Total monthly cost of ownership
Cost to Own a Home in Morgan, Utah
A $463,000 home here costs
$3,245per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,380. The real number is $865 higher every month — 36% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Morgan against Morgan County and Utah
| Measure | Morgan | Morgan County |
|---|---|---|
| Median home value | $463,100 | $600,900 |
| Median property tax | $2,699 | $3,264 |
| Effective tax rate | 0.583% | 0.543% |
| Median gross rent | $1,258 | $1,493 |
| Population | 4,268 | 12,585 |
The weather behind that power bill
Morgan sits in Morgan County, which averages a high of 91.8°F in its hottest month and a low of 14.1°F in its coldest, with 17.07" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 487 cooling and 6,847 heating degree days, which is what sets the $117 electricity line above.
See the full climate breakdown for Morgan County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Morgan County
Common questions
How much does it cost to own a home in Morgan?
A $463,000 home in Morgan, Utah costs approximately $3,245 per month with 20% down at 6.66%. That is $2,380 principal and interest, $225 property tax, $69 homeowners insurance, $185 utilities and $386 set aside for maintenance.
What is the property tax rate in Morgan?
Morgan has an effective property tax rate of 0.583%, based on a median home value of $463,100 and median real estate taxes of $2,699. That is higher than the Morgan County average of 0.543%.
What is the average home price in Morgan?
The median owner-occupied home value in Morgan, Utah is $463,100, against $600,900 across Morgan County.
Is it cheaper to rent or buy in Morgan?
Median gross rent in Morgan is $1,258 a month, against $3,245 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Morgan — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Utah.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.