The typical owner-occupied home in Redmond is worth about $267,700, 45% below the Utah median of $489,400 and 20% below the national median of $332,700. Owners pay a median $1,543 a year in property taxes, about 0.58% of their home's value, higher than the Utah rate of 0.52%. The median household earns $77,083 a year, so the median home costs 3.5 times the median income (5.1 times for Utah). 90% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Redmond at a glance
| Redmond | Utah | U.S. | |
|---|---|---|---|
| Median home value | $267,700 | $489,400 | $332,700 |
| Median property tax paid per year | $1,543 | $2,525 | $3,119 |
| Property tax as a share of value | 0.58% | 0.52% | 0.94% |
| Median household income | $77,083 | $95,166 | $80,734 |
| Homes lived in by their owners | 90% | 70% | 65% |
| Owner homes with a mortgage | 58% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,304 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 20.3% | 20.5% | 21.0% |
| Median rent | – | $1,496 | $1,413 |
| Rent as a share of renters' income | 12.2% | 28.9% | 30.6% |
| Median year homes were built | 1974 | 1992 | 1980 |
| Vacant homes | 7.1% | 8.1% | 10.1% |
| Population | 767 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Redmond
At this week's average 30-year rate of 7.11%, buying the median Redmond home of $267,700 with 20% down costs about $1,682 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,128, 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 $72,069 for the 20%-down payment. That payment is 26% of the median Redmond household income of $77,083; at that income and 20% down, the 28% guideline points to a home of about $286,000.
| Down payment | $53,540 |
|---|---|
| Loan amount | $214,160 |
| Principal and interest | $1,441 |
| Property taxes (0.58% a year) | $129 |
| Homeowners insurance (our estimate, 0.5% a year) | $112 |
| PMI | $0 |
| Total per month | $1,682 |
Change the numbers in the calculator
| Down payment | $9,370 |
|---|---|
| Loan amount | $262,851 |
| Principal and interest | $1,768 |
| Property taxes (0.58% a year) | $129 |
| Homeowners insurance (our estimate, 0.5% a year) | $112 |
| FHA mortgage insurance | $118 |
| Total per month | $2,128 |
Change the numbers in the calculator
Questions about home buying in Redmond
What is the median home value in Redmond?
About $267,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Redmond?
Homeowners pay a median $1,543 a year, which is about 0.58% 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 Redmond?
For the median home with 20% down at 7.11%, the payment is about $1,682 a month. Keeping that under 28% of gross income takes about $72,069 a year.
More about Redmond
- Mortgage Refinance in Redmond
- Debt Relief in Redmond
- Home Equity Loans in Redmond
- 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