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Investment Properties for Sale in Parowan, Utah
Parowan sits at the base of the Red Hills along I-15, about 20 minutes north of Cedar City and less than an hour from Brian Head Resort. That location has quietly turned it into a landing spot for buyers priced out of Cedar City and St. George who still want proximity to Southern Utah University, the regional hospital system, and the ski hill. Investment buyers here are working with a smaller, thinner market than the bigger Washington County towns, which means less competition for deals but also less liquidity if you need to sell fast. Median resale prices in Parowan typically run well under Cedar City's, and older brick homes near Main Street or 100 South can often be picked up for renovation-and-rent numbers that no longer pencil out closer to St. George.
The rental pool here breaks into a few distinct buckets: SUU staff and grad students commuting from Cedar City, seasonal Brian Head workers and ski renters, long-term local families tied to the town's ranching and manufacturing base, and a growing trickle of short-term rental demand from people passing through on I-15 or visiting Brian Head in summer. Parowan's city code and Iron County zoning treat short-term rentals differently block by block, so confirming what's actually permitted on a specific parcel matters more here than in a resort town with blanket STR rules. Property taxes and insurance also run noticeably lower than in fire-zone mountain towns, which helps cash flow on paper. Browse the active listings below to see what's currently on the market.
July 2026 · Parowan market
Live from the Utah MLS — what's actually happening in Parowan right now.
Median sale
$317,000
4 closed in July 2026
Median DOM
57 days
listing → contract
Sale-to-list
98.0%
of final list price
Unsold inventory
35
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.