Mortgage Calculator & Closing Costs: Springville, UT
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Springville, Utah.
Median Home Price
$435K
Population
35K
Avg Monthly Rent
$1,420
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 Springville.
Springville vs Utah Median
The median home price in Springville is $435,000, which is 9% below the Utah state median of $480,000.
Mortgage Calculator — Springville, UT
Pre-filled with Springville median home price and Utah tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $435K home using Utah's 0.58% tax rate and $1,200/yr insurance.
5% Down
$3,163/mo
Down: $21,750
Loan: $413K
P&I: $2,612
Tax: $210
Insurance: $100
PMI: $241
10% Down
$3,013/mo
Down: $43,500
Loan: $392K
P&I: $2,475
Tax: $210
Insurance: $100
PMI: $228
20% Down (No PMI)
$2,510/mo
Down: $87,000
Loan: $348K
P&I: $2,200
Tax: $210
Insurance: $100
Income needed (28% rule): $108K/year with 20% down, $129K/year with 10% down.
Rent vs Buy in Springville
Rent
$1,420/mo
vs
Buy (10% down)
$3,013/mo
Price-to-rent ratio: 25.5 — At a ratio above 20, renting may be more economical in Springville for shorter stays. Buying costs $1,593 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 Springville is $435,000, 9% below the Utah state median of $480,000. With a population of 34,736, Springville is a smaller market where home prices tend to be more accessible than in many parts of Utah.
Property taxes in Utah average 0.58% annually. This low property tax rate is a significant advantage for Springville 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 Springville is $1,420/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.
Springville is a higher-cost market. At $435K 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 Springville.