Calculate your monthly mortgage payment in Utah using the 2026 median home price of $575K and current local rates. Adjust the inputs below. Formula shown, sources cited โ no account required.
Utah's housing market has been one of the fastest-moving in the country over the past decade, pushing the median home price to $575,000 โ well above national norms. The Wasatch Front corridor from Ogden through Salt Lake City to Provo has driven that appreciation, fueled by tech industry growth and in-migration from higher-cost western states. The state's cost-of-living index of 99.5 sits nearly at the national baseline, meaning buyers are paying premium prices without the typical offset of below-average living costs elsewhere. Property taxes run at a low 0.63%, which partially cushions the monthly payment burden โ on a $575,000 home, that amounts to about $302 per month. Average closing costs sit at 1.3%, or roughly $7,500 on a median purchase. First-time buyers can tap the Utah Housing FirstHome Loan and UHC Score Loan programs for below-market rate options with down payment assistance structures. Use a mortgage calculator with the 6.51% average rate to see what a $517,500 loan actually costs per month before committing to a price range.
How Mortgage Payments Work in Utah
A standard mortgage payment in Utah is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]
Where P is the loan principal, r is the monthly interest rate (annual rate รท 12), and n is the number of monthly payments. On a $575K home in Utah with a 10% down payment at 6.51% over 30 years, your principal and interest payment comes to approximately $3,274/monthโ not including property taxes or homeowner's insurance.
Utah's property tax rate of 0.63% adds roughly $302/month to your total housing cost on a $575K home. This rate is below the national average of ~1.1%, which helps keep total housing costs lower.
Utah vs. National Average
| Metric | Utah | National Avg |
|---|
| Median Home Price | $575,000 | $420,000 |
| Property Tax Rate | 0.63% | 1.07% |
| Avg Mortgage Rate | 6.51% | 6.85% |
| Cost of Living Index | 99.5 | 100 |