Salt Lake City vs Boise: Mortgage Cost Comparison
Thinking about buying in Salt Lake City or Boise? Here's a side-by-side comparison of mortgage costs in both cities.
$2,998
Salt Lake City PITI
$2,615
Boise PITI
$382/mo
Difference
-
? Monthly payment PITI with taxes & insurance included
-
? Bi-weekly payment PITI if paid every other week
-
-
-
-
-
-
Salt Lake City vs Boise: Full Mortgage Comparison
Buying a home in Boise is $382/month cheaper based on average home prices and local costs.
| Salt Lake City, UT | Boise, ID | |
|---|---|---|
| Avg. Home Price | $520,000 | $445,000 |
| Down Payment (20%) | $104,000 | $89,000 |
| Loan Amount | $416,000 | $356,000 |
| Property Tax Rate | 0.6% | 0.67% |
| Annual Property Tax | $3,120 | $2,982 |
| Annual Insurance | $1,300 | $1,400 |
| Monthly P&I | $2,629 | $2,250 |
| Monthly PITI | $2,998 | $2,615 |
| Total Interest (30yr) | $530,585 | $454,058 |
What Drives the Difference?
Home prices are the biggest factor — Salt Lake City’s average home costs $75,000 more than Boise’s.
Property taxes also favor Salt Lake City — Boise’s 0.67% rate is higher than Salt Lake City’s 0.6%.
Insurance is $100/year more in Boise.
Income Needed to Buy
Using the 28% rule (PITI under 28% of gross income):
| Salt Lake City | Boise | |
|---|---|---|
| Monthly PITI | $2,998 | $2,615 |
| Income needed | $128,474 | $112,086 |
Try Your Own Numbers
The calculator above is pre-filled with Salt Lake City’s averages. Adjust the values to match your situation, or try the Boise calculator for Boise-specific numbers.