The typical owner-occupied home in Park City is worth about $1,757,800, 3.6 times the Utah median of $489,400 and 5.3 times the national median of $332,700. Owners pay a median $5,253 a year in property taxes, about 0.30% of their home's value, lower than the Utah rate of 0.52%. The median household earns $133,558 a year, so the median home costs 13.2 times the median income (5.1 times for Utah). 75% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Park City at a glance
| Park City | Utah | U.S. | |
|---|---|---|---|
| Median home value | $1,757,800 | $489,400 | $332,700 |
| Median property tax paid per year | $5,253 | $2,525 | $3,119 |
| Property tax as a share of value | 0.30% | 0.52% | 0.94% |
| Median household income | $133,558 | $95,166 | $80,734 |
| Homes lived in by their owners | 75% | 70% | 65% |
| Owner homes with a mortgage | 59% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $3,360 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 25.8% | 20.5% | 21.0% |
| Median rent | $1,943 | $1,496 | $1,413 |
| Rent as a share of renters' income | 28.0% | 28.9% | 30.6% |
| Median year homes were built | 1989 | 1992 | 1980 |
| Vacant homes | 58.7% | 8.1% | 10.1% |
| Population | 8,362 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Park City
At this week's average 30-year rate of 7.11%, buying the median Park City home of $1,757,800 with 20% down costs about $10,632 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $13,843, 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 $455,646 for the 20%-down payment. That payment is 96% of the median Park City household income of $133,558; at that income and 20% down, the 28% guideline points to a home of about $515,000.
The median rent here is $1,943 a month, so owning the median home costs about $8,689 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $351,560 |
|---|---|
| Loan amount | $1,406,240 |
| Principal and interest | $9,460 |
| Property taxes (0.30% a year) | $439 |
| Homeowners insurance (our estimate, 0.5% a year) | $732 |
| PMI | $0 |
| Total per month | $10,632 |
Change the numbers in the calculator
| Down payment | $61,523 |
|---|---|
| Loan amount | $1,725,962 |
| Principal and interest | $11,611 |
| Property taxes (0.30% a year) | $439 |
| Homeowners insurance (our estimate, 0.5% a year) | $732 |
| FHA mortgage insurance | $1,060 |
| Total per month | $13,843 |
Change the numbers in the calculator
Questions about home buying in Park City
What is the median home value in Park City?
About $1,757,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Park City?
Homeowners pay a median $5,253 a year, which is about 0.30% 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 Park City?
For the median home with 20% down at 7.11%, the payment is about $10,632 a month. Keeping that under 28% of gross income takes about $455,646 a year.
More about Park City
- Mortgage Refinance in Park City
- Debt Relief in Park City
- Home Equity Loans in Park 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