Can I Afford a $150K Home in Utah?
Complete mortgage breakdown for a $150,000 home in Utah, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$961/mo
P&I: $788 + Tax: $73 + Insurance: $100
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $4,500 | $1,189 | $50,955 |
| 5% | $7,500 | $1,168 | $50,057 |
| 10% | $15,000 | $1,116 | $47,812 |
| 20% | $30,000 | $961 | $41,178 |
Monthly Cost Breakdown (Utah)
Principal & Interest
$788/mo
Property Tax (0.58%)
$73/mo
Homeowners Insurance
$100/mo
Total Interest (30-yr)
$163,793
Affordability Rules of Thumb
28% Rule (Housing)
$41,178/yr
Minimum gross income
36% Rule (All Debt)
$32,027/yr
If no other debt
3Ã Income Rule
$50,000/yr
Conservative target
Buying a $150K Home in Utah
A $150,000 home in Utah is at or below the national median home price. With a 20% down payment of $30,000, your estimated monthly payment of $961 is achievable on a salary of $41,178 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.