The typical owner-occupied home in Providence is worth about $515,900, 5% above the Utah median of $489,400 and 55% above the national median of $332,700. Owners pay a median $2,497 a year in property taxes, about 0.48% of their home's value, lower than the Utah rate of 0.52%. The median household earns $118,072 a year, so the median home costs 4.4 times the median income (5.1 times for Utah). 86% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Providence at a glance
| Providence | Utah | U.S. | |
|---|---|---|---|
| Median home value | $515,900 | $489,400 | $332,700 |
| Median property tax paid per year | $2,497 | $2,525 | $3,119 |
| Property tax as a share of value | 0.48% | 0.52% | 0.94% |
| Median household income | $118,072 | $95,166 | $80,734 |
| Homes lived in by their owners | 86% | 70% | 65% |
| Owner homes with a mortgage | 59% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $2,546 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 21.8% | 20.5% | 21.0% |
| Median rent | $1,560 | $1,496 | $1,413 |
| Rent as a share of renters' income | 23.0% | 28.9% | 30.6% |
| Median year homes were built | 2000 | 1992 | 1980 |
| Vacant homes | 1.2% | 8.1% | 10.1% |
| Population | 8,947 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Providence
At this week's average 30-year rate of 7.11%, buying the median Providence home of $515,900 with 20% down costs about $3,198 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,057, 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 $137,045 for the 20%-down payment. That payment is 32% of the median Providence household income of $118,072; at that income and 20% down, the 28% guideline points to a home of about $444,000.
The median rent here is $1,560 a month, so owning the median home costs about $1,638 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $103,180 |
|---|---|
| Loan amount | $412,720 |
| Principal and interest | $2,776 |
| Property taxes (0.48% a year) | $206 |
| Homeowners insurance (our estimate, 0.5% a year) | $215 |
| PMI | $0 |
| Total per month | $3,198 |
Change the numbers in the calculator
| Down payment | $18,056 |
|---|---|
| Loan amount | $506,556 |
| Principal and interest | $3,408 |
| Property taxes (0.48% a year) | $206 |
| Homeowners insurance (our estimate, 0.5% a year) | $215 |
| FHA mortgage insurance | $228 |
| Total per month | $4,057 |
Change the numbers in the calculator
Questions about home buying in Providence
What is the median home value in Providence?
About $515,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Providence?
Homeowners pay a median $2,497 a year, which is about 0.48% 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 Providence?
For the median home with 20% down at 7.11%, the payment is about $3,198 a month. Keeping that under 28% of gross income takes about $137,045 a year.
More about Providence
- Mortgage Refinance in Providence
- Debt Relief in Providence
- Home Equity Loans in Providence
- 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