Can I Afford a $200K Home in Utah?
Complete mortgage breakdown for a $200,000 home in Utah, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$1,248/mo
P&I: $1,051 + Tax: $97 + Insurance: $100
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $6,000 | $1,552 | $66,512 |
| 5% | $10,000 | $1,524 | $65,314 |
| 10% | $20,000 | $1,454 | $62,320 |
| 20% | $40,000 | $1,248 | $53,475 |
Monthly Cost Breakdown (Utah)
Principal & Interest
$1,051/mo
Property Tax (0.58%)
$97/mo
Homeowners Insurance
$100/mo
Total Interest (30-yr)
$218,391
Affordability Rules of Thumb
28% Rule (Housing)
$53,475/yr
Minimum gross income
36% Rule (All Debt)
$41,592/yr
If no other debt
3Ã Income Rule
$66,667/yr
Conservative target
Buying a $200K Home in Utah
A $200,000 home in Utah is at or below the national median home price. With a 20% down payment of $40,000, your estimated monthly payment of $1,248 is achievable on a salary of $53,475 or more. Utah's property tax rate of 0.58% is relatively low, helping keep costs down.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in Utah.