger investors have felt this in the past 15 years.

Other periods feel woefully pessimistic. “This is the death of equities,” wrote Business Week in the summer of 1979. If you’ve lived through bear markets or all-out crashes, you might know this type of pessimism.

Both of those perceptions are overly emotional. The optimist underestimates risk, and the pessimist overestimates risk.

We need to be prudent realists.

On the Road Again…

Every time you get in a car, the threat of getting in an accident is real.

According to Esurance, your odds of getting in a car accident are 1-in-366 for every 1000 miles driven. That equates to ~1-in-4 odds for every 100,000 miles driven. Accidents are out there!

Perhaps you’ve never had an accident before. Nevertheless, your future risk of an accident is still very real. I’d bet this person, with their perfect driving record, underestimates how real their future risk actually is. 

Or perhaps you’ve gotten in multiple accidents – more than your fair share. I’d wager that person is hyper-aware to their future accident risk. In fact, they’ll likely overestimate their future risk. 

Our perceptions of future risk are often shaped by our past experiences. We are pattern-seekers. But many events in this world are entirely decoupled from the past. Other types of events happen too infrequently for patterns to be evident. We get lulled into a false sense of reality. The stock market certainly acts this way.

The perfectly rational driver does the best they can (e.g., drives safely and defensively) yet still understands that future accidents might be waiting for them, regardless of their past driving record.

Back to the Market

Is a market crash coming soon? I don’t know, and neither do you.

Our past 15 years of relative stock market bliss do not necessitate a pending crash. None of this is predetermined. 

But I do think the past 15 years have lulled many stock investors into a false sense of security. Many investors are thinking the same way as the accident-free driver. “I’ve never got in an accident. It must be a minuscule risk. Perhaps even zero risk!” 

This is dangerous. Just as a driver should always maintain a defensive approach, so should the investor. And going back to Buffett’s inspirational quote:

“…the future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty, actually, is the friend of the buyer of long-term values.”

When our fellow investors get too confident, when they ignore the omnipresent risks, they (incorrectly) believe that further stock ownership is a zero-downside panacea. It’s 10% per year, guaranteed, forever!**

**It’s not.

Their demand for more stock ownership drives prices upward and, ultimately, reduces future expected returns. We all pay a price for a cheery consensus.

While a hard pill to swallow, stock buyers would rather have some tumult. We don’t mind buying at slightly lower prices. Uncertainly, as Buffett wrote, is our friend.

During and After a Crash

My final point, which I hope you’ll agree with…

We should be just as respectful of the omnipresent risks today as we would be during the middle of a stock market correction or even at the bottom of a market crash.

The risk of stock ownership is the same at all points! It doesn’t change. Only our feelings (“making money rocks!” vs. “losing money stinks!”) are changing. The risk itself is not changing.

If you can internalize that investing truth, you’ll become “the invulnerable investor.” Emotions won’t sway you.

That is the “little secret” of all great investors.

Thank you for reading! If you enjoyed this article, join 8500+ subscribers who read my 2-minute weekly email, where I send you links to the smartest financial content I find online every week. You can read past newsletters before signing up.

-Jesse

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Apache is functioning normally

When you purchase a home, you must pay closing costs, which are the fees the lender charges to recoup loan processing costs. These can add up to a hefty sum, typically 3% to 6% of your mortgage amount.

Typically, you can take out a personal loan to cover those closing costs and help you across the finish line of a property purchase. You can often tap other funding sources as well. Take a closer look at the pros and cons of using a personal loan for closing costs, plus the alternatives, so you can decide what’s best for your needs.

What Are Closing Costs?

Closing costs are processing fees that you pay to your lender, either as the buyer or seller in a real estate transaction:

•   Buyers: Buyers typically pay between 3% and 6% of the total loan amount in closing costs. Buyers must pay this amount out of pocket, so it’s important for them to have a plan for how they’ll access the money before they get to the closing table.

•   Sellers: If sellers contribute to closing costs (say, to negotiate a home sale), those fees usually get taken out from the sale proceeds.

