Utah · main city

Buying a home in Salt Lake City, Utah

In Salt Lake City, the median value of owner-occupied homes is $608,000, Salt Lake County's effective property tax rate is 0.54%, and a purchase mortgage carried a median $8,290 in total loan costs in 2025.

Data as of : Census ACS 2025 1-year, Census Vintage 2024, FHFA HPI 2026Q2, Census ACS 2020-2024, HMDA 2025, HUD FY 2027. Sources

Checked on against the official sources listed at the bottom of the page.

Salt Lake City home costs, fact by fact

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If you buy

Utah state transfer tax

Utah has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$608,000
State transfer tax$0
Share of the price—

Default price: the Salt Lake City median value of owner-occupied homes, $608,000 (Census ACS 2025). Rule: No tax is calculated on the price. The recording fee is flat per instrument. Who pays: No transfer tax. The recording fee is owed by whoever submits the document; the state purchase contract does not assign recording fees, so closing instructions and the loan decide. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Utah transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Utah state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

In short

The median value of owner-occupied homes in the city of Salt Lake City is $620,100, according to the Census Bureau’s 2024 American Community Survey, against $545,200 for Utah. Between the second quarters of 2025 and 2026, the FHFA index for the Salt Lake City–Murray area rose 0.2%. Salt Lake City is in Salt Lake County.

How much homes cost in Salt Lake City

The Census Bureau’s American Community Survey (ACS) asks owners how much they think their home would sell for. The median of those answers is a useful benchmark, but it is not a sale price: it covers every owner-occupied home, including homes bought long ago. Our page on Utah home prices explains the method in detail.

AreaMedian value, 2024 (ACS)Margin of error (90%)
City of Salt Lake City$620,100±$24,177
Salt Lake County$583,600±$8,645
Salt Lake City–Murray metro area$575,200±$8,465
Utah$545,200±$6,188
United States$360,600±$618

Source: U.S. Census Bureau, ACS 1-Year Estimates 2024, table B25077. The 2025 estimates are scheduled for October 29, 2026.

Are Salt Lake City prices rising?

The Federal Housing Finance Agency (FHFA) tracks repeat sales of the same single-family homes. Its purchase-only, seasonally adjusted index for the Salt Lake City–Murray metro area, published August 25, 2026, shows:

Area1-year change (Q2 2025 to Q2 2026)5-year change (Q2 2021 to Q2 2026)
Salt Lake City–Murray metro area+0.2%+22.7%
Utah+1.1%+24.0%
United States+2.1%+33.4%

Source: FHFA House Price Index, quarterly purchase-only files. Changes calculated by Payotte from the published index values.

Prices in the Salt Lake City area were almost flat over the past year, after a gain of more than a fifth over five years.

Costs on top of the price

Buyers and sellers pay closing costs: lender fees, the appraisal, escrow and recording fees, and title insurance. Several depend on the loan and on the providers you choose. For the rules, who usually pays each item and a worked example, see our guide to closing costs in Utah and the page on transfer tax in Utah.

The yearly cost of owning depends on the property tax rates that apply at your address. We do not recalculate them here: our Utah property tax guide explains how the tax is set and how to appeal.

Help for Salt Lake County homeowners

The Salt Lake County Treasurer’s Office lists property tax relief programs for qualified homeowners: Circuit Breaker abatement for eligible elderly homeowners on their primary residence, Indigent Relief, Hardship Relief, Veteran Relief for disabled veterans, and Blind Relief. Eligibility rules are set by the Treasurer’s Office; check them before you rely on a program.

For help with the purchase itself, HUD’s Utah page lists Utah Housing Corporation, (801) 902-8200, and HUD Approved Housing Counselors, (800) 569-4287. See first-time buyer programs in Utah for what we could and could not confirm.

Utah guides for Salt Lake City buyers

Frequently asked questions

What is the median home price in Salt Lake City?

The Census Bureau’s 2024 American Community Survey puts the median value of owner-occupied homes in the city of Salt Lake City at $620,100 (±$24,177). This is what owners think their home is worth, not the median sale price of recent sales.

Are home prices in Salt Lake City going down?

According to the FHFA purchase-only index, prices in the Salt Lake City–Murray area rose 0.2% between the second quarter of 2025 and the second quarter of 2026, which is almost flat. Over five years, they rose 22.7%.

Is Salt Lake City more expensive than the rest of Utah?

By the ACS median, yes: $620,100 in the city against $545,200 statewide and $583,600 in Salt Lake County. The city figure has a wide margin of error (±$24,177).

Which county is Salt Lake City in?

Salt Lake County. Its Treasurer’s Office runs the property tax relief programs listed above.

Where can a first-time buyer in Salt Lake City get help?

HUD’s Utah page lists Utah Housing Corporation, the Federal Home Loan Bank’s homebuyer programs and HUD Approved Housing Counselors. Our first-time buyer page explains what we could verify.

More Utah guides

Sources

Questions about buying a home in Salt Lake City

How much is property tax in Salt Lake City?

Homeowners in Salt Lake County pay a median $2,836 a year in property tax, 0.54% of the county median home value of $525,700 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Salt Lake City?

Home-purchase mortgages in Salt Lake County carried median total loan costs of $8,290 in 2025; half of the 9,746 loans fell between $4,786 and $13,505 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Salt Lake City?

Utah has no state transfer tax in the official sources read. Recording a deed costs a flat $40 per document under Utah Code 17-71-407, and Utah is a non-disclosure state where deeds do not state the sale price.

Is it cheaper to rent or buy in Salt Lake City?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Salt Lake City ($539,500) equals 31.8 years of the median gross rent ($1,414 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Professionals by sector of Salt Lake City

Who licenses each trade in Utah

Other large cities: see cities in Utah.

Data sources for the figures above

Utah · All states · Federal guides