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Homes Under $500,000 in Downey, Utah
Downey sits in the Malad Valley of Franklin County... wait, that is Idaho. The Downey that matters here is a tiny town in Bannock County, Idaho, so Utah buyers should know there is no incorporated Downey in Utah with an active MLS market of its own. If you're searching homes under $500K for this area, the listings below are pulled from the closest matching markets, and it's worth confirming the exact location of any property before you tour it.
For context, a $500K budget goes a long way in rural northern Utah and southern Idaho border country. Cache Valley towns such as Smithfield, Richmond, and Lewiston, plus Tremonton and Garland in Box Elder County, offer single-family homes on larger lots at or below that price, often with mountain views and room for a shop or animals. Winters are cold and snowy, with valley inversions less severe than along the Wasatch Front, and summers are dry and warm. Logan is the main employment hub, with Utah State University, Schreiber Foods and a growing medical sector, and Salt Lake City airport is roughly 90 minutes to two hours away depending on the town. Browse the active listings below to see what's currently on the market and check each address and county.
September 2026 · Downey market
Live from the Utah MLS — what's actually happening in Downey right now.
Median sale
$590,000
1 closed in September 2026
Median DOM
—
listing → contract
Sale-to-list
90.8%
of final list price
Unsold inventory
6
active + pending
10 matching · page 1 of 1
Active listings
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Common questions
About homes under $500k in Downey.
Is Downey actually in Utah? ▾
No — and this is the most common mix-up. Downey is a small town in Bannock County, southeast Idaho, about 30 miles south of Pocatello and roughly 20 minutes north of the Utah state line on I-15. Many Utah buyers shop here because it's a reasonable commute to Logan and Cache Valley, and the price-per-acre is dramatically lower than anything comparable in northern Utah.
What can I realistically get under $500K in Downey? ▾
At this price point you're typically looking at 3-4 bedroom single-family homes on larger lots, older farmhouses with outbuildings, or newer manufactured homes on acreage. Properties with 1-5 acres, shop space, or irrigation rights show up in this range fairly often — things that would run $800K+ just across the border in Cache Valley.
How's the commute from Downey to Logan or Salt Lake? ▾
Logan is about 50 minutes south via US-91 through the Cache Valley. Salt Lake City is roughly 2 hours down I-15. Pocatello, the closest larger employment hub, sits 30 minutes north. Most Downey buyers either work remotely, commute to Pocatello, or are buying a recreational/secondary property.
What should I know about the climate and elevation? ▾
Downey sits around 4,800 feet with cold, snowy winters and warm, dry summers — similar to Logan but slightly colder. Expect real winter: snow tires, plowed driveways, and heating bills factor into ownership costs. The trade-off is access to Downata Hot Springs, Scout Mountain, and quick drives to Bear Lake and the Caribou-Targhee National Forest.
Are there financing differences buying in Idaho vs Utah? ▾
Yes. Property taxes in Bannock County are calculated differently than Utah counties, and Idaho has a homeowner's exemption worth knowing about. USDA Rural Development loans work well in Downey since the entire area qualifies as rural — that's a zero-down option many Utah buyers don't realize is available here.
How many homes are usually active under $500K? ▾
Inventory in Downey is thin — the town has under 700 residents — so active listings under $500K typically range from a handful to maybe a dozen at any given time. The list below updates directly from the MLS, so it reflects what's currently available.