Current Avg. Rates: 6.46% 30-yr fixed|5.77% 15-yr fixed
Source: Freddie Mac Primary Mortgage Market Survey
Source: Freddie Mac Primary Mortgage Market Survey
Denver vs Salt Lake City: Mortgage Cost Comparison
Thinking about buying in Denver or Salt Lake City? Here's a side-by-side comparison of mortgage costs in both cities.
$3,316
Denver PITI
$2,998
Salt Lake City PITI
$318/mo
Difference
Your Monthly Payment (PITI)
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Principal + Interest + Tax + Insurance
Monthly Breakdown
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Property Tax
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Insurance
Loan Overview
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Total Interest
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Payoff Date
Bi-Weekly Option
? Pay half your monthly payment every two weeks — you'll make 26 half-payments (13 full payments) per year instead of 12
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Bi-Weekly Payment
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Total Interest
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Payoff Date
Denver vs Salt Lake City: Full Mortgage Comparison
Buying a home in Salt Lake City is $318/month cheaper based on average home prices and local costs.
| Denver, CO | Salt Lake City, UT | |
|---|---|---|
| Avg. Home Price | $560,000 | $520,000 |
| Down Payment (20%) | $112,000 | $104,000 |
| Loan Amount | $448,000 | $416,000 |
| Property Tax Rate | 0.52% | 0.6% |
| Annual Property Tax | $2,912 | $3,120 |
| Annual Insurance | $2,900 | $1,300 |
| Monthly P&I | $2,832 | $2,629 |
| Monthly PITI | $3,316 | $2,998 |
| Total Interest (30yr) | $571,399 | $530,585 |
What Drives the Difference?
Home prices are the biggest factor — Denver’s average home costs $40,000 more than Salt Lake City’s.
Property taxes also favor Denver — Salt Lake City’s 0.6% rate is higher than Denver’s 0.52%.
Insurance is $1,600/year more in Denver.
Income Needed to Buy
Using the 28% rule (PITI under 28% of gross income):
| Denver | Salt Lake City | |
|---|---|---|
| Monthly PITI | $3,316 | $2,998 |
| Income needed | $142,114 | $128,474 |
Try Your Own Numbers
The calculator above is pre-filled with Denver’s averages. Adjust the values to match your situation, or try the Salt Lake City calculator for Salt Lake City-specific numbers.