The typical owner-occupied home in Laketown is worth about $405,600, 17% below the Utah median of $489,400 and 22% above the national median of $332,700. Owners pay a median $943 a year in property taxes, about 0.23% of their home's value, lower than the Utah rate of 0.52%. The median household earns $79,211 a year, so the median home costs 5.1 times the median income (5.1 times for Utah). 97% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Laketown at a glance
| Laketown | Utah | U.S. | |
|---|---|---|---|
| Median home value | $405,600 | $489,400 | $332,700 |
| Median property tax paid per year | $943 | $2,525 | $3,119 |
| Property tax as a share of value | 0.23% | 0.52% | 0.94% |
| Median household income | $79,211 | $95,166 | $80,734 |
| Homes lived in by their owners | 97% | 70% | 65% |
| Owner homes with a mortgage | 64% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,769 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 22.9% | 20.5% | 21.0% |
| Median rent | – | $1,496 | $1,413 |
| Median year homes were built | 1988 | 1992 | 1980 |
| Vacant homes | 28.6% | 8.1% | 10.1% |
| Population | 437 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Laketown
At this week's average 30-year rate of 7.11%, buying the median Laketown home of $405,600 with 20% down costs about $2,430 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,105, 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 $104,123 for the 20%-down payment. That payment is 37% of the median Laketown household income of $79,211; at that income and 20% down, the 28% guideline points to a home of about $309,000.
| Down payment | $81,120 |
|---|---|
| Loan amount | $324,480 |
| Principal and interest | $2,183 |
| Property taxes (0.23% a year) | $78 |
| Homeowners insurance (our estimate, 0.5% a year) | $169 |
| PMI | $0 |
| Total per month | $2,430 |
Change the numbers in the calculator
| Down payment | $14,196 |
|---|---|
| Loan amount | $398,254 |
| Principal and interest | $2,679 |
| Property taxes (0.23% a year) | $78 |
| Homeowners insurance (our estimate, 0.5% a year) | $169 |
| FHA mortgage insurance | $179 |
| Total per month | $3,105 |
Change the numbers in the calculator
Questions about home buying in Laketown
What is the median home value in Laketown?
About $405,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Laketown?
Homeowners pay a median $943 a year, which is about 0.23% 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 Laketown?
For the median home with 20% down at 7.11%, the payment is about $2,430 a month. Keeping that under 28% of gross income takes about $104,123 a year.
More about Laketown
- Mortgage Refinance in Laketown
- Debt Relief in Laketown
- Home Equity Loans in Laketown
- 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