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Homes Under $500,000 in Midway, Utah
Midway isn't the place people expect to find affordable homes, and honestly, it's getting harder every year. Between Soldier Hollow, the Swiss-town charm around Main Street, and the ring of horse properties backing up to the Wasatch, this Heber Valley town has become one of the pricier corners of Wasatch County. Homes under $500K here tend to be condos and townhomes in developments like Michael's Pointe, Chalet Village, or smaller patio-home communities near Deer Mountain Boulevard, along with the occasional older single-family home on a small lot that hasn't been remodeled to luxury standards. Detached homes with real land at this price point are rare and usually move fast.
What draws buyers to this range in Midway is proximity without the Park City price tag — you're still 25 minutes from Park City Mountain Resort and about 10 minutes from Deer Creek Reservoir, but paying condo money instead of estate money. Winters here are colder and snowier than the Salt Lake valley, and HOA dues matter more at this price point since many of these properties include snow removal, exterior maintenance, and sometimes access to shared hot springs-fed pools, a nod to Midway's famous crater pools nearby. Inventory under $500K turns over quickly in this market, so it's worth watching new listings closely. Browse the active listings below to see what's currently on the market.
August 2026 · Midway market
Live from the Utah MLS — what's actually happening in Midway right now.
Median sale
$958,750
6 closed in August 2026
Median DOM
101 days
listing → contract
Sale-to-list
99.7%
of final list price
Unsold inventory
107
active + pending
52 matching · page 3 of 3
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.