Mortgage for Utah (2026)
Utah (UT) Key Facts
Median Home Price
$500,000
Average Property Tax Rate
0.63%
Average Home Insurance Rate
0.4%
Estimated Monthly Payment
$3,348
First Time Buyer Programs
2
How This Calculator Works in Utah
This mortgage calculator lets you estimate your monthly payment on a Utah home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with Utah's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
Utah Overview
Utah has a median home price of approximately $480K, with an average property tax rate of 0.63% and homeowners insurance averaging 0.4% annually. Prices rising especially in Salt Lake metro. UHC FirstHome Loan and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How Utah Compares
Compared to neighboring states, Utah's median home price of $500,000 is above the national median of about $420,000. Nearby Colorado has a median price of $540,000 with a 0.51% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Colorado | $540,000 | Median home price is $540,000 with a 0.51% property tax rate. Estimated monthly mortgage payment is about $3,629. |
| Nevada | $420,000 | Median home price is $420,000 with a 0.6% property tax rate. Estimated monthly mortgage payment is about $2,837. |
| Idaho | $440,000 | Median home price is $440,000 with a 0.69% property tax rate. Estimated monthly mortgage payment is about $3,023. |
The median home price in Utah is $500,000, compared to the national median of approximately $420,000. With a 0.63% average property tax rate and 0.4% insurance rate, Utah homeowners can expect an estimated monthly payment of about $3,348 on a median-priced home with 10% down at 6.75% interest.
Tips for Utah Residents
- 1Utah has a median home price around $480K. Prices rising especially in Salt Lake metro. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in Utah average 0.63%. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore UHC FirstHome Loan & Score program for potential down payment assistance and favorable rates. Utah also offers UHC Score Loan Program. Check income limits and eligibility early in your home search.
- 4Growing market; prices vary between Wasatch Front and rural areas. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5Strong market growth. A 0.25% rate difference on a $500K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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