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Homes Under $500,000 in Rexburg, Utah
Finding an affordable home in eastern Idaho just got easier. Rexburg offers an excellent selection of properties under $500K, making it an ideal destination for first-time buyers, young families, and anyone seeking quality housing without stretching their budget. This charming college town, home to BYU-Idaho, combines small-town values with modern amenities, creating a welcoming community where your investment can go further than in many other Utah markets.
Properties in this price range throughout Rexburg typically include well-maintained single-family homes, townhouses, and newer construction options. You'll find neighborhoods with easy access to local schools, parks, and the city's growing retail and dining scene. The area's strong rental market, driven by the university population, also makes these homes attractive for investors. With Rexburg's low crime rates, tight-knit community atmosphere, and proximity to outdoor recreation in the Teton Valley, you're getting exceptional value for your money.
Browse our current listings below to discover available homes that match your budget and lifestyle needs. Each property is updated directly from the MLS to ensure you're seeing the most current information. Ready to schedule a showing or have questions about a specific listing? Our experienced local agents know the Rexburg market inside and out and are here to help you find the perfect home within your price range.
February 2026 · Rexburg market
Live from the Utah MLS — what's actually happening in Rexburg right now.
Median sale
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1 closed in February 2026
Median DOM
19 days
listing → contract
Sale-to-list
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of final list price
Unsold inventory
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active + pending
1 matching · page 1 of 1
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Common questions
About homes under $500k in Rexburg.
What kind of home can I actually get under $500K in Rexburg? ▾
At this price point you're typically looking at 3- to 5-bedroom homes on standard city lots, often with an unfinished or partially finished basement. Newer builds in areas like Sugar City, Salem, and the east side of Rexburg tend to sit toward the upper end of that range, while older homes closer to downtown or BYU-Idaho can come in well under $500K.
Is Rexburg a good market for rental income at this price range? ▾
Yes, a lot of buyers under $500K are specifically looking at homes with 5+ bedrooms or a finished basement apartment because BYU-Idaho's enrollment keeps steady demand for student housing. Homes built or converted for rental income often list with separate entrances or basement kitchenettes, which is worth asking about since not all listings mention it clearly.
How does winter affect what I should look for in this price range? ▾
Rexburg sees real winter with sustained cold and snow load, so furnace age, roof condition, and insulation quality matter more here than curb appeal. Homes under $500K are often older or entry-level builds, so it's worth budgeting for HVAC or roof updates if the seller hasn't already addressed them.
Are there new construction homes under $500K in Rexburg right now? ▾
New construction does show up under $500K, particularly in outlying areas like Sugar City, Salem, and parts of Rigby, though inventory shifts month to month as builders release new phases. Homes inside Rexburg city limits closer to the university tend to be older stock at this price, since land near campus commands a premium.
How competitive is the under-$500K market in Rexburg? ▾
This is the most active price band in the city because it covers both first-time buyer budgets and investor budgets chasing rental income near BYU-Idaho. Well-priced homes with extra bedrooms or a rentable basement tend to move faster than higher-end listings in Rexburg's overall market.
Do property taxes and utilities stay low on homes in this range? ▾
Generally yes, Madison County property taxes run lower than much of Utah, and Rexburg's utility rates are modest compared to bigger metro areas. That said, older homes without updated insulation can run higher heating bills through the winter months, so it's worth asking for utility history before making an offer.