The typical owner-occupied home in Torrey is worth about $407,900, 17% below the Utah median of $489,400 and 23% above the national median of $332,700. Owners pay a median $1,452 a year in property taxes, about 0.36% of their home's value, lower than the Utah rate of 0.52%. The median household earns $64,583 a year, so the median home costs 6.3 times the median income (5.1 times for Utah). 99% of occupied homes here are lived in by their owners, and 28% of those owners still have a mortgage.
Torrey at a glance
| Torrey | Utah | U.S. | |
|---|---|---|---|
| Median home value | $407,900 | $489,400 | $332,700 |
| Median property tax paid per year | $1,452 | $2,525 | $3,119 |
| Property tax as a share of value | 0.36% | 0.52% | 0.94% |
| Median household income | $64,583 | $95,166 | $80,734 |
| Homes lived in by their owners | 99% | 70% | 65% |
| Owner homes with a mortgage | 28% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,188 | $2,009 | $1,963 |
| Those costs as a share of the owners' income | 25.0% | 20.5% | 21.0% |
| Median rent | – | $1,496 | $1,413 |
| Median year homes were built | 1995 | 1992 | 1980 |
| Vacant homes | 43.1% | 8.1% | 10.1% |
| Population | 323 | 3,392,331 | 334,922,499 |
What a typical home costs per month in Torrey
At this week's average 30-year rate of 7.11%, buying the median Torrey home of $407,900 with 20% down costs about $2,488 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,167, 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 $106,608 for the 20%-down payment. That payment is 46% of the median Torrey household income of $64,583; at that income and 20% down, the 28% guideline points to a home of about $247,000.
| Down payment | $81,580 |
|---|---|
| Loan amount | $326,320 |
| Principal and interest | $2,195 |
| Property taxes (0.36% a year) | $122 |
| Homeowners insurance (our estimate, 0.5% a year) | $170 |
| PMI | $0 |
| Total per month | $2,488 |
Change the numbers in the calculator
| Down payment | $14,276 |
|---|---|
| Loan amount | $400,512 |
| Principal and interest | $2,694 |
| Property taxes (0.36% a year) | $122 |
| Homeowners insurance (our estimate, 0.5% a year) | $170 |
| FHA mortgage insurance | $180 |
| Total per month | $3,167 |
Change the numbers in the calculator
Questions about home buying in Torrey
What is the median home value in Torrey?
About $407,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Torrey?
Homeowners pay a median $1,452 a year, which is about 0.36% 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 Torrey?
For the median home with 20% down at 7.11%, the payment is about $2,488 a month. Keeping that under 28% of gross income takes about $106,608 a year.
More about Torrey
- Mortgage Refinance in Torrey
- Debt Relief in Torrey
- Home Equity Loans in Torrey
- 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