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Investment Properties for Sale in Payson, Utah
Payson sits at the south end of Utah County, about 20 minutes past Provo on I-15, and it's quietly become one of the more interesting investor markets along the Wasatch Front. Entry prices still run noticeably below Spanish Fork, Springville, and anything closer to Lehi, while the rental pool keeps growing — Nebo School District employees, Mountain View Hospital staff, commuters working the Silicon Slopes tech corridor, and families priced out of northern Utah County all compete for the same housing stock. The Payson Utah Temple, dedicated in 2015, added another layer of long-term demand and pushed steady appreciation through neighborhoods like Salem Hills, Mountain Vista, and the older grid around Memorial Park.
Investor activity here splits into a few clear lanes: single-family long-term rentals in the $350K–$500K range, older fixer properties south of Main Street that work for value-add or BRRRR strategies, and the occasional duplex or ADU-ready home for house-hackers. Short-term rental zoning is tighter than Wasatch or Washington counties, so most buyers underwrite for traditional 12-month leases or furnished mid-term rentals serving traveling medical staff. Property taxes run roughly 0.55–0.65% of market value, and insurance is reasonable since wildfire and flood exposure is limited compared to the canyons. Browse the active Payson listings below to see what's currently on the market and which ones pencil out for your strategy.
May 2026 · Payson market
Live from the Utah MLS — what's actually happening in Payson right now.
Median sale
$510,000
29 closed in May 2026
Median DOM
42 days
listing → contract
Sale-to-list
99.3%
of final list price
Unsold inventory
130
active + pending
20 matching · page 1 of 1
Active listings
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Common questions
About investment properties in Payson.
What kind of rental returns can investors expect in Payson? ▾
Single-family rentals in Payson typically lease in the $1,800–$2,400 range depending on size and condition, with 3-bed/2-bath homes near downtown and the Westfield area being the steadiest performers. Cap rates tend to run tighter than older industrial markets, but appreciation has been strong thanks to Silicon Slopes spillover and the Payson Temple drawing buyers south. Most investors here underwrite for long-term hold rather than high cash flow on day one.
Does Payson allow short-term rentals like Airbnb? ▾
Payson City requires a business license for short-term rentals and they're restricted in most residential zones, so STR plays are limited compared to Park City or Moab. Investors targeting nightly rentals usually look at properties with the right zoning overlay or focus on mid-term furnished rentals for traveling nurses at Mountain View Hospital and contractors working Utah County projects. Always verify current zoning with the city before writing an offer.
Are there fixer-uppers and value-add opportunities on the Payson MLS? ▾
Yes — the older grid south of Main Street and around 100 North has a decent supply of 1940s–1970s homes that trade at a discount to newer Salem Hills or Mountain Vista inventory. These are the typical BRRRR candidates: bring kitchens and baths up to date, add a basement bedroom or ADU where allowed, and rent or refinance. Lot sizes are often generous, which helps resale.
What about multi-family or duplex investments? ▾
Pure multi-family inventory is thin in Payson — most of what hits the MLS is 2–4 unit older properties near the city center or single-family homes with a legal basement apartment. Accessory dwelling units became easier to permit under recent Utah state law, so house-hacking a primary with a basement rental is a common entry strategy for first-time investors here.
Why Payson specifically instead of Spanish Fork or Salem? ▾
Payson still has a lower entry price than Spanish Fork and significantly cheaper than Salem, while sitting right on I-15 with quick access to the tech corridor in Lehi and American Fork. The Payson Temple, hospital, and Nebo School District anchor long-term tenant demand, and Highway 6 traffic toward Carbon County brings consistent demand for workforce housing.
How competitive is the investor market here right now? ▾
Cash and conventional investor offers compete with owner-occupants on anything priced under roughly $400K, so well-priced rentals move quickly. Above that price point, deals sit longer and there's more room to negotiate repairs and closing costs. Working with an agent who tracks days-on-market by neighborhood helps you spot the homes that are actually negotiable.