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Investment Properties for Sale in Parowan, Utah
Parowan sits at the north end of Iron County, about 20 minutes from Cedar City and roughly 30 minutes from Brian Head ski resort. That geography is the whole investment thesis here. Long-term rentals lean on Southern Utah University students, SUU staff, and Iron Springs Industrial Park workers who want cheaper rent than Cedar City. Short-term rentals lean on Brian Head skiers in winter, Yankee Meadow and Vermillion Cliffs visitors in summer, and the I-15 traveler crowd year-round. Entry prices in Parowan still run noticeably below Cedar City — small single-family homes on the historic grid often trade in the $250K–$400K range, with newer builds on the south and east edges pushing higher. That gap is what makes the cash-flow math work for buyers priced out of St. George or Washington.
Before you write an offer, check the zoning and the city's nightly rental rules — Parowan does permit STRs in certain zones but requires licensing, and HOAs in newer subdivisions sometimes restrict them outright. Older homes on Main Street and the surrounding blocks have character (red brick, original 1800s pioneer stock in some cases) but often need roof, plumbing, or electrical updates that affect your rehab budget. Duplexes and small multi-family are rare here, so most investors end up with single-family rentals or a small portfolio of them. Browse the active listings below to see what's currently on the market, and reach out if you want rent comps or STR revenue data for a specific address.
June 2026 · Parowan market
Live from the Utah MLS — what's actually happening in Parowan right now.
Median sale
$630,000
3 closed in June 2026
Median DOM
24 days
listing → contract
Sale-to-list
97.8%
of final list price
Unsold inventory
31
active + pending
6 matching · page 1 of 1
Active listings
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Common questions
About investment properties in Parowan.
What kind of rental income can a Parowan property realistically generate? ▾
Long-term single-family rents in Parowan typically run $1,400–$2,000/month depending on size and condition, with 3-bed homes near the upper end. Short-term rentals near Brian Head's commute route can pull $150–$250/night in ski season but drop sharply in shoulder months, so annual STR gross often lands in the $25K–$45K range for a well-managed 3-bedroom.
Does Parowan allow short-term rentals? ▾
Yes, but with rules. The city requires a business license and a nightly rental permit, and STRs are restricted to specific zones — primarily commercial and some mixed-use areas, not all residential streets. Always confirm zoning with Parowan City before assuming a property can be operated as an Airbnb or VRBO.
Why invest in Parowan instead of Cedar City? ▾
Price. Comparable homes in Parowan often run 15–25% less than Cedar City, which improves cap rates for long-term holds. The tradeoff is a smaller tenant pool and slower appreciation history, but commuter demand from workers priced out of Cedar City has been steady.
Are there multi-family properties available in Parowan? ▾
Duplexes, triplexes, and small apartment buildings come on the market occasionally but inventory is thin — usually a handful per year at most. Most investors here build a portfolio of single-family rentals rather than waiting for multi-family deals.
What should I budget for repairs on older Parowan homes? ▾
Many homes on the historic grid date to the late 1800s or early 1900s. Plan for possible knob-and-tube wiring, galvanized plumbing, original windows, and foundation settling. A thorough inspection is non-negotiable, and a $15K–$40K rehab budget on top of purchase price is common for older stock.
How's the property tax picture for non-owner-occupied homes? ▾
Utah taxes non-primary residences at the full assessed rate rather than the 55% residential exemption owner-occupants get, so your effective tax bill on a rental is roughly 1.8x what an owner would pay. Factor that into your cash-flow analysis before making offers.