Homes Under $500,000 in Park City, Utah

Park City carries one of the steepest price tags in Utah — the median home price routinely sits above $1.5 million, and single-family homes in Old Town or Deer Valley regularly clear $3 million. That makes homes priced under $500,000 a genuinely rare category here, and the inventory that does exist tends to skew toward condominiums and townhomes rather than detached houses. Most of what you'll find in this price range sits in developments along the US-40 corridor toward Kimball Junction, communities like Prospector Square, or select older condos closer to the historic Main Street area. Square footage is typically modest — think 600 to 1,200 square feet — but what buyers get in return is real: walkable access to world-class ski resorts, the 400-mile trail network of the Wasatch Back, and a town that sees roughly 300 days of sunshine per year alongside an average 300 inches of annual snowfall at the upper mountain elevations.

For buyers with a $500,000 ceiling, the practical play is often a condo used as a part-time mountain retreat, a rental income property during ski season (Park City's short-term rental market is active and well-established), or a foothold purchase in a market that has historically appreciated faster than most Utah metros. Summit County's property taxes are relatively low compared to resort markets in Colorado, which helps offset carrying costs. Financing can be more complicated for certain condo complexes — FHA and VA loan eligibility varies by HOA warrantability — so lining up a lender familiar with Summit County inventory before you make an offer is worth the extra step. Browse the active listings below to see what's currently available in this price range.