The typical owner-occupied home in Midway is worth about $892,800, 82% above the Utah median of $489,400 and 2.7 times the national median of $332,700. Owners pay a median $4,490 a year in property taxes, about 0.50% of their home's value, close to the Utah rate of 0.52%. The median household earns $157,065 a year, so the median home costs 5.7 times the median income (5.1 times for Utah). 84% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Midway at a glance
| Midway | Utah | U.S. | |
|---|---|---|---|
| Median home value | $892,800 | $489,400 | $332,700 |
| Median property tax paid per year | $4,490 | $2,525 | $3,119 |
| Property tax as a share of value | 0.50% | 0.52% | 0.94% |
| Median household income | $157,065 | $95,166 | $80,734 |
| Homes lived in by their owners | 84% | 70% | 65% |
| Owner homes with a mortgage | 64% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $3,072 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 18.9% | 20.5% | 21.0% |
| Median rent | $3,399 | $1,496 | $1,413 |
| Rent as a share of renters' income | 25.6% | 28.9% | 30.6% |
| Median year homes were built | 2006 | 1992 | 1980 |
| Vacant homes | 15.0% | 8.1% | 10.1% |
| Population | 6,171 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Midway
At this week's average 30-year rate of 7.11%, buying the median Midway home of $892,800 with 20% down costs about $5,549 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,180, 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 $237,803 for the 20%-down payment. That payment is 42% of the median Midway household income of $157,065; at that income and 20% down, the 28% guideline points to a home of about $590,000.
The median rent here is $3,399 a month, so owning the median home costs about $2,150 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $178,560 |
|---|---|
| Loan amount | $714,240 |
| Principal and interest | $4,805 |
| Property taxes (0.50% a year) | $372 |
| Homeowners insurance (our estimate, 0.5% a year) | $372 |
| PMI | $0 |
| Total per month | $5,549 |
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| Down payment | $31,248 |
|---|---|
| Loan amount | $876,629 |
| Principal and interest | $5,897 |
| Property taxes (0.50% a year) | $372 |
| Homeowners insurance (our estimate, 0.5% a year) | $372 |
| FHA mortgage insurance | $538 |
| Total per month | $7,180 |
Change the numbers in the calculator
Questions about home buying in Midway
What is the median home value in Midway?
About $892,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Midway?
Homeowners pay a median $4,490 a year, which is about 0.50% 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 Midway?
For the median home with 20% down at 7.11%, the payment is about $5,549 a month. Keeping that under 28% of gross income takes about $237,803 a year.
More about Midway
- Mortgage Refinance in Midway
- Debt Relief in Midway
- Home Equity Loans in Midway
- 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