Mortgage payment estimates, closing cost breakdowns, and homebuying data for Draper, Utah.
Median Home Price
$575K
Population
50K
Avg Monthly Rent
$1,750
Property Tax Rate
0.58% *
* Property tax shown is the Utah state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Draper.
Draper vs Utah Median
The median home price in Draper is $575,000, which is 20% above the Utah state median of $480,000.
Mortgage Calculator — Draper, UT
Pre-filled with Draper median home price and Utah tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $575K home using Utah's 0.58% tax rate and $1,200/yr insurance.
5% Down
$4,149/mo
Down: $28,750
Loan: $546K
P&I: $3,453
Tax: $278
Insurance: $100
PMI: $319
10% Down
$3,951/mo
Down: $57,500
Loan: $518K
P&I: $3,271
Tax: $278
Insurance: $100
PMI: $302
20% Down (No PMI)
$3,285/mo
Down: $115,000
Loan: $460K
P&I: $2,908
Tax: $278
Insurance: $100
Income needed (28% rule): $141K/year with 20% down, $169K/year with 10% down.
Rent vs Buy in Draper
Rent
$1,750/mo
vs
Buy (10% down)
$3,951/mo
Price-to-rent ratio: 27.4 — At a ratio above 20, renting may be more economical in Draper for shorter stays. Buying costs $2,201 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Draper is $575,000, 20% above the Utah state median of $480,000. With a population of 49,846, Draper is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Utah average 0.58% annually. This low property tax rate is a significant advantage for Draper buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Utah runs approximately $1,200 per year. This is within the normal range nationally.
Average rent in Draper is $1,750/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Draper is a higher-cost market. At $575K median, buyers need significant savings or strong income. Down payment assistance through Utah's UHC FirstHome Loan program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Draper.