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Homes Under $500,000 in Downey, Utah
Downey sits just over the Idaho line in Bannock County — technically not Utah, but close enough that many northern Utah buyers searching the Cache Valley and Logan-area MLS look here for more land and a lower price per square foot. Under $500K in Downey gets you considerably more house than the same budget in Logan or Smithfield: think older farmhouses on half-acre to multi-acre lots, manufactured homes on permanent foundations with shop space, and the occasional newer build along Highway 91. The town itself runs small — under 700 residents — with Downey Junction as the commercial hub and the Downey Hot Springs nearby. Winters are real (single-digit nights aren't unusual) and summers are dry and warm, so heating costs and well/septic systems are worth asking about on any showing.
Buyers in this price band tend to fall into a few camps: remote workers wanting acreage, retirees stretching a fixed budget, and Cache Valley commuters who don't mind the 30-40 minute drive south to Logan or north to Pocatello. Schools fall under Marsh Valley Joint District. Inventory turns slowly compared to Utah metros, so when a well-priced property hits the market it moves — but you also have room to negotiate on homes that have been sitting. Pay attention to water rights, outbuilding condition, and whether a property is on city water or a private well. Browse the active listings below to see what's currently available under the $500K mark.
June 2026 · Downey market
Live from the Utah MLS — what's actually happening in Downey right now.
Median sale
$288,000
1 closed in June 2026
Median DOM
—
listing → contract
Sale-to-list
100.0%
of final list price
Unsold inventory
9
active + pending
11 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.