Mortgage Calculator for Utah — Includes Property Tax & Insurance
In Utah, the median home costs $540,000, and property taxes there are among the lowest in the country at an average of 0.58% of assessed value — which adds roughly $261 to the monthly payment on a median-priced Utah home. Homeowners insurance in Utah averages $1,100 a year ($92/month), below the national average. Putting 20% down at Utah's typical 30-year fixed rate of 7%, your full PITI payment — principal, interest, taxes, and insurance — comes to about $3,227 per month. The calculator below is pre-filled with these Utah figures so you can adjust any input and see the impact instantly.
A buyer earning Utah's median household income of $82,000 would dedicate roughly 47% of gross monthly income to housing — significantly strained by the standard 28% guideline.
Median Home Price
$540,000
Avg 30-yr Rate
7%
Property Tax Rate
0.58%/yr
Est. Monthly PITI
$3,227
Mortgage Calculator
Total Monthly Payment
$3,226.77
Loan Amount
$432,000
Total Paid
$1,034,678
Total Interest
$602,678
How to Get a Mortgage in Utah
- 1 Check your credit score. In Utah, most conventional lenders require 620+; FHA allows 580+ with 3.5% down.
- 2 Save for your down payment. On a $540,000 Utah home, 20% down is $108,000 — avoiding PMI and reducing your monthly payment.
- 3 Get pre-approved from 2–3 lenders. Rates in Utah average 7%, but shopping lenders often saves 0.25–0.5%.
- 4 Account for closing costs — typically 2–5% of the loan amount, or $12,960–$21,600 on a median Utah purchase.
- 5 Budget for ongoing costs: Utah property taxes average 0.58%/yr ($3,132/yr on the median home), plus homeowner's insurance averaging $1,100/yr.
Monthly Cost Breakdown — Median Utah Home
Excludes HOA fees, PMI (not required with 20% down), and utilities.
Utah Mortgage FAQs
What is the average home price in Utah?
The median home price in Utah is $540,000 (2024 estimate). With a typical 20% down payment of $108,000, a buyer would finance $432,000 at a 30-year fixed rate.
What are property taxes like in Utah?
Utah has an average effective property tax rate of 0.58% of assessed home value. On a $540,000 home, that's approximately $3,132 per year ($261/month) — below the national average of 1.07%.
How much income do I need to buy a home in Utah?
To keep housing costs at or below the recommended 28% of gross monthly income on a median-priced Utah home, you'd need to earn roughly $138,290 per year. The state's median household income is $82,000, meaning the typical household allocates about 47% of gross income to housing — significantly strained.
What is the average mortgage rate in Utah?
The average 30-year fixed mortgage rate in Utah is approximately 7% (2024 average). Rates vary by lender, credit score, loan-to-value ratio, and loan type. Borrowers with credit scores above 740 typically qualify for the best available rates.
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