Here’s an example: If you plan to buy a home with a $300,000 loan, as the buyer, you’ll need to bring between $9,000 and $18,000 to the closing table. If you were the seller, you’d see that amount taken out of the costs you’d pocket from the sale.

Fees Associated with Closing Costs

Closing cost fees may include:

•   Application fee: Lenders sometimes charge a one-time fee for borrowers to submit a loan application.

•   Credit report fee: A credit report or credit check fee covers the cost to dig into your credit report, which shows your credit history. Your lender uses the information it uncovers to decide whether to approve your loan and how much they’ll lend you.

•   Origination fee: You pay this fee to the lender to process the loan application.

•   Appraisal fee: A fee paid to a professional to appraise the home based on an evaluation to determine its fair market value.

•   Title search: A title search looks into public records to determine who actually owns the property and who has liens on the property (for example, an unpaid contractor’s lien for work done on the home).

•   Title insurance: Title insurance protects you from financial loss and legal expenses in case the home has a bad title.

•   Underwriting fee: Underwriting is the process of reviewing your finances to determine the risk of offering you a mortgage, and the fees cover this process.

•   Property survey fee: Property survey fees cover the cost of checking the boundaries and easements of a property. This process shows exactly where the property’s perimeter is and what the property includes.

•   Attorney fee: You will probably need to hire a lawyer to review the terms in your purchase contract and handle your closing.

•   Discount points: Discount points are a way to balance your upfront costs and your monthly payment. If you use points to pay more upfront, you’ll likely have a lower interest rate, meaning that you could pay less monthly and over your loan term.

•   Homeowners insurance premiums: Homeowners insurance provides financial protection if your home undergoes a disaster or accident. You must typically show your lender that you have paid homeowners insurance.

•   Mortgage insurance: If you have a down payment of less than 20%, you will often have to pay mortgage insurance, a fee per month that protects your lender if you were to default. You’ll also have to pay a version of mortgage insurance on Federal Housing Administration (FHA) and U.S. Department of Agriculture (USDA) loans. You may have to pay these insurance fees with your closing costs in addition to your monthly payments, particularly for the FHA and USDA loans.

•   Property tax: Homeowners pay property tax to state, county, and local authorities for schools, roads, and other municipal services. You may have to pay a portion of your property tax at closing.

•   Homeowners association (HOA) fees: If you plan to move to a neighborhood that has an HOA, or an organization that makes and enforces rules for a neighborhood, you may owe HOA fees at closing. The seller may pay these on a prorated basis.

•   Per-diem interest: Per-diem interest refers to the interest a lender charges for the days between a closing date and the first day of your billing period.

•   Transfer tax: State or local governments often charge real estate transfer taxes, meaning that they charge when properties transfer ownership.

•   Recording fee: State and local governments charge recording fees to legally record your deed, mortgage, and other home loan documents.

Note that this isn’t an exhaustive list of closing costs — you may be on the hook for other fees as well.

Can You Use a Personal Loan for Closing Costs?

First, it’s important to understand how a personal loan works. It is usually funded by a bank, credit union, or online lender. You can typically use the money however you want — there aren’t as many restrictions on personal loans compared to, say, student loans. After you receive a personal loan, you pay it back with regular, fixed payments (with interest) over a specified term.

As mentioned above, you can use the cash as you see fit. So, yes, you can use a personal loan for closing costs. However, you can’t use it for a down payment, and you must tell your lender that you’ll go this route and borrow to pay the closing costs. The lender will include it in your debt-to-income (DTI) ratio, which is the amount of debt you have relative to your income.

Applying for a personal loan can involve prequalifying with several lenders and comparing them, gathering required documents (ID, proof of address and income, Social Security number, and education history), filling out the loan application, and receiving your funds after approval. You may be able to get a personal loan in one to three days.

As you shop around for funds, you’ll likely want to consider what credit score you need for a personal loan at a given interest rate. Also consider the length of the loan term; this can typically range from one to seven years.

