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Multi-Family Homes for Sale in Lehi, Utah
Multi-family homes in Lehi sit in one of the fastest-growing rental markets in Utah, driven by Silicon Slopes employers like Adobe, Xactware, Ancestry, and the IM Flash campus, plus the constant inflow of young professionals priced out of Salt Lake County. Duplexes, triplexes, and small fourplexes here tend to cluster in the older grid west of I-15 around Center Street and State Street, where lot sizes allow for accessory units and zoning has historically been more permissive. Newer multi-family product shows up in the Traverse Mountain foothills and along the Thanksgiving Point corridor, usually as townhome-style fourplexes built within the last 10-15 years. Rents in Lehi run noticeably higher than the Utah County average because of the tech-job concentration, which is why investor demand stays steady even when interest rates climb.
Buyers in this market generally fall into two camps: investors running the numbers on cap rate and rent rolls, and house-hackers planning to live in one unit while renting the others to cover the mortgage — a strategy that works well with FHA or VA financing on 2-4 unit properties. Lehi City has tightened short-term rental rules and reviews ADU permits case by case, so verifying current zoning and rental licensing before writing an offer matters more here than in some neighboring cities. Inventory is thin compared to single-family, and well-priced duplexes often go under contract within a week. Browse the active multi-family listings below to see what's currently available in Lehi.
May 2026 · Lehi market
Live from the Utah MLS — what's actually happening in Lehi right now.
Median sale
$589,900
133 closed in May 2026
Median DOM
10 days
listing → contract
Sale-to-list
99.5%
of final list price
Unsold inventory
409
active + pending
4 matching · page 1 of 1
Active listings
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Common questions
About multi-family homes in Lehi.
How common are multi-family properties in Lehi? ▾
They're a small slice of the overall Lehi market — single-family construction dominates the newer subdivisions. Most true duplexes and triplexes are concentrated in the older parts of town west of I-15, with a handful of newer fourplex-style townhome projects near Traverse Mountain and Thanksgiving Point. Active inventory at any given time is usually under a dozen units, so listings move quickly.
Can I use FHA or VA financing to buy a duplex or fourplex in Lehi? ▾
Yes. FHA allows up to 4 units with 3.5% down as long as you occupy one unit as your primary residence for at least a year, and VA offers similar terms with zero down for eligible veterans. House-hacking with these loans is a popular path in Lehi because Silicon Slopes rents typically cover a large portion of the mortgage on the remaining units.
What kind of rents do Lehi multi-family units pull? ▾
Two-bedroom units in Lehi commonly rent in the $1,600-$2,100 range depending on age, location, and finishes, with newer townhome-style units near Traverse Mountain pushing higher. Proximity to Adobe, Xactware, and the FrontRunner station drives a consistent renter pool of tech employees and young families.
Does Lehi allow ADUs or basement apartments on single-family lots? ▾
Lehi City permits internal ADUs in many residential zones, but rules around owner-occupancy, parking, and rental licensing have shifted in recent years. Before assuming a property's basement apartment is legal, verify the rental license status with Lehi City and confirm the unit was permitted — unpermitted second kitchens are common in older homes here.
Are short-term rentals like Airbnb allowed in Lehi multi-family properties? ▾
Lehi has restricted short-term rentals in most residential zones, and enforcement has gotten stricter. If your investment plan relies on nightly rental income, confirm the specific zoning and HOA rules for the address before writing an offer. Long-term rentals (30+ days) are the safer assumption for underwriting.
How do property taxes work on a multi-family in Utah if I don't live there? ▾
Utah gives a 45% primary residence exemption on property taxes — so owner-occupied units get the discount, but non-owner-occupied rentals are taxed at the full assessed value. On a duplex where you live in one side, only your unit qualifies for the exemption, which is worth modeling into your cash flow before purchase.