CALCMONEY // HOME AFFORDABILITY // UT
Find out how much home you can afford in Utah using local median home prices, current mortgage rates, and UT-specific property tax data.
Open Full Calculator$505,000
$3,136/mo
$261,816
$134,412/yr
| Median Home Price | $505,000 |
| Down Payment (20%) | $101,000 |
| Loan Amount | $404,000 |
| Monthly PI Payment | $2,661 |
| Monthly Property Tax | $265 |
| Monthly Insurance Est. | $210 |
| Total Monthly PITI | $3,136 |
| Required Gross Income (28% rule) | $134,412/yr |
| Max Affordable Price (28% rule) | $261,816 |
$17,675
$4,030/mo
Utah Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $505,000 | State median |
| Down Payment (20%) | $101,000 | Conventional |
| Monthly PITI (median home) | $3,136 | 6.9% rate |
| Required Income (28% rule) | $134,412 | Annual gross |
| Max Affordable Home | $261,816 | Based on median income |
| FHA Down Payment (3.5%) | $17,675 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Utah is $505,000, with a current 30-year fixed mortgage rate of 6.9%. A buyer putting 20% down on the median home would carry a loan of $404,000, resulting in a monthly principal and interest payment of $2,661. Once property taxes and insurance are added, total monthly housing costs reach $3,136.
Property taxes in Utah average 0.63%, well below the national average of 1.1%. On the median Utah home, property taxes add $265/month to total housing costs.
Utah levies a state income tax of 4.65% flat, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Utah state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Utah's median income of $79,500/year can afford up to $1,855/month in total housing costs (principal, interest, taxes, and insurance). Based on Utah's current mortgage rate of 6.9% and property tax rate of 0.63%, that translates to a maximum affordable home price of approximately $261,816 with 20% down on a 30-year loan.
To comfortably afford the median Utah home priced at $505,000, you need an annual gross income of approximately $134,412. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $2,661, property taxes of $265, and insurance of $210) come to $3,136/month, which should not exceed 28% of your gross monthly income.
Utah's average property tax rate is 0.63%, which is well below the national average of 1.1%. On the median Utah home of $505,000, that means annual property taxes of $3,182, or $265/month. Because lenders include property taxes in your debt-to-income calculation, Utah's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Utah home of $505,000, that is $17,675. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($101,000 on the median Utah home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Utah-specific minimum down payment requirements beyond federal guidelines.