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Homes Under $500,000 in Midway, Utah
Midway sits in the Heber Valley at about 5,600 feet, ringed by the Wasatch Back peaks and roughly 20 minutes from Deer Valley and Park City without the Summit County price tag. The under-$500K segment here is tight — Midway's median has climbed well above that mark over the past few years, so listings in this range tend to be condos and townhomes in communities like Zermatt, Interlaken, and the Crossings at Lake Creek, plus the occasional smaller patio home or older cottage near Main Street. Single-family detached homes under $500K do surface, but they move quickly and usually need updates or sit on smaller lots.
Buyers shopping this price point in Midway are typically getting a second home, a ski-season lock-and-leave, or a foothold in a town where full-size lots routinely trade north of $900K. The trade-off is square footage and land, but the location pays you back: Soldier Hollow cross-country trails, the Homestead Crater, Wasatch Mountain State Park, and a 45-minute drive to SLC International. Winters bring real snow (Midway averages around 70 inches), and summers stay cool at altitude, which is part of why nightly-rental condos here hold their value. Inventory shifts week to week, especially as the ski season approaches, so it's worth checking back often. Browse the active listings below to see what's currently on the market under $500K.
May 2026 · Midway market
Live from the Utah MLS — what's actually happening in Midway right now.
Median sale
$966,500
9 closed in May 2026
Median DOM
12 days
listing → contract
Sale-to-list
96.0%
of final list price
Unsold inventory
106
active + pending
35 matching · page 2 of 2
Active listings
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Common questions
About homes under $500k in Midway.
What kind of homes can I actually get in Midway under $500K? ▾
Mostly townhomes, condos, and the occasional small patio home. Communities like Fox Den, Burgi Hill, the Crown at Midway, and Midway Village tend to have units in this range, typically 2-3 bedrooms between 1,200 and 1,800 square feet. Detached single-family homes under $500K do appear but are uncommon and sell fast.
Are HOA fees high in Midway's under-$500K developments? ▾
They vary, but plan on $200-$450 per month for most townhome and condo communities. Fees usually cover snow removal (a big deal at 5,600 feet), exterior maintenance, and sometimes water or trash. Always pull the HOA financials and reserve study before writing an offer.
How does Midway compare to Heber City for buyers in this price range? ▾
Heber City has more inventory under $500K and more detached homes at this price, while Midway leans toward townhomes and a smaller, more walkable village feel. Midway also tends to hold value better and is closer to Soldier Hollow and the back route to Park City via Wasatch Mountain State Park.
Can I use a home in this range as a short-term rental? ▾
Midway restricts short-term rentals to specific overlay zones — most residential neighborhoods do not allow nightly rentals. A handful of condo projects are nightly-rental approved and command a price premium. Verify zoning and HOA rules with the town and the association before counting on STR income.
How quickly do sub-$500K listings sell in Midway? ▾
When priced correctly, they often go under contract within 1-3 weeks, sometimes faster during ski season and early summer. Setting up instant MLS alerts and being pre-approved are essential — by the time a property hits Zillow, it may already have offers.
What are property taxes like in Midway? ▾
Wasatch County's primary residence tax rate runs roughly 0.55-0.65% of assessed value. Second homes are taxed at the non-primary rate, which is about 1.8x higher — a meaningful jump if you're buying as a vacation property, so factor that into your monthly carrying cost.