Recommended: Guide to Personal Loans

Pros of Taking Out a Personal Loan for Closing Costs

Here are some of the key benefits of taking out a personal loan for closing costs.

•   Collateral not required: Personal loans are often unsecured loans, meaning that you don’t have to put an asset up in order to receive the loan. Therefore, if you fail to repay the loan, your lender will not claim the asset to repay your debts.

•   Quick approval: It usually doesn’t take long to get a personal loan once you’ve been approved. After you submit your application and materials, it might take just a day to get the personal loan, though it could take longer.

•   Flexible repayment options: You can tap into flexible repayment plans, including no prepayment penalty, meaning that the lender won’t penalize you for paying off the loan early.

Cons of Taking Out a Personal Loan for Closing Costs

Next, consider the downsides of using a personal loan to cover closing costs.

•   DTI increase: Lenders will look at your overall debt under a microscope, so taking on a personal loan may factor into your overall debt. It may signal to the lender that you aren’t in a good financial position since an additional loan could raise your DTI ratio. It might keep you from being approved for a mortgage or could result in a higher mortgage interest rate.

•   Additional loan payment: You might find it tricky to repay a personal loan in addition to a mortgage payment. Consider whether you can comfortably make both payments every month.

•   High interest rates: There is the potential for high interest rates if you have poor credit. This can make it more challenging to afford a personal loan.

Recommended: Personal Loan Requirements

Alternatives to a Personal Loan for Closing Costs

You may have options vs. getting a personal loan for closing costs. Consider how else you might handle those fees.

•   Roll them into your mortgage: You may be able to add your closing costs to your mortgage, but this means you’ll increase the principal balance of your loan. This will increase both the principal and the interest you’ll pay over your loan term and also translates to higher monthly payments.

•   Ask for a waiver: Your lender may be willing to waive certain fees. For example, they may reduce certain processing fees. There’s no guarantee, but it can be worth asking. That might help you out with your final closing cost amount.

•   Ask the seller to pay: As mentioned previously, sellers may pay for some of the closing costs if they’re eager to ensure that the property sale doesn’t fall through.

•   Tap into assistance programs: Many state and local governments offer down payment and closing cost assistance programs for moderate- to low-income home buyers. Look into your state’s housing finance agency, your city or county website, the U.S. Department of Housing and Urban Development (HUD), or check with your lender to learn more about your options.

•   Use gift money: Do you have a generous grandparent or parent who wants to help you cover your closing costs? Your state may have rules and regulations attached with gift money (especially ensuring that it’s an actual gift). Check with your lender to learn more.

The Takeaway

You can typically use a personal loan to pay for closing costs, the fees that can cost 3% to 6% of your home loan amount when you purchase a property. While this can be a convenient source of funding that is typically unsecured (meaning no collateral is required), it can raise your DTI and add to your monthly financial burden. It’s wise to carefully consider all the pros and cons, as well as alternative funding sources, when deciding whether to use a personal loan for closing costs.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.

SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

FAQ

Is it smart to finance closing costs?

Whether it’s smart to finance closing costs depends on your personal situation. For example, for some people who can handle the additional monthly payment, it may be a convenient move. On the other hand, getting a personal loan may increase your DTI, so your mortgage lender might charge you a higher interest rate or deny you the loan altogether.

Can I put closing costs on a credit card?

While you’ll usually use a cashier’s check, certified check, or wire transfer to pay for closing costs, you can put some closing costs on a credit card, such as attorney, appraisal, and survey fees. Check with your lender to learn more about which fees you can put on a credit card. (Also note that using your credit card in this way can raise your credit utilization rate and potentially lower your credit score.)

What is not an acceptable source of funds for closing?

Closing costs are typically paid by a cashier’s or certified check or by wire transfer. Funds for these could be acquired by such sources as a government program or a personal loan. Less frequently, credit cards, debit cards, and personal checks may be accepted for some closing costs.

Photo credit: iStock/jacoblund

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