The typical owner-occupied home in Utah is worth about $489,400, 47% above the national median of $332,700. Owners pay a median $2,525 a year in property taxes, about 0.52% of their home's value, lower than the national rate of 0.94%. The median household earns $95,166 a year, so the median home costs 5.1 times the median income (4.1 times for the U.S.). 70% of occupied homes here are lived in by their owners, and 69% of those owners still have a mortgage.
Utah at a glance
| Utah | U.S. | |
|---|---|---|
| Median home value | $489,400 | $332,700 |
| Median property tax paid per year | $2,525 | $3,119 |
| Property tax as a share of value | 0.52% | 0.94% |
| Median household income | $95,166 | $80,734 |
| Homes lived in by their owners | 70% | 65% |
| Owner homes with a mortgage | 69% | 61% |
| Median monthly costs, owners with a mortgage | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 20.5% | 21.0% |
| Median rent | $1,496 | $1,413 |
| Rent as a share of renters' income | 28.9% | 30.6% |
| Median year homes were built | 1992 | 1980 |
| Vacant homes | 8.1% | 10.1% |
| Population | 3,392,331 | 334,922,499 |
What a typical home costs per month in Utah
At this week's average 30-year rate of 7.11%, buying the median Utah home of $489,400 with 20% down costs about $3,050 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,865, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $130,704 for the 20%-down payment. That payment is 38% of the median Utah household income of $95,166; at that income and 20% down, the 28% guideline points to a home of about $356,000.
The median rent here is $1,496 a month, so owning the median home costs about $1,554 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $97,880 |
|---|---|
| Loan amount | $391,520 |
| Principal and interest | $2,634 |
| Property taxes (0.52% a year) | $212 |
| Homeowners insurance (our estimate, 0.5% a year) | $204 |
| PMI | $0 |
| Total per month | $3,050 |
Change the numbers in the calculator
| Down payment | $17,129 |
|---|---|
| Loan amount | $480,536 |
| Principal and interest | $3,233 |
| Property taxes (0.52% a year) | $212 |
| Homeowners insurance (our estimate, 0.5% a year) | $204 |
| FHA mortgage insurance | $216 |
| Total per month | $3,865 |
Change the numbers in the calculator
Questions about home buying in Utah
What is the median home value in Utah?
About $489,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Utah?
Homeowners pay a median $2,525 a year, which is about 0.52% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Utah?
For the median home with 20% down at 7.11%, the payment is about $3,050 a month. Keeping that under 28% of gross income takes about $130,704 a year.
More about Utah
- Mortgage Refinance in Utah
- Debt Relief in Utah
- Home Equity Loans in Utah
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data