Mortgage on a $550K house in Utah
$3,466 a month with 20% down — $2,960 principal and interest plus $231 property tax and $275 insurance.
Utah's typical property tax is 0.5% of the home's value a year (U.S. average 0.9%), which adds $231 a month on a $550K home. The typical home in Utah is worth $532,920, so $550K is 3% above the typical price.
$550K home in Utah: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $110,000 | $440,000 | $2,960 | $0 | $506 | $3,466 | $148,500 |
| 10% down | $55,000 | $495,000 | $3,330 | $206 | $506 | $4,042 | $173,200 |
| 5% down | $27,500 | $522,500 | $3,515 | $218 | $506 | $4,239 | $181,700 |
| 3.5% down (FHA) | $19,250 | $540,038 | $3,633 | $243 | $506 | $4,382 | $187,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.5% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Utah does $550K buy a typical home?
In these counties the typical home value is within 15% of $550K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Davis County | $553,103 | 0.53% | $3,477 |
| Utah County | $540,291 | 0.44% | $3,437 |
| Salt Lake County | $567,330 | 0.54% | $3,482 |
| Grand County | $568,599 | 0.41% | $3,423 |
| Washington County | $524,987 | 0.42% | $3,429 |
| Rich County | $578,199 | 0.26% | $3,353 |
| Tooele County | $475,828 | 0.57% | $3,496 |
| Cache County | $470,352 | 0.45% | $3,442 |
21 of 28 Utah counties tracked by Zillow have a typical home value at or below $550K. See all Utah home prices.
Other prices in Utah
Frequently asked questions
What is the mortgage on a $550K house in Utah?
About $3,466 a month with 20% down at 7.11%: $2,960 principal and interest, $231 property tax and $275 insurance.
How much do I need to make to buy a $550K house in Utah?
About $148,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $550K house in Utah?
At Utah's typical effective rate of 0.5%, about $2,771 a year. Rates vary by county and city — see the county pages.