Total monthly cost of ownership
Cost to Own a Home in Parowan, Utah
A $300,000 home here costs
$2,125per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,542. The real number is $583 higher every month — 38% 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.
Parowan against Iron County and Utah
| Measure | Parowan | Iron County |
|---|---|---|
| Median home value | $299,800 | $342,900 |
| Median property tax | $1,235 | $1,444 |
| Effective tax rate | 0.412% | 0.421% |
| Median gross rent | $997 | $1,008 |
| Population | 3,095 | 60,201 |
The weather behind that power bill
Parowan sits in Iron County, which averages a high of 91.0°F in its hottest month and a low of 16.3°F in its coldest, with 11.04" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 678 cooling and 6,002 heating degree days, which is what sets the $117 electricity line above.
See the full climate breakdown for Iron County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Iron County
Common questions
How much does it cost to own a home in Parowan?
A $300,000 home in Parowan, Utah costs approximately $2,125 per month with 20% down at 6.66%. That is $1,542 principal and interest, $103 property tax, $45 homeowners insurance, $185 utilities and $250 set aside for maintenance.
What is the property tax rate in Parowan?
Parowan has an effective property tax rate of 0.412%, based on a median home value of $299,800 and median real estate taxes of $1,235. That is in line with the Iron County average of 0.421%.
What is the average home price in Parowan?
The median owner-occupied home value in Parowan, Utah is $299,800, against $342,900 across Iron County.
Is it cheaper to rent or buy in Parowan?
Median gross rent in Parowan is $997 a month, against $2,125 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 Parowan — 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.