Typical Utah mortgage payment
The median home price in Utah is roughly $540,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $4,270 | $2,899 |
| 5.50% | $4,412 | $3,066 |
| 6.00% | $4,557 | $3,238 |
| 6.50% | $4,704 | $3,413 |
| 7.00% | $4,854 | $3,593 |
| 7.50% | $5,006 | $3,776 |
| 8.00% | $5,161 | $3,962 |
| 8.50% | $5,318 | $4,152 |
| 9.00% | $5,477 | $4,345 |
| 9.50% | $5,639 | $4,541 |
| 10.00% | $5,803 | $4,739 |
What a Utah mortgage really costs (PITI)
Principal & interest alone would run about $3,413/month at 6.50% over 30 years. But Utah's property tax - roughly 0.63% of home value per year here - adds about $284/month, and estimated homeowners insurance adds around $158/month. Your real total monthly payment (PITI) on a $540,000 Utah home is closer to $3,854/month.
Using the standard 28%-of-income guideline, comfortably affording this home takes a household income around $165,179/year. A 20% down payment here is $108,000.
Utah vs. its neighbors
Of Utah and its neighbors, Wyoming has the lowest estimated total monthly payment - about $1,362 less per month than Utah.
| State | Median price | Property tax rate | Est. total monthly (PITI) |
|---|---|---|---|
| Wyoming | $350,000 | 0.61% | $2,492/mo |
| Arizona | $430,000 | 0.66% | $3,080/mo |
| Idaho | $450,000 | 0.69% | $3,234/mo |
| Nevada | $450,000 | 0.60% | $3,201/mo |
| Utah (this page) | $540,000 | 0.63% | $3,854/mo |
| Colorado | $545,000 | 0.51% | $3,835/mo |
What affects your Utah payment?
- Property tax above is a statewide estimate - your county's actual rate may differ.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price, property tax rate and insurance are approximate estimates, not county-specific figures. Not financial advice.