2006 Population

1. Draper 34,873
2. Lehi 31,468
3. Tooele 27,752
4. Midvale 27,587
5. American Fork 25,762
6. Springville 25,049
7. Cedar City 23,299
8. South Salt Lake 22,060

Source: US Bureau of the Census,

• The percent of anticipated growth in the next five years is highest in Lehi at 6.2 percent, and lowest in South Salt Lake at 0.6 percent. The state average is 3.11 percent.
• The average household size is highest in Lehi — 3.7 persons per household, and lowest in South Salt Lake —2.4. The state average was 3.11 persons.
• Median home value was highest in Draper — $314,289, and lowest in South Salt Lake — $146,980. The state average was $183,752.
• The percent of residents 25 years and older that have completed high school was highest in Tooele at 93.1 percent, and lowest in South Salt Lake at 74.0 percent. The state average was 90.5 percent.
• The percent of residents 25 years and older that have completed a bachelor’s degree was highest in Tooele — 35.6 percent, and lowest in South Salt Lake —13.4 percent. The state average was 26.2 percent.
• The average travel time to get to work was lowest in Cedar City —12.0 minutes, and highest in Tooele —33.9 minutes. The state average was 21.3 minutes.
• The percentage of workers traveling to work alone in a vehicle was lowest in Tooele —67.1 percent, and highest in American Fork —80.7 percent. The state average was 75.5 percent.
• The percentage of single family detached homes was lowest in South Salt Lake — 39.4 percent, and highest in Lehi —83.6 percent. The state average was 67.7 percent.
• The median year households were built was oldest in South Salt Lake — 1966, and youngest in Lehi — 1991. The state average was 1976.

  Source: US Bureau of the Census, ESRI, Bonneville Research, 2006

  Note: The term "Tier III Cities" is used by Bonneville Research to distinguish a natural population grouping of cities, and represents no official or governmental designation.

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• GDP

• There was a larger than expected upward revision to real GDP growth for the third quarter—to 2.2% annualized from 1.6% in the advance estimate. The upward revision came from lower imports, higher inventories and greater consumer spending on services; these were partly offset by a downward revision to consumer spending on durable goods. Profits from current production increased $66.2 billion at an annualized pace in the third quarter from the second, setting another record. Growth remains below potential, largely due to the contracting housing market.

• Personal Income

• Personal income rose 0.4% in October, slightly below expectations and a 0.5% increase in September. Spending rose 0.2%, in line with expectations, and up from September’s downwardly revised 0.2% decline. The core PCE deflator rose 0.2%, while the top line deflator fell 0.2% due to tumbling energy prices. The saving rate rose to - 0.6%.

• Global Business Confidence

• Global business confidence remains fragile. Sentiment remains about where it has been since late summer, but it is down sharply from where it was a year ago, and its level is consistent with global growth that is below potential. Vehicle and transportation companies are dour, and confidence among residential real estate and manufacturing firms continues to slip. Businesses are turning less aggressive in their investment plans. Equipment and software investment is still strong, but weakening, while businesses are liquidating inventory. Pricing pressures are abating with the weaker conditions and lower energy and other commodity prices.

• UBS Index of Investor Optimism

• The UBS Index of Investor Optimism rose for the third consecutive month in November. This month the index rose 14 points to 93, its highest level since January. The improvement in the index over the past several months has been driven by lower gasoline prices, cresting inflation and subsiding fears of a housing market crash.

• Existing Home Sales

• Existing home sales picked up in October, according to the Realtor’s data. Sales of existing homes advanced a slight 0.5%, with the pace of sales up to 6.24 million units in October. House-price appreciation is down again on a year-ago basis, however, this month it is down by 3.5%. The months of inventory picked up a bit to 7.4, although this number is not adjusted for seasonal factors.

• New Home Sales (C25)

• New home sales are down in October. The pace of sales fell by 3.2% m/m to 1.004 million annualized units. Census also revised downward September sales. Months of inventory increased slightly from September, but the median price did firm.

• MBA Mortgage Applications Survey

• Mortgage demand decreased 3.9% in the week ending November 24. The decline was solely due to refinance applications, which fell 9.6%. Purchase applications increased 1.3%.

• Chain Store Sales

• Chain store sales grew 2.1% in November, down from 3.0% in October, according to the ICSC chain store index. Results were modestly below expectations although they were mixed across retailers. Warm, wet weather and weakening housing markets received some of the blame for the weakness.

• Durable Goods (Advance)

• New orders for durable goods fell 8.3% in October, following a gain of 8.7% in September. Ex transportation orders were down 1.7% and core capital goods

• Weekly Natural Gas Storage Report

• Underground storage of natural gas decreased by 32 billion cubic feet during the week ending November 24. This was more than the expected draw of 22 Bcf from storage. Inventories are now 7.2% above the five-year average. This report is likely to add some bullish pressure to prices.

• Oil and Gas Inventories

• Crude oil inventories fell by 0.3 million barrels for the week ending November 24, according to the Energy Information Administration, slightly above expectations of a 0.1 million barrel draw. Distillate inventories fell by 1 million barrels, above expectations of a 0.4 million barrel draw. Gasoline stocks fell 0.6 million barrels, in line with expectations. This is a neutral report, and will have a limited impact on prices.

• Agricultural Prices

• The All Farm Products Index of Prices Received by Farmers rose 4.3% in November from October. The crop index increased 8.7%, while the livestock decreased 0.9%. In addition to price movements, the index is also affected by seasonal factors based on the mix of commodities sold. Farmers received lower prices for cattle, tomatoes, oranges, and hogs. Higher prices were posted for corn, soybeans, eggs, and milk. The Index of Prices Paid by Farmers was unchanged from October, but 2.8% above the level of a year ago. Farmers paid higher prices for feed grains, feed supplements, feed concentrates, and complete feeds, and lower prices feeder cattle, mixed fertilizers, LP gas, and herbicides.

• Construction Spending (C30)

• Construction spending decreased 1.0% in October, lower than projections. Private construction decreased 1.5%, due to a weakening in both residential and nonresidential construction. In addition, public construction increased 0.8%.

• Vehicle Sales – AutoData

• Vehicle sales on a seasonally adjusted annualized basis eased slightly in November to a pace of 16 million units, despite rising incentives. The easing occurred because of weakening light truck sales - 8.6 million units, while cars sales edged higher, to 7.4 million.

Source: Economy.com