Mortgage payment estimates, closing cost breakdowns, and homebuying data for Vernal, Utah.
Median Home Price
$285K
Population
11K
Avg Monthly Rent
$1,050
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 Vernal.
Vernal vs Utah Median
The median home price in Vernal is $285,000, which is 41% below the Utah state median of $480,000.
Mortgage Calculator — Vernal, UT
Pre-filled with Vernal median home price and Utah tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $285K home using Utah's 0.58% tax rate and $1,200/yr insurance.
5% Down
$2,107/mo
Down: $14,250
Loan: $271K
P&I: $1,711
Tax: $138
Insurance: $100
PMI: $158
10% Down
$2,009/mo
Down: $28,500
Loan: $257K
P&I: $1,621
Tax: $138
Insurance: $100
PMI: $150
20% Down (No PMI)
$1,679/mo
Down: $57,000
Loan: $228K
P&I: $1,441
Tax: $138
Insurance: $100
Income needed (28% rule): $72K/year with 20% down, $86K/year with 10% down.
Rent vs Buy in Vernal
Rent
$1,050/mo
vs
Buy (10% down)
$2,009/mo
Price-to-rent ratio: 22.6 — At a ratio above 20, renting may be more economical in Vernal for shorter stays. Buying costs $959 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 Vernal is $285,000, 41% below the Utah state median of $480,000. With a population of 11,124, Vernal 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 Vernal 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 Vernal is $1,050/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.
Vernal presents moderate affordability. The $285K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Vernal.