The typical owner-occupied home in Oak City is worth about $247,000, 50% below the Utah median of $489,400 and 26% below the national median of $332,700. Owners pay a median $1,225 a year in property taxes, about 0.50% of their home's value, close to the Utah rate of 0.52%. The median household earns $73,479 a year, so the median home costs 3.4 times the median income (5.1 times for Utah). 91% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Oak City at a glance
| Oak City | Utah | U.S. | |
|---|---|---|---|
| Median home value | $247,000 | $489,400 | $332,700 |
| Median property tax paid per year | $1,225 | $2,525 | $3,119 |
| Property tax as a share of value | 0.50% | 0.52% | 0.94% |
| Median household income | $73,479 | $95,166 | $80,734 |
| Homes lived in by their owners | 91% | 70% | 65% |
| Owner homes with a mortgage | 63% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,172 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 17.0% | 20.5% | 21.0% |
| Median rent | – | $1,496 | $1,413 |
| Median year homes were built | 1974 | 1992 | 1980 |
| Vacant homes | 9.1% | 8.1% | 10.1% |
| Population | 854 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Oak City
At this week's average 30-year rate of 7.11%, buying the median Oak City home of $247,000 with 20% down costs about $1,535 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,947, 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 $65,790 for the 20%-down payment. That payment is 25% of the median Oak City household income of $73,479; at that income and 20% down, the 28% guideline points to a home of about $276,000.
| Down payment | $49,400 |
|---|---|
| Loan amount | $197,600 |
| Principal and interest | $1,329 |
| Property taxes (0.50% a year) | $103 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| PMI | $0 |
| Total per month | $1,535 |
Change the numbers in the calculator
| Down payment | $8,645 |
|---|---|
| Loan amount | $242,526 |
| Principal and interest | $1,631 |
| Property taxes (0.50% a year) | $103 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| FHA mortgage insurance | $109 |
| Total per month | $1,947 |
Change the numbers in the calculator
Questions about home buying in Oak City
What is the median home value in Oak City?
About $247,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Oak City?
Homeowners pay a median $1,225 a year, which is about 0.50% 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 Oak City?
For the median home with 20% down at 7.11%, the payment is about $1,535 a month. Keeping that under 28% of gross income takes about $65,790 a year.
More about Oak City
- Mortgage Refinance in Oak City
- Debt Relief in Oak City
- Home Equity Loans in Oak City
- 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