How Much Does It Cost to Buy a House in Utah?

Kristy Snyder's Photo
By Kristy Snyder Updated December 3, 2022


Costs to buy a house in Utah | Utah closing costs | Utah house buying calculator | Homeownership costs | How to save when buying a home in Utah

The average home buyer in Utah spends between $43,338 and $153,657 when purchasing a $562,693 home — the state median value.

Keep in mind, this is just the cost of buying a home. After you close, you'll still need to budget for all the ongoing costs of homeownership.

Luckily, Clever Real Estate can help make buying a home more affordable. Working with a Clever agent means you'll not only get great service from start to finish, but you could also be eligible for up to 0.5% cash back after closing. That's about $2,813 back on an average-priced home in Utah!

💰Buying a home is expensive💰

Put money back in your pocket with Clever Cash Back. Clever will connect you with a top, local agent and send you a check after closing.

✅ Work with a full-service realtor from a top broker

✅ Eligible buyers can get cash back

✅ Clever is 100% free, with zero obligation

Average cost to buy a house in Utah

Expense Amount
Earnest money deposit (1-3%) $5,627 to $16,881
Down payment (3.5-20%) $19,694 to $112,539
Cash reserves $5,163 to $7,744
Closing costs (1.99%) $11,195
Inspection $203
Appraisal $205
Moving $1,250 to $4,890
Total $43,338 to $153,657
Show more

Buyer closing costs in Utah

While the other costs to buy a house in Utah are pretty transparent, Utah closing costs are a bit more nuanced. They're actually a series of smaller costs lumped together into one total. Here's a breakdown of all of the Utah closing costs you'll likely pay when buying a home.

Closing cost Amount
Closing fee $563
Recording fee $40
Title service fees $630
Origination fee $2,813
Underwriting fee $600
Discount points $4,502 per point
Lender's title insurance $917
Owner's title insurance $1,131
Prorated property tax Varies
Transfer tax No transfer tax in Utah
Total $11,195
Show more

Keep in mind, closing costs are often negotiable. However, to win the negotiation battle, you'll need a great agent who can work out a deal with the seller. Clever can match you with a top agent in your area that can get the seller to shoulder more of the above costs.

Contact us at Clever for top agent recommendations.

Cost to buy a house in Utah calculator

Ongoing costs of homeownership in Utah

Unfortunately, the cost to buy a house is just the beginning. After closing, you'll officially own the home and begin paying for the ongoing costs of homeownership.

Besides the expenses outlined above, you'll also want to consider private mortgage insurance (PMI) and homeowner's association (HOA) fees.

  • If you pay less than 20% as a down payment on your house, you'll probably have to pay PMI monthly until you get to 20% equity. For the average Utah homeowner, this is between $245 to $829 a month.
  • Some neighborhoods have HOA fees for the care and maintenance of common areas. The national average is around $250 per month.

» MORE: The true cost of homeownership

Top ways to save money when buying a house in Utah

1. Look into better financing options

Paying off debts and getting your credit in the best shape possible before applying for a loan will help you get a better interest rate, which will lower your monthly payments for the life of the loan.

You can also shop around to compare lenders so you get the lowest fees and interest rates available. It may be a good idea to enlist the help of a mortgage broker if you're not sure how to go about vetting lenders.

2. Participate in home buyer programs Utah

Utah home buyer programs can make owning a home a bit more affordable in the state. The Utah Housing Corporation offers down payment assistance programs, favorable lending options, and grants for vets and those in law enforcement.

There’s also the Community Development Corporation of Utah, which offers down payment assistance to low-to-moderate income households buying in Salt Lake City, Salt Lake County, and Taylorsville residents. You may also find a local program in your county — the HUD lists a few of the most prominent ones.

» MORE: First-time home buyer programs everyone should know about

3. Partner with an expert agent

Some real estate companies, like Clever, offer home buyers a percentage of their home's price back after the sale finalizes.

That means if you work with a Clever agent, you'll not only get the expertise that helps you get the best deal possible — you could also get up to 0.5% of your home price back after closing!

Find your agent through Clever, qualify for cash back!

Clever matches you with top local agents so you can compare options and choose the best fit. And eligible buyers can get cash back after closing.

Fill out the form below and get started now. Clever's service is 100% free with no obligation.

Related links

Better real estate agents at a better rate

Enter your zip code to see if Clever has a partner agent in your area
If you don't love your Clever partner agent, you can request to meet with another, or shake hands and go a different direction. We offer this because we're confident you're going to love working with a Clever Partner Agent.