Utah Mortgage Calculator
Estimate your monthly mortgage payment in Utah based on the state median home price of $480K, a 0.58% property tax rate, and $1K/year homeowners insurance.
Why This Matters in Utah
In Utah, property taxes average 0.58% of assessed value. On the state median home of $480K, that adds $232/month to your mortgage payment — well below the national average, giving you more purchasing power. Combined with $100/month for homeowners insurance, your non-mortgage housing costs in Utah total $332/month before you even account for principal and interest.
Utah's median home price of $480K places it among the more expensive states. Buyers here benefit from shopping multiple lenders aggressively — even a 0.25% rate difference saves $90/month on the median home.
What to Expect for a Mortgage Payment in Utah
On the median Utah home priced at $480K, a buyer putting 10% down at a 6.5% rate would face a principal-and-interest payment of roughly $2,731 per month. Add $232/mo in property taxes and $100/mo for homeowners insurance, and the total PITI comes to approximately $3,063 each month. That median price sits about 37% above the national median of roughly $350K, which directly shapes how much house most Utah borrowers can realistically target.
Because Utah is a higher-cost market, many buyers will encounter conforming loan limits more quickly. In counties where the median exceeds the standard conforming cap, jumbo loans become necessary — typically requiring at least 10–20% down, stronger credit scores, and larger cash reserves. A 20% down payment on the $480K median home means bringing $96K to the table, which pushes the monthly P&I down to about $2,427. For many Utah buyers, saving for that larger down payment is the single biggest hurdle.
Utah homeowners benefit from a notably low property tax rate of just 0.58%, translating to about $2,784 per year on the median home. That is just $232 per month — a fraction of what buyers pay in high-tax states like New Jersey or Illinois. This lower tax burden effectively makes Utah housing more affordable than the sticker price alone suggests.
Homeowners insurance in Utah averages around $1K per year, which adds $100 to the monthly PITI. This is manageable relative to many other states. To bring the total payment down further, consider the UHC FirstHome Loan program, which offers up to 6% dpa second for qualifying buyers — reducing the down payment barrier and potentially lowering your loan amount.