Total monthly cost of ownership
Cost to Own a Home in Smithfield, Utah
A $406,000 home here costs
$2,977per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $127,500 a year.
A standard mortgage calculator would have told you $2,249. The real number is $728 higher every month, 32% more than the payment most buyers budget for.
Compare Cache County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Smithfield against Cache County and Utah
| Measure | Smithfield | Cache County |
|---|---|---|
| Median home value | $406,300 | $392,800 |
| Median property tax | $1,916 | $1,929 |
| Effective tax rate | 0.472% | 0.491% |
| Median gross rent | $1,206 | $1,137 |
| Population | 14,033 | 137,031 |
The weather behind that power bill
Smithfield sits in Cache County, which averages a high of 88.2°F in its hottest month and a low of 17.6°F in its coldest, with 18.97" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 719 cooling and 6,693 heating degree days, which is what sets the $102 electricity line above.
See the full climate breakdown for Cache County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cache County
Talk to someone who works this market
These are Smithfield averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Smithfield every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Smithfield I already own here and may sell
Common questions
How much does it cost to own a home in Smithfield?
A $406,000 home in Smithfield, Utah costs approximately $2,977 per month with 20% down at 7.4%. That is $2,249 principal and interest, $160 property tax, $61 homeowners insurance, $170 utilities and $338 set aside for maintenance.
What is the property tax rate in Smithfield?
Smithfield has an effective property tax rate of 0.472%, based on a median home value of $406,300 and median real estate taxes of $1,916. That is lower than the Cache County average of 0.491%.
What is the average home price in Smithfield?
The median owner-occupied home value in Smithfield, Utah is $406,300, against $392,800 across Cache County.
Is it cheaper to rent or buy in Smithfield?
Median gross rent in Smithfield is $1,206 a month, against $2,977 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Smithfield?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Smithfield, Utah at today's rate takes a household income of roughly $127,500 a year. That covers the full $2,977 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Smithfield, 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.