The typical owner-occupied home in Herriman is worth about $590,700, 21% above the Utah median of $489,400 and 78% above the national median of $332,700. Owners pay a median $3,484 a year in property taxes, about 0.59% of their home's value, higher than the Utah rate of 0.52%. The median household earns $122,650 a year, so the median home costs 4.8 times the median income (5.1 times for Utah). 79% of occupied homes here are lived in by their owners, and 82% of those owners still have a mortgage.
Herriman at a glance
| Herriman | Utah | U.S. | |
|---|---|---|---|
| Median home value | $590,700 | $489,400 | $332,700 |
| Median property tax paid per year | $3,484 | $2,525 | $3,119 |
| Property tax as a share of value | 0.59% | 0.52% | 0.94% |
| Median household income | $122,650 | $95,166 | $80,734 |
| Homes lived in by their owners | 79% | 70% | 65% |
| Owner homes with a mortgage | 82% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $2,423 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 22.1% | 20.5% | 21.0% |
| Median rent | $2,019 | $1,496 | $1,413 |
| Rent as a share of renters' income | 30.8% | 28.9% | 30.6% |
| Median year homes were built | 2013 | 1992 | 1980 |
| Vacant homes | 2.3% | 8.1% | 10.1% |
| Population | 59,346 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Herriman
At this week's average 30-year rate of 7.11%, buying the median Herriman home of $590,700 with 20% down costs about $3,715 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,700, 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 $159,235 for the 20%-down payment. That payment is 36% of the median Herriman household income of $122,650; at that income and 20% down, the 28% guideline points to a home of about $455,000.
The median rent here is $2,019 a month, so owning the median home costs about $1,696 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $118,140 |
|---|---|
| Loan amount | $472,560 |
| Principal and interest | $3,179 |
| Property taxes (0.59% a year) | $290 |
| Homeowners insurance (our estimate, 0.5% a year) | $246 |
| PMI | $0 |
| Total per month | $3,715 |
Change the numbers in the calculator
| Down payment | $20,674 |
|---|---|
| Loan amount | $580,001 |
| Principal and interest | $3,902 |
| Property taxes (0.59% a year) | $290 |
| Homeowners insurance (our estimate, 0.5% a year) | $246 |
| FHA mortgage insurance | $261 |
| Total per month | $4,700 |
Change the numbers in the calculator
Questions about home buying in Herriman
What is the median home value in Herriman?
About $590,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Herriman?
Homeowners pay a median $3,484 a year, which is about 0.59% 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 Herriman?
For the median home with 20% down at 7.11%, the payment is about $3,715 a month. Keeping that under 28% of gross income takes about $159,235 a year.
More about Herriman
- Mortgage Refinance in Herriman
- Debt Relief in Herriman
- Home Equity Loans in Herriman
- 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