The typical owner-occupied home in Tropic is worth about $256,400, 48% below the Utah median of $489,400 and 23% below the national median of $332,700. Owners pay a median $953 a year in property taxes, about 0.37% of their home's value, lower than the Utah rate of 0.52%. The median household earns $72,031 a year, so the median home costs 3.6 times the median income (5.1 times for Utah). 83% of occupied homes here are lived in by their owners, and 37% of those owners still have a mortgage.
Tropic at a glance
| Tropic | Utah | U.S. | |
|---|---|---|---|
| Median home value | $256,400 | $489,400 | $332,700 |
| Median property tax paid per year | $953 | $2,525 | $3,119 |
| Property tax as a share of value | 0.37% | 0.52% | 0.94% |
| Median household income | $72,031 | $95,166 | $80,734 |
| Homes lived in by their owners | 83% | 70% | 65% |
| Owner homes with a mortgage | 37% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,375 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 15.4% | 20.5% | 21.0% |
| Median rent | – | $1,496 | $1,413 |
| Median year homes were built | 1982 | 1992 | 1980 |
| Vacant homes | 27.9% | 8.1% | 10.1% |
| Population | 582 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Tropic
At this week's average 30-year rate of 7.11%, buying the median Tropic home of $256,400 with 20% down costs about $1,566 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,993, 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 $67,104 for the 20%-down payment. That payment is 26% of the median Tropic household income of $72,031; at that income and 20% down, the 28% guideline points to a home of about $275,000.
| Down payment | $51,280 |
|---|---|
| Loan amount | $205,120 |
| Principal and interest | $1,380 |
| Property taxes (0.37% a year) | $79 |
| Homeowners insurance (our estimate, 0.5% a year) | $107 |
| PMI | $0 |
| Total per month | $1,566 |
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| Down payment | $8,974 |
|---|---|
| Loan amount | $251,756 |
| Principal and interest | $1,694 |
| Property taxes (0.37% a year) | $79 |
| Homeowners insurance (our estimate, 0.5% a year) | $107 |
| FHA mortgage insurance | $113 |
| Total per month | $1,993 |
Change the numbers in the calculator
Questions about home buying in Tropic
What is the median home value in Tropic?
About $256,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Tropic?
Homeowners pay a median $953 a year, which is about 0.37% 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 Tropic?
For the median home with 20% down at 7.11%, the payment is about $1,566 a month. Keeping that under 28% of gross income takes about $67,104 a year.
More about Tropic
- Mortgage Refinance in Tropic
- Debt Relief in Tropic
- Home Equity Loans in Tropic
- 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