Utah's median home sale price reached $520,000 in the first quarter of 2026, according to a report from the University of Utah’s Kem C. Gardner Policy Institute. This increase from $500,000 a year prior has surpassed the previous peak of $502,000 recorded in 2022.
Single-family homes sold for a median of $559,900, which ranks Utah as the tenth most expensive state for detached housing. To afford a median-priced home with a 10% down payment, buyers require an annual income of $146,800, which is significantly higher than the state’s median household income of $96,658.
Renters face substantial barriers to ownership, as only 4.9% of homes sold in 2025 were within the price range of those with a median income of $64,000. Monthly mortgage payments are currently between $4,000 and $4,500, excluding maintenance, while average asking rents are between $2,500 and $2,700. This gap has kept 91% of Utah renters priced out of ownership as of early 2026.
The affordability inversion began in 2017 when monthly homeownership costs became higher than rental payments. Between March 2024 and March 2026, single-family rental prices rose 8.5% and townhome rents increased 8.3%, while apartment asking prices fell by 2.3%.
Utah’s single-family median price has more than doubled since 2016, when it was $249,900, a trend that has compressed the pipeline of renters able to transition to homeownership.
The Utah Housing Corporation provides up to $20,000 in assistance for down payments and closing costs for first-time buyers who have lived in the state for at least one year and are purchasing homes under $450,000. Regarding apartment supply, there were 108 affordable units available per 100 households earning 80% or less of the area median income in 2025, up from 100 units in 2023.
