The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.
But all things are not equal when it comes to real estate in the United States.
Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in Utah. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.
The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency's House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.
Keep reading to discover which county in Utah has the lowest home prices.
MJBUMM // Wikimedia Commons
1 / 29#29. Summit County
- Monthly mortgage payment in 2020: $2,585 (3.3% less than 2019)
- Monthly mortgage payment in 2019: $2,674
- Median home value in 2020: $698,200
- Ranked #3,104 out of 3,120 counties nationwide
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2 / 29#28. Wasatch County
- Monthly mortgage payment in 2020: $1,661 (4.7% less than 2019)
- Monthly mortgage payment in 2019: $1,743
- Median home value in 2020: $448,500
- Ranked #3,042 out of 3,120 counties nationwide
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3 / 29#27. Morgan County
- Monthly mortgage payment in 2020: $1,520 (5.6% less than 2019)
- Monthly mortgage payment in 2019: $1,610
- Median home value in 2020: $410,600
- Ranked #3,023 out of 3,120 counties nationwide
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4 / 29#26. Salt Lake County
- Monthly mortgage payment in 2020: $1,464 (2.6% less than 2019)
- Monthly mortgage payment in 2019: $1,503
- Median home value in 2020: $395,300
- Ranked #3,010 out of 3,120 counties nationwide
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5 / 29#25. Utah County
- Monthly mortgage payment in 2020: $1,452 (2.2% less than 2019)
- Monthly mortgage payment in 2019: $1,485
- Median home value in 2020: $392,200
- Ranked #3,006 out of 3,120 counties nationwide
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6 / 29#24. Davis County
- Monthly mortgage payment in 2020: $1,385 (2.6% less than 2019)
- Monthly mortgage payment in 2019: $1,422
- Median home value in 2020: $374,000
- Ranked #2,984 out of 3,120 counties nationwide
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7 / 29#23. Washington County
- Monthly mortgage payment in 2020: $1,298 (7.2% less than 2019)
- Monthly mortgage payment in 2019: $1,399
- Median home value in 2020: $350,500
- Ranked #2,951 out of 3,120 counties nationwide
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8 / 29#22. Cache County
- Monthly mortgage payment in 2020: $1,133 (2.2% less than 2019)
- Monthly mortgage payment in 2019: $1,158
- Median home value in 2020: $306,000
- Ranked #2,869 out of 3,120 counties nationwide
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9 / 29#21. Weber County
- Monthly mortgage payment in 2020: $1,101 (0.1% greater than 2019)
- Monthly mortgage payment in 2019: $1,100
- Median home value in 2020: $297,300
- Ranked #2,845 out of 3,120 counties nationwide
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10 / 29#20. Tooele County
- Monthly mortgage payment in 2020: $1,083 (1.7% greater than 2019)
- Monthly mortgage payment in 2019: $1,065
- Median home value in 2020: $292,400
- Ranked #2,835 out of 3,120 counties nationwide
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11 / 29#19. Grand County
- Monthly mortgage payment in 2020: $980 (8.1% less than 2019)
- Monthly mortgage payment in 2019: $1,066
- Median home value in 2020: $264,700
- Ranked #2,747 out of 3,120 counties nationwide
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12 / 29#18. Juab County
- Monthly mortgage payment in 2020: $894 (1.3% less than 2019)
- Monthly mortgage payment in 2019: $906
- Median home value in 2020: $241,400
- Ranked #2,643 out of 3,120 counties nationwide
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13 / 29#17. Iron County
- Monthly mortgage payment in 2020: $845 (6.3% less than 2019)
- Monthly mortgage payment in 2019: $902
- Median home value in 2020: $228,100
- Ranked #2,571 out of 3,120 counties nationwide
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14 / 29#16. Wayne County
- Monthly mortgage payment in 2020: $814 (2.9% greater than 2019)
- Monthly mortgage payment in 2019: $791
