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Homes Under $500,000 in Draper, Utah
Draper's price ladder has shifted a lot since the SUNCREST and Draper Peaks boom, but homes under $500K still show up regularly, mostly condos, townhomes, and older single-family stock near Pioneer Road, Fort Street, and the Bell Canyon/1300 East corridor. This is also where you'll find attached product in newer developments like Traverse Ridge or Corner Canyon-area townhome communities, where builders kept pricing accessible by trading lot size for proximity to the Trax stop and I-15. For buyers priced out of Draper's detached-home market, which routinely clears $650K-$800K, this bracket is often the only realistic entry point into the city.
What you're trading off at this price is usually square footage or land, not location. Many of these homes still sit inside the Canyon School District boundary and put you a short drive from the Draper Fitness Center, Corner Canyon trailheads, and the tech-corridor employers along the Point of the Mountain (Adobe, eBay, Ancestry, Workfront) that make Draper commutes shorter for a lot of Salt Lake and Utah County workers alike. Inventory under $500K moves fast because there's so little of it relative to demand. Browse the active listings below to see what's currently on the market.
August 2026 · Draper market
Live from the Utah MLS — what's actually happening in Draper right now.
Median sale
$935,812
30 closed in August 2026
Median DOM
58 days
listing → contract
Sale-to-list
97.0%
of final list price
Unsold inventory
192
active + pending
37 matching · page 1 of 2
Active listings
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Common questions
About homes under $500k in Draper.
Can I actually buy a single-family home in Draper under $500K? ▾
It's rare but not impossible. Most detached homes at this price are older 1970s and 80s ramblers on smaller lots in the eastern bench neighborhoods, and they usually need cosmetic updates. The bulk of sub-$500K inventory is townhomes and condos.
What HOA fees should I expect in this price range? ▾
Draper townhome and condo HOAs typically run $150 to $300 per month. That usually covers exterior maintenance, landscaping, snow removal, and sometimes water or trash. Always pull the HOA financials and reserve study before closing — a few older complexes in the city have had special assessments for siding or roof replacement.
Which school district serves homes in this price range? ▾
Draper is split between Canyons School District (most of the city) and Alpine School District (the SunCrest area on top of Traverse Ridge). Canyons schools like Draper Elementary, Oak Hollow, and Corner Canyon High consistently rank among the strongest in the state, which is a real draw at this entry price point.
How's the commute to Silicon Slopes and downtown Salt Lake? ▾
Lehi's tech corridor is a 10-15 minute drive south on I-15 outside rush hour. Downtown Salt Lake runs about 25 minutes via I-15 or roughly 40 minutes on FrontRunner from the Draper station. The Point of the Mountain stretch can back up significantly during peak commute times, especially northbound mornings.
Are new construction townhomes available under $500K in Draper? ▾
Occasionally, but new-build townhomes in Draper have largely pushed past $500K over the last few years. You're more likely to find new construction in this price range one city south in Bluffdale or Lehi. In Draper itself, expect resale units built between 2000 and 2018.
Is the SunCrest area a good option in this price band? ▾
SunCrest sits on top of Traverse Mountain at around 6,200 feet, so winters are noticeably colder and snowier than down in the valley — figure on 10-15 degrees cooler and longer plowing seasons. Condos there sometimes fall under $500K and come with trail access and Wasatch views, but the drive down the canyon road is a real consideration in storms.