Total monthly cost of ownership
Cost to Own a Home in Spanish Fork, Utah
A $444,000 home here costs
$3,242per 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 $139,000 a year.
A standard mortgage calculator would have told you $2,459. The real number is $783 higher every month, 32% more than the payment most buyers budget for.
Compare Utah 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.
Spanish Fork against Utah County and Utah
| Measure | Spanish Fork | Utah County |
|---|---|---|
| Median home value | $444,200 | $489,200 |
| Median property tax | $2,124 | $2,234 |
| Effective tax rate | 0.478% | 0.457% |
| Median gross rent | $1,417 | $1,441 |
| Population | 43,632 | 683,622 |
The weather behind that power bill
Spanish Fork sits in Utah County, which averages a high of 93.1°F in its hottest month and a low of 22.0°F in its coldest, with 20.19" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,013 cooling and 5,415 heating degree days, which is what sets the $102 electricity line above.
See the full climate breakdown for Utah County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Utah County
Talk to someone who works this market
These are Spanish Fork 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 Spanish Fork every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Spanish Fork I already own here and may sell
Common questions
How much does it cost to own a home in Spanish Fork?
A $444,000 home in Spanish Fork, Utah costs approximately $3,242 per month with 20% down at 7.4%. That is $2,459 principal and interest, $177 property tax, $67 homeowners insurance, $170 utilities and $370 set aside for maintenance.
What is the property tax rate in Spanish Fork?
Spanish Fork has an effective property tax rate of 0.478%, based on a median home value of $444,200 and median real estate taxes of $2,124. That is higher than the Utah County average of 0.457%.
What is the average home price in Spanish Fork?
The median owner-occupied home value in Spanish Fork, Utah is $444,200, against $489,200 across Utah County.
Is it cheaper to rent or buy in Spanish Fork?
Median gross rent in Spanish Fork is $1,417 a month, against $3,242 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 Spanish Fork?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Spanish Fork, Utah at today's rate takes a household income of roughly $139,000 a year. That covers the full $3,242 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Spanish Fork, 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.