Housing market snapshot: Utah
Wasatch Front pricing (Salt Lake, Utah County, Davis, Weber) leads the state after years of strong in-migration. Recreation-adjacent towns carry additional premiums. An indicative median near $530,000 places Utah in a higher-cost cohort. Down payment size and PMI (or MIP) choices often matter as much as the note rate.
Property taxes and homestead notes
Utah's average effective property tax rate of roughly 0.52% sits below the national midpoint, so taxes often take a smaller slice of PITI than in high-tax states — though your county can still differ. Property tax rates are comparatively moderate. Primary residence valuations and local levies still warrant parcel-level checks.
Homeowners insurance in Utah
Indicative average homeowners insurance around $1,100/year is comparatively contained, but shop quotes for your ZIP — carriers price risk locally. Wildfire risk in foothill and mountain communities matters. Earthquake coverage is often a separate consideration in Utah.
Worked payment example
Using Utah's indicative median of $530,000, a 20% down payment of $106,000, a 6.75% rate, and local tax/insurance defaults, principal and interest is about $2,750 with a full monthly payment near $3,071 (including roughly $230 tax and $92 insurance). With only 5% down ($26,500), the same price point jumps to about $3,818 per month because the loan is larger and PMI is typically required — roughly $231 of that total.
A common comfort check is keeping total housing cost near 28% of gross income. At $3,071/month, that implies ballpark gross income around $131,631 per year before other debts. Run your real income and debts through our home affordability calculator rather than relying on this rule of thumb alone.
Adjust the calculator above, or open the home affordability calculator with your income and debts. Methodology details are on how we calculate.
Buyer programs to research in Utah
- Utah Housing Corporation programs
- First-time buyer assistance through UHC
- Local assistance in high-cost Wasatch Front cities
Eligibility, funding, and income limits change. Confirm details with the program administrator or a participating lender before relying on assistance in your offer.
Practical tips for Utah buyers
- Ask about earthquake endorsement availability and cost.
- HOA dues in newer suburban Utah County communities add up.
- Wildfire interface homes need insurance clarity early.
Figures on this page are educational estimates for Utah, not a lender quote. County tax assessors, insurance agents, and licensed mortgage professionals can confirm the numbers for a specific address. See our methodology page for the formulas and assumptions behind every estimate.