Keys & Cents
Salt Lake City metro · Census ACS 2024

What a home really costs in Salt Lake County, UT

A median-priced home in the Salt Lake City area runs about $5,080 a month all-in, not the $3,608 mortgage payment you’ll see quoted. Here’s the full breakdown, using real public data.

Median home value$583,600
Median property tax paid$2,948/yr
Effective tax rate (approx.)0.51%
Median gross rent$1,666/mo

The local math, in plain English

Salt Lake County’s median home value of $583,600 is about 62% above the U.S. median of $360,600, and its property tax burden (~0.51% of value) is lower than the national typical (~0.89%). It has one of the lightest property tax burdens among the 25 (#22 of 25).

In our example, costs beyond principal and interest make up 29% of the monthly bill: property tax alone is about $248 a month, and PMI adds $263 until you reach about 22% equity.

Existing owners with a mortgage here reported median monthly owner costs of $2,217 (ACS table B25088, which counts mortgage, taxes, insurance, utilities and fees). Many of them bought years ago at lower prices or rates, so a buyer today at the median value should plan on a bigger number: about $5,080 in our example.

For comparison, the median gross rent (rent plus utilities) in Salt Lake County was $1,666 a month. For a 3-bedroom, closer in size to the typical owned home, it was $2,018. In our rent vs buy calculator, using its default assumptions (4.3% appreciation, 3.3% rent growth, 6% investment return, 7.32% rate), buying doesn’t catch up within 30 years; after 30 years renting is ahead by about $910,000. That’s a model output, not a forecast: a lower rate or a lower investment return can change it, so try your own numbers.

Example: median home, 10% down

Principal & interest$3,608
Property tax$248
Home insurance*$200
PMI*$263
Maintenance reserve*$486
Utilities*$275
All-in monthly$5,080

$583,600 price · $58,360 down · 7.32% 30-yr fixed · tax 0.51%. *Keys & Cents assumptions, not local data.

Estimates only. Not financial advice. Terms

Sterling says: Income needed to keep this at 28% of gross pay: about $185,000/yr. Local median household income: $99,353.

Run your own Salt Lake City-area numbers

The home
$
%
The costs nobody quotes you
%/yr
$/yr
$/mo
%/yr
%/yr
$/mo

Your true monthly cost

–

The lender will quote about – (taxes and insurance usually via ). Mortgage alone: –. Per year: –.

  • Principal & interest–
  • Property tax–
  • Home insurance–
  • HOA dues–
  • PMI (mortgage insurance)–
  • Maintenance reserve–
  • Utilities–
  • All-in monthly–

Down payment – · Loan –

Estimates only. Not financial advice. Terms

Sterling says: Tallying it all up…

Plan the whole purchase with the $19 Planner →

Salt Lake County home cost FAQ

What is the median home value in Salt Lake County, UT?

The median value of owner-occupied homes in Salt Lake County, UT was $583,600 according to the U.S. Census Bureau’s American Community Survey 2024 1-year estimates (table B25077).

What is the property tax rate in Salt Lake County, UT?

The median real estate tax paid in Salt Lake County, UT was $2,948 a year (ACS 2024, table B25103). Divided by the median home value, that works out to an effective rate of roughly 0.51%, compared with about 0.89% nationally. Your actual bill depends on your assessment and exemptions.

What does a median-priced home in Salt Lake County, UT cost per month?

With 10% down at a 7.32% 30-year rate (Freddie Mac average, October 22, 2026), a $583,600 home costs about $3,608 a month in principal and interest, but about $5,080 a month all-in once property tax, insurance, PMI, maintenance and utilities are included.

How much income do I need to buy a home in Salt Lake County, UT?

To keep the lender-style housing payment ($4,319/mo in our example) at 28% of gross income with no other debts, you’d need roughly $185,000 a year. The median household income in Salt Lake County, UT was $99,353 (ACS 2024, table B19013).

Sources & method

  • Median home value, real estate taxes, gross rent, household income and owner costs: U.S. Census Bureau, American Community Survey 2024 1-year estimates (tables B25077, B25103, B25064, B19013, B25088), retrieved via the Census Reporter API. Margins of error (90%): home value ±$8,645, taxes ±$50.
  • Effective tax rate is our approximation: median taxes paid ÷ median home value. It is not an official rate.
  • Mortgage rate: Freddie Mac Primary Mortgage Market Survey, 30-year fixed average of 7.32% for the week of October 22, 2026.
  • Our assumptions (not local data): 10% down, homeowners insurance $2,400/yr, PMI 0.6% of the loan per year, maintenance 1% of value per year, no HOA. Utilities are $275/mo everywhere, the national Census ACS 2024 PUMS median for owner-occupied 3-bedroom homes (not a local figure). Local insurance and utility costs vary, so get real quotes.
  • Last updated 2026-10-24. Full methodology.