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Homes Under $500,000 in Monroe, Utah
Monroe sits in Sevier County along the base of Monroe Mountain, about 20 minutes south of Richfield and roughly two hours south of Salt Lake City on I-15. It's a small farming and hot-springs town — Monroe Hot Springs still draws visitors — with a population under 2,500, which keeps land parcels larger and prices well below Wasatch Front and Southern Utah resort-market rates. Under $500K here isn't a stretch niche; it's the bulk of the market, covering everything from older brick homes near Main Street to newer construction on half-acre-plus lots with mountain views and room for animals.
Buyers moving to Monroe are typically looking for a slower pace, agricultural or hobby-farm land, or affordability that lets them commute to jobs in Richfield or Sevier County without paying Park City or St. George prices. Winters are colder and snowier than southern Utah towns like Cedar City or St. George, so heating costs and roof condition matter more in your budget math here. Because inventory is thin — Monroe often has only a handful of active listings at any time — homes in good condition under $500K tend to move quickly once they hit the market. Browse the active listings below to see what's currently available.
August 2026 · Monroe market
Live from the Utah MLS — what's actually happening in Monroe right now.
Median sale
$372,500
6 closed in August 2026
Median DOM
9 days
listing → contract
Sale-to-list
98.3%
of final list price
Unsold inventory
21
active + pending
31 matching · page 2 of 2
Active listings
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Common questions
About homes under $500k in Monroe.
What does $500K actually buy in Monroe right now? ▾
At this price range in Monroe you're typically looking at 3-4 bedroom homes on a quarter-acre to a full acre, often with a detached shop or outbuildings. Many listings include irrigation shares from the Monroe Canal Company, which is a meaningful add when summer water bills climb. Newer construction is rarer at this number — most inventory is updated older homes or 1990s-2000s builds.
Are there many homes for sale in Monroe under $500K? ▾
Monroe is a small town (population around 2,500), so active inventory is thin — usually a handful of listings at any given time rather than dozens. Most homes that hit the MLS in town fall under $500K, so the price cap isn't the limiting factor; available supply is. Setting up MLS alerts is the practical move since new listings move quickly to buyers from out of state.
Can I get acreage in Monroe for under $500K? ▾
Yes, though it depends on how much. Half-acre to one-acre parcels with a livable home show up regularly in this range. Larger lots of 2-5 acres with a house occasionally come in just under $500K, especially on the south end of town or out toward Elsinore, but they don't sit long.
What's the property tax situation in Sevier County? ▾
Sevier County's effective property tax rate runs around 0.55-0.65%, which is meaningfully lower than Utah, Salt Lake, or Washington County. On a $450,000 primary residence with the residential exemption, expect annual taxes in the $1,400-$1,700 range. Non-primary residences lose the 45% exemption and pay roughly 1.8x that amount.
Is Monroe a good fit for remote workers? ▾
It can be — fiber internet is available through South Central Communications in much of town, which is faster and more reliable than what some Wasatch Front suburbs get. The trade-offs are limited dining, a small grocery selection (Richfield handles the rest), and longer drives for air travel. Buyers who want quiet, dark skies, and outdoor access tend to make it work.
Do homes in Monroe usually come with water rights or irrigation shares? ▾
Many do, particularly older properties on lots large enough to need them. Shares typically come through the Monroe Irrigation Company or Annabella systems and are assigned per parcel. Always confirm share count and transfer terms in the title work — irrigation water is separate from culinary water and is what keeps pastures and gardens alive through July and August.