Summit County, UT real estate

What the numbers say

Summit County, UT real estate at a glance

By AstroCore · Realtor.com, US Census and Freddie Mac data

Homeowners in Summit County pay a median of $3,701 a year in property taxes on a median home value of $1,067,700, an effective rate of about 0.35%. The Utah average is 0.52%, which makes Summit County the #3 lowest-tax of 29 counties in the state with published tax data.

Renters pay a median of $1,987 a month, and $1,788 for a two-bedroom. At today's prices a typical home costs about 45 times a year's rent, which generally favors renting over buying in the short term.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $1,068,000 home here comes to about $6,574 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $282,000 a year (the median household here earns $138,114).