- Median home value in 2020: $219,700
- Ranked #2,527 out of 3,120 counties nationwide
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15 / 29#15. Kane County
- Monthly mortgage payment in 2020: $810 (4.8% less than 2019)
- Monthly mortgage payment in 2019: $851
- Median home value in 2020: $218,900
- Ranked #2,524 out of 3,120 counties nationwide
Tricia Simpson // Wikimedia Commons
16 / 29#14. Box Elder County
- Monthly mortgage payment in 2020: $805 (5.4% less than 2019)
- Monthly mortgage payment in 2019: $851
- Median home value in 2020: $217,500
- Ranked #2,514 out of 3,120 counties nationwide
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17 / 29#13. Rich County
- Monthly mortgage payment in 2020: $801 (7.0% less than 2019)
- Monthly mortgage payment in 2019: $861
- Median home value in 2020: $216,300
- Ranked #2,509 out of 3,120 counties nationwide
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18 / 29#12. Uintah County
- Monthly mortgage payment in 2020: $779 (9.4% less than 2019)
- Monthly mortgage payment in 2019: $860
- Median home value in 2020: $210,400
- Ranked #2,466 out of 3,120 counties nationwide
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19 / 29#11. Sanpete County
- Monthly mortgage payment in 2020: $747 (4.2% less than 2019)
- Monthly mortgage payment in 2019: $780
- Median home value in 2020: $201,900
- Ranked #2,399 out of 3,120 counties nationwide
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20 / 29#10. Garfield County
- Monthly mortgage payment in 2020: $747 (7.3% less than 2019)
- Monthly mortgage payment in 2019: $806
- Median home value in 2020: $201,800
- Ranked #2,397 out of 3,120 counties nationwide
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21 / 29#9. Duchesne County
- Monthly mortgage payment in 2020: $735 (10.6% less than 2019)
- Monthly mortgage payment in 2019: $822
- Median home value in 2020: $198,500
- Ranked #2,370 out of 3,120 counties nationwide
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22 / 29#8. Piute County
- Monthly mortgage payment in 2020: $710 (2.2% greater than 2019)
- Monthly mortgage payment in 2019: $695
- Median home value in 2020: $191,700
- Ranked #2,323 out of 3,120 counties nationwide
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23 / 29#7. Beaver County
- Monthly mortgage payment in 2020: $702 (3.2% less than 2019)
- Monthly mortgage payment in 2019: $725
- Median home value in 2020: $189,700
- Ranked #2,307 out of 3,120 counties nationwide
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24 / 29#6. Daggett County
- Monthly mortgage payment in 2020: $676 (28.6% less than 2019)
- Monthly mortgage payment in 2019: $947
- Median home value in 2020: $182,400
- Ranked #2,236 out of 3,120 counties nationwide
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25 / 29#5. Sevier County
- Monthly mortgage payment in 2020: $652 (7.1% less than 2019)
- Monthly mortgage payment in 2019: $702
- Median home value in 2020: $176,000
- Ranked #2,149 out of 3,120 counties nationwide
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26 / 29#4. Millard County
- Monthly mortgage payment in 2020: $613 (6.0% less than 2019)
- Monthly mortgage payment in 2019: $652
- Median home value in 2020: $165,600
- Ranked #1,999 out of 3,120 counties nationwide
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27 / 29#3. Carbon County
- Monthly mortgage payment in 2020: $557 (8.7% less than 2019)
- Monthly mortgage payment in 2019: $610
- Median home value in 2020: $150,400
- Ranked #1,781 out of 3,120 counties nationwide
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28 / 29#2. Emery County
- Monthly mortgage payment in 2020: $554 (11.4% less than 2019)
- Monthly mortgage payment in 2019: $625
- Median home value in 2020: $149,700
- Ranked #1,773 out of 3,120 counties nationwide
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29 / 29#1. San Juan County
- Monthly mortgage payment in 2020: $513 (14.1% less than 2019)
- Monthly mortgage payment in 2019: $597
- Median home value in 2020: $138,500
- Ranked #1,581 out of 3,120 counties nationwide
