Additional Coverage:
- I visited the most expensive places in Utah and Wyoming. They were similar, but I’d only consider moving to one. (businessinsider.com)
Park City vs. Jackson Hole: Two playgrounds for the ultra-wealthy, but only one felt like home
Mountain towns are magnets for the ultra-rich, and I recently had the chance to explore two prime examples: Park City, Utah, and Jackson Hole, Wyoming. Both offer stunning scenery, luxury homes, and a vibrant atmosphere. But despite their similarities, only one truly resonated with me as a potential place to call home.
My first stop was Jackson Hole, Wyoming’s most expensive valley. Ranch-style mansions, complete with saunas and high-end cars, offered a glimpse into the lifestyles of the affluent. This opulence wasn’t entirely unexpected, given Jackson Hole’s location in Teton County, where the cost of living is a staggering 78% above the state average.
A few months later, I ventured to Park City, Utah’s priciest locale. While both destinations offered similar vacation experiences, a deeper look revealed key differences that swayed my preference.
Tale of Two Cities:
Park City, nestled in the mountains east of Salt Lake City, covers 20 square miles. It’s a known haven for tech workers, retirees, and CEOs, drawn by the world-class skiing and its proximity to the burgeoning Silicon Slopes tech hub. The average household income here is a substantial $247,300.
Jackson Hole, a 60-mile valley south of Grand Teton National Park, encompasses several towns, including Jackson, the area’s bustling center. Known for its dramatic proximity to the national park, Jackson Hole boasts breathtaking landscapes.
However, it also holds the dubious distinction of having the most unequal income distribution in the US, with the top 1% earning 142 times more than the bottom 99%. The area attracts a mix of high-net-worth individuals, including finance professionals, DINKs (dual-income, no kids), and boomers.
Luxury Living and Outdoor Adventures:
Both towns cater to a luxury lifestyle, with a thriving ski scene and a high percentage of part-time residents. Seasonal activities abound, from skiing and snowboarding in the winter to hiking and golfing in the summer. However, the real estate markets tell a different story.
Park City offers a wider range of housing options, with median listing prices around $2 million, but properties available for under $1 million and even condos under $500,000. Jackson Hole, on the other hand, leans heavily towards the luxury market. Limited private land availability (a mere 3% of the county) drives up prices, with average single-family home listings topping $10.7 million.
The Verdict:
Both Park City and Jackson Hole offer walkable downtowns with shops, restaurants, and vibrant nightlife. While Jackson Hole boasts more dramatic, undeveloped scenery thanks to its border with Grand Teton National Park, Park City’s proximity to a major airport like Salt Lake City International offers a significant advantage for travel.
Ultimately, Park City felt more attainable and practical. While both towns offer a luxurious mountain lifestyle, Park City’s more diverse housing market and convenient location make it a more realistic option for me.