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Multi-Family Homes for Sale in Monroe, Utah
Monroe sits in Sevier County at the base of the Sevier Plateau, about three hours south of Salt Lake City and twenty minutes from Richfield, the regional hub for jobs, groceries, and the hospital. The town runs around 2,500 residents, has its own geothermal hot springs (Mystic Hot Springs is a known stop for travelers heading to Capitol Reef), and the housing stock leans heavily toward older single-family homes on larger lots. Multi-family inventory here — duplexes, triplexes, fourplexes, or homes with a legal accessory unit — is genuinely thin. When something does come up, it's often a converted older home near Main Street or a small purpose-built duplex on one of the side streets off State Route 118.
Demand drivers are different than what you'd see along the Wasatch Front. Renters in Monroe tend to be hospital workers commuting to Richfield, teachers, retirees who downsized, and seasonal workers tied to agriculture or the nearby Monroe Mountain recreation areas. Rents are modest compared to northern Utah, but so are purchase prices, and cap rates on small multi-family properties here have historically penciled better than they do in Provo or Ogden. If you're buying to house-hack, having a unit to rent while living next door is realistic given the tight rental market. Browse the active listings below to see what multi-family properties are on the market in Monroe right now, and check back often — turnover is slow in a town this size.
May 2026 · Monroe market
Live from the Utah MLS — what's actually happening in Monroe right now.
Median sale
$440,000
5 closed in May 2026
Median DOM
39 days
listing → contract
Sale-to-list
96.7%
of final list price
Unsold inventory
17
active + pending
1 matching · page 1 of 1
Active listings
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Common questions
About multi-family homes in Monroe.
How many multi-family listings are typically active in Monroe at one time? ▾
Usually zero to three. Monroe is a small town and multi-family product is a sliver of the overall housing stock, so weeks can pass between new listings. Setting up an MLS alert is the most practical way to catch one when it hits.
What do duplexes and small multi-family properties sell for in Monroe? ▾
Pricing varies widely with condition and unit count, but small duplexes in Sevier County have generally traded in the $300,000s to low $400,000s in recent years, with fourplexes higher. Older converted homes can come in lower if they need work. Always compare against current Richfield comps since that's the closest active market.
Are rents in Monroe strong enough to cover a mortgage on a duplex? ▾
Often yes, especially if you're putting down 20–25% and the property is in decent shape. Rents typically run $900–$1,300 per side depending on size and condition. Cap rates here are usually better than the Wasatch Front, but vacancy risk is real in a town this small.
Can I add an ADU or convert a single-family home into a duplex in Monroe? ▾
Monroe City zoning allows certain accessory units, but conversions need to go through the city for permits and inspections. Septic capacity is a common limiter on older properties outside the central sewer service area. Call Monroe City offices before you write an offer with a conversion in mind.
Who actually rents in Monroe? ▾
The renter pool skews toward Richfield commuters (Sevier Valley Hospital, Sevier School District, county government), retirees, and some seasonal workers. It's a stable but shallow pool — meaning low turnover when you've got a good tenant, but longer vacancy stretches if one leaves mid-winter.
Is financing different for a multi-family property versus a single-family home here? ▾
If you'll occupy one unit, you can use FHA, VA, or conventional owner-occupant financing on a 2–4 unit property with the same low down payment options as a single-family purchase. Pure investment purchases require 20–25% down and investor-rate pricing. Local lenders in Richfield are familiar with small multi-family deals in Sevier County.