Total monthly cost of ownership
Cost to Own a Home in Park City, Utah
A $1,740,000 home here costs
$11,253per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $8,945. The real number is $2,307 higher every month — 26% 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.
Park City against Summit County and Utah
| Measure | Park City | Summit County |
|---|---|---|
| Median home value | $1,739,700 | $1,000,400 |
| Median property tax | $4,935 | $3,469 |
| Effective tax rate | 0.284% | 0.347% |
| Median gross rent | $1,900 | $1,969 |
| Population | 8,365 | 42,709 |
Park City extends across 2 counties. Figures here use Summit County, where most of its housing sits.
The weather behind that power bill
Park City sits in Summit County, which averages a high of 94.0°F in its hottest month and a low of 24.2°F in its coldest, with 15.52" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 1,420 cooling and 5,154 heating degree days, which is what sets the $117 electricity line above.
See the full climate breakdown for Summit County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Summit County
Common questions
How much does it cost to own a home in Park City?
A $1,740,000 home in Park City, Utah costs approximately $11,253 per month with 20% down at 6.66%. That is $8,945 principal and interest, $412 property tax, $261 homeowners insurance, $185 utilities and $1,450 set aside for maintenance.
What is the property tax rate in Park City?
Park City has an effective property tax rate of 0.284%, based on a median home value of $1,739,700 and median real estate taxes of $4,935. That is lower than the Summit County average of 0.347%.
What is the average home price in Park City?
The median owner-occupied home value in Park City, Utah is $1,739,700, against $1,000,400 across Summit County.
Is it cheaper to rent or buy in Park City?
Median gross rent in Park City is $1,900 a month, against $11,253 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 Park City — 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.