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Homes Under $500,000 in Lehi, Utah
Lehi's growth over the past decade has pushed the median home price well past $550,000, which means anything under $500K here now sits below market rather than at the entry level it used to represent. Buyers still find options in this range, but they cluster in specific pockets: townhomes and condos in the Traverse Mountain and Thanksgiving Point areas, older single-family homes near historic downtown Lehi and Main Street, and attached product in newer master-planned sections like Holbrook Farms or Cobblerock. Detached homes with a yard under $500K are getting scarce west of I-15, so most of what shows up in this range is a townhome, twin home, or a smaller starter house built before 2015.
What makes this price point work in Lehi is the access it still buys: a straight shot up I-15 to Silicon Slopes employers like Adobe, Qualtrics, and Ancestry, plus proximity to Utah Lake, the Jordan River Parkway trail system, and Alpine School District boundaries families specifically move here for. Inventory turns over fast because demand from tech workers and young families outpaces what's listed, so homes priced right in this range often go under contract within one to two weeks. Browse the active listings below to see what's currently on the market in Lehi under $500,000.
August 2026 · Lehi market
Live from the Utah MLS — what's actually happening in Lehi right now.
Median sale
$570,000
66 closed in August 2026
Median DOM
29 days
listing → contract
Sale-to-list
99.3%
of final list price
Unsold inventory
372
active + pending
112 matching · page 1 of 5
Active listings
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Common questions
About homes under $500k in Lehi.
What kind of home can I actually get in Lehi for under $500K? ▾
Most of the inventory at this price is townhomes and twin homes between 1,400 and 2,200 square feet, typically 3 bed / 2.5 bath with a 2-car garage. Detached single-family homes under $500K do exist but are usually older (1970s–1990s) or smaller new builds without much yard. Condos and starter homes near Main Street also show up in this range.
Are there new construction homes in Lehi under $500K? ▾
Yes, mostly attached product — townhomes from Ivory, Fieldstone, Lennar, and Richmond American in communities along Pioneer Crossing and Traverse Mountain's lower elevations. Builders often pair these with rate buy-downs or closing-cost credits, which can make the monthly payment more workable than a resale at the same price.
How fast do under-$500K homes sell in Lehi? ▾
Well-priced listings in this range typically go under contract within 1–3 weeks, and the best ones see multiple offers. Lehi's tech employment base keeps demand steady year-round, though winter months (Nov–Feb) tend to be slightly less competitive than spring.
What are HOA fees like on Lehi townhomes in this price range? ▾
Expect $100–$250 per month for most townhome communities, which usually covers exterior maintenance, landscaping, snow removal, and sometimes a clubhouse or pool. A few master-planned areas like Traverse Mountain layer a community HOA on top of a sub-association, so always check both line items before writing an offer.
Which school district serves Lehi homes under $500K? ▾
All of Lehi falls within Alpine School District. Specific boundaries depend on the address — Skyridge High, Lehi High, and Westlake High (in Saratoga Springs) all pull from different parts of the city. The district's boundary lookup tool is the most reliable way to confirm assignments before you offer.
Is a $500K budget enough for a home near the Silicon Slopes tech corridor? ▾
Yes, but mostly for townhomes and attached housing within a 5–10 minute drive of Adobe, Xactware, and the Thanksgiving Point area. Detached homes that walk-to-work close to the tech campuses generally start above $550K. FrontRunner access at Lehi Station also opens up options for commuters willing to take transit.