The typical owner-occupied home in Mayfield is worth about $316,000, 35% below the Utah median of $489,400 and 5% below the national median of $332,700. Owners pay a median $1,816 a year in property taxes, about 0.57% of their home's value, higher than the Utah rate of 0.52%. The median household earns $80,000 a year, so the median home costs 4.0 times the median income (5.1 times for Utah). 93% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
Mayfield at a glance
| Mayfield | Utah | U.S. | |
|---|---|---|---|
| Median home value | $316,000 | $489,400 | $332,700 |
| Median property tax paid per year | $1,816 | $2,525 | $3,119 |
| Property tax as a share of value | 0.57% | 0.52% | 0.94% |
| Median household income | $80,000 | $95,166 | $80,734 |
| Homes lived in by their owners | 93% | 70% | 65% |
| Owner homes with a mortgage | 55% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,433 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 16.9% | 20.5% | 21.0% |
| Median rent | $618 | $1,496 | $1,413 |
| Rent as a share of renters' income | 17.8% | 28.9% | 30.6% |
| Median year homes were built | 1977 | 1992 | 1980 |
| Vacant homes | 22.7% | 8.1% | 10.1% |
| Population | 384 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Mayfield
At this week's average 30-year rate of 7.11%, buying the median Mayfield home of $316,000 with 20% down costs about $1,982 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,509, 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 $84,959 for the 20%-down payment. That payment is 30% of the median Mayfield household income of $80,000; at that income and 20% down, the 28% guideline points to a home of about $298,000.
The median rent here is $618 a month, so owning the median home costs about $1,364 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $63,200 |
|---|---|
| Loan amount | $252,800 |
| Principal and interest | $1,701 |
| Property taxes (0.57% a year) | $150 |
| Homeowners insurance (our estimate, 0.5% a year) | $132 |
| PMI | $0 |
| Total per month | $1,982 |
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| Down payment | $11,060 |
|---|---|
| Loan amount | $310,276 |
| Principal and interest | $2,087 |
| Property taxes (0.57% a year) | $150 |
| Homeowners insurance (our estimate, 0.5% a year) | $132 |
| FHA mortgage insurance | $140 |
| Total per month | $2,509 |
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Questions about home buying in Mayfield
What is the median home value in Mayfield?
About $316,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mayfield?
Homeowners pay a median $1,816 a year, which is about 0.57% 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 Mayfield?
For the median home with 20% down at 7.11%, the payment is about $1,982 a month. Keeping that under 28% of gross income takes about $84,959 a year.
More about Mayfield
- Mortgage Refinance in Mayfield
- Debt Relief in Mayfield
- Home Equity Loans in Mayfield
- 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