Income needed to buy a house in Utah
A median-priced home in Utah costs $545,200. With 20% down you'd need about $137,189 a year, $40,531 more than the state's median household income of $96,658. Utah ranks #44 of 51 for the lowest income needed.
Income needed: $137,189 a year
Defaults: state median home value and property tax (Census ACS 2024), median homeowners insurance paid by owners with a mortgage (Census ACS 2024; quotes vary by home and ZIP code), 30-year rate 6.95% (Freddie Mac, week of 2026-09-17).
You'd need a household income of about $137,189 a year to buy a $545,200 home in Utah with $109,040 down.
Based on lenders' 28/36 rule: housing costs under 28% of gross income, all debt under 36%.
| Monthly cost | Amount |
|---|---|
| Principal & interest | $2,887 |
| Property tax | $221 |
| Homeowners insurance | $93 |
| Total | $3,201 |
Monthly cost by down payment
| Down payment | Cash down | Monthly cost | Income needed |
|---|---|---|---|
| 5% | $27,260 | $3,958 | $169,638 |
| 10% | $54,520 | $3,766 | $161,418 |
| 20% | $109,040 | $3,201 | $137,189 |
Under 20% down includes estimated private mortgage insurance of 0.5% of the loan per year.
Buying in Utah: what's different
- Transfer tax
- None
- On the median home
- $0
- Homestead break
- 45% off market value
- First-time buyer help
- Utah Housing Corporation
- Transfer and recording taxes. Utah has no transfer tax; the county recorder charges a flat $40 to record a deed.
- Property tax breaks for your home. A primary residence is taxed on only 55% of its market value, thanks to a 45% exemption on the home and up to one acre. A home you move into partway through the year qualifies if you live there 183 or more days in a row.
- First-time buyer help. The Utah Housing Corporation offers FirstHome through participating lenders (its lowest-rate loan for first-time buyers). Check its site for income and price limits.
Checked against official sources on September 25, 2026. Local transfer taxes and exemptions vary, so confirm with the county before you close.
Home prices in the Utah metro areas we cover
| Metro area | Income needed | Median home value | Median household income |
|---|---|---|---|
| Salt Lake City, UT | $145,001 | $575,200 | $100,548 |
| Provo, UT | $145,716 | $584,600 | $101,014 |
| Ogden, UT | $128,950 | $507,500 | $98,456 |
With 20% down, the median home takes about $128,950 a year in the Ogden area and $145,716 in the Provo area, compared with $137,189 for the statewide median.
Metro medians from Census ACS 2024 cover the whole metro area, including any part in a neighboring state. Income needed: 20% down at 6.95%, the metro's median property tax and its main state's median homeowners insurance for homes with a mortgage (Census ACS 2024), under the 28% rule.
What makes owning in Utah more expensive than most states
- Home prices: the median value of $545,200 is 51% above the U.S. median of $360,600.
- Property tax: about 0.49% of value a year ($221 a month on the median home).
- Insurance: owners with a mortgage paid a median $1,119 a year for homeowners insurance in 2024 (Census ACS). Premiums have risen in most states since then, and they vary a lot by home and ZIP code, so get quotes.
- Mortgage rate: each 1-point rise in rates adds roughly $298 a month on this loan.
34 states need at least 20% less income to buy their median home. States with a similar income requirement:
- New Hampshire $132,355
- Oregon $130,842
- New York $130,169
- Rhode Island $127,223
- Colorado $148,554
- New Jersey $150,876
Frequently asked questions
How much do you need to make to buy a house in Utah?
About $137,189 a year for the median home of $545,200 with 20% down at 6.95%. With 10% down it's about $161,418.
What is the property tax rate in Utah?
The median Utah homeowner pays $2,648 a year, about 0.49% of the median home value (Census ACS 2024). Rates vary by county and city.
Is it cheaper to rent or buy in Utah?
Median rent is $1,593 a month, while owning the median home costs about $3,201 a month with 20% down, before maintenance. Renting affordably takes about $63,720 a year under the 30% rule.