The typical owner-occupied home in Ferron is worth about $216,000, 56% below the Utah median of $489,400 and 35% below the national median of $332,700. Owners pay a median $1,382 a year in property taxes, about 0.64% of their home's value, higher than the Utah rate of 0.52%. The median household earns $70,947 a year, so the median home costs 3.0 times the median income (5.1 times for Utah). 69% of occupied homes here are lived in by their owners, and 51% of those owners still have a mortgage.
Ferron at a glance
| Ferron | Utah | U.S. | |
|---|---|---|---|
| Median home value | $216,000 | $489,400 | $332,700 |
| Median property tax paid per year | $1,382 | $2,525 | $3,119 |
| Property tax as a share of value | 0.64% | 0.52% | 0.94% |
| Median household income | $70,947 | $95,166 | $80,734 |
| Homes lived in by their owners | 69% | 70% | 65% |
| Owner homes with a mortgage | 51% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,200 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 17.9% | 20.5% | 21.0% |
| Median rent | $543 | $1,496 | $1,413 |
| Rent as a share of renters' income | 33.7% | 28.9% | 30.6% |
| Median year homes were built | 1979 | 1992 | 1980 |
| Vacant homes | 6.9% | 8.1% | 10.1% |
| Population | 1,517 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Ferron
At this week's average 30-year rate of 7.11%, buying the median Ferron home of $216,000 with 20% down costs about $1,368 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,727, 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 $58,613 for the 20%-down payment. That payment is 23% of the median Ferron household income of $70,947; at that income and 20% down, the 28% guideline points to a home of about $261,000.
The median rent here is $543 a month, so owning the median home costs about $825 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $43,200 |
|---|---|
| Loan amount | $172,800 |
| Principal and interest | $1,162 |
| Property taxes (0.64% a year) | $115 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| PMI | $0 |
| Total per month | $1,368 |
Change the numbers in the calculator
| Down payment | $7,560 |
|---|---|
| Loan amount | $212,088 |
| Principal and interest | $1,427 |
| Property taxes (0.64% a year) | $115 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| FHA mortgage insurance | $96 |
| Total per month | $1,727 |
Change the numbers in the calculator
Questions about home buying in Ferron
What is the median home value in Ferron?
About $216,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ferron?
Homeowners pay a median $1,382 a year, which is about 0.64% 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 Ferron?
For the median home with 20% down at 7.11%, the payment is about $1,368 a month. Keeping that under 28% of gross income takes about $58,613 a year.
More about Ferron
- Mortgage Refinance in Ferron
- Debt Relief in Ferron
- Home Equity Loans in Ferron
- 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