How Much House Can I Afford on a 250k Income in Utah?

With a 250k income, you're well-positioned to purchase a home in Utah. Financial advisors recommend spending about 3 to 4 times your annual income on a home, suggesting a budget between $750,000 and $1,000,000, depending on factors like your down payment and existing debts.

In Salt Lake City, the median home price is approximately $550,000, which is below your minimum affordability range. This situation opens up a broad selection of homes, potentially allowing you to consider higher-end properties or homes in better neighborhoods.

Other areas such as Provo and Ogden offer competitive pricing at around $480,000. Utah's property tax rate averages 0.72%, adding roughly $3,960 annually on an average home. Coupled with a cost of living near the national average, your income provides ample opportunities for homeownership.