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Homes Under $500,000 in Central Valley, Utah
Central Valley is a small Sevier County town of roughly 600 residents along Highway 118, just south of Richfield and Elsinore, in central Utah. Homes under $500K here are the norm rather than the exception. That budget typically covers a single-family house on a large lot, often a half acre or more, with room for a shop, garden, or a few animals. Sevier County prices run far below the Wasatch Front, where $500K barely buys a townhome in many cities.
The setting is rural and quiet. Winters are cold with real snow, summers are hot and dry, and the Fishlake National Forest and Fremont Indian State Park are within a short drive. Richfield, about 10 minutes north, supplies groceries, Sevier Valley Hospital, and most employers. Students attend Sevier School District schools. Salt Lake City is roughly two and a half hours away via I-70 and I-15, so this fits remote workers, retirees, and buyers who want land more than commuting access. Inventory is thin, and listings can include older homes, manufactured homes on owned land, and the occasional newer build. Well and septic or shared water systems can come into play, so inspections matter. Browse the active listings below to see what's currently on the market under $500K.
October 2026 · Central Valley market
Live from the Utah MLS — what's actually happening in Central Valley right now.
Median sale
—
1 closed in October 2026
Median DOM
150 days
listing → contract
Sale-to-list
—
of final list price
Unsold inventory
9
active + pending
5 matching · page 1 of 1
Active listings
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Common questions
About homes under $500k in Central Valley.
What does $500K actually buy in Central Valley? ▾
At this price point you can typically get a 3-4 bedroom home on anywhere from a quarter-acre to several acres, often with a detached shop or barn. Newer construction is limited, so most inventory is 1970s–2000s builds, with some newer modular and manufactured homes mixed in. Properties with usable acreage and water rights tend to push toward the upper end of the range.
Are there many active listings under $500K in Central Valley at any given time? ▾
Inventory is thin. Central Valley is a small town, and it's common to see only a handful of active listings — sometimes just one or two — at any moment. Most serious buyers also watch nearby Koosharem, Burrville, Annabella, and Richfield to widen the search.
Do homes in this price range usually include water rights? ▾
Often yes, but never assume. Irrigation shares through the local canal company are valuable and are typically itemized in the listing or title work. If you plan to keep livestock, irrigate pasture, or maintain a large garden, confirm exactly how many shares convey before you write an offer.
What are property taxes like in Sevier County? ▾
Sevier County has some of the lower effective property tax rates in Utah, generally running well under 1% of assessed value for a primary residence (the residential exemption knocks taxable value down to 55%). On a $400K home, annual taxes typically land in the $1,400–$1,800 range.
Can I get a conventional or USDA loan on rural properties here? ▾
Yes. Central Valley falls within USDA Rural Development eligible areas, which means qualified buyers can use zero-down USDA financing on most single-family homes. Conventional and FHA loans also work, though manufactured homes and properties with significant acreage sometimes need a portfolio or ag lender.
What's the nearest town with full services? ▾
Richfield, about 15 minutes north on SR-24/US-89, is the regional hub — Sevier Valley Hospital, Walmart, Snow College's Richfield campus, and the main grocery and hardware stores are all there. Salina, Monroe, and Loa are also within easy driving distance for smaller errands.