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Homes Under $500,000 in Salt Lake City, Utah
Under $500K in Salt Lake City puts you squarely in the city's working-buyer price band — think condos in Sugar House, smaller bungalows in Rose Park and Glendale, townhomes near the U of U medical campus, and 1940s-era cottages in Poplar Grove or South Salt Lake. The city's median sits north of $550K, so listings below half a million tend to move quickly, especially anything detached with a yard inside the I-215 loop. Expect older housing stock (lots of brick ramblers and post-war bungalows), smaller lots, and the trade-offs that come with mature neighborhoods: established trees, walkable blocks, and sometimes a kitchen that hasn't been touched since the Carter administration.
Location matters more than square footage at this price. A 1,200 sq ft bungalow in 9th & 9th will price similarly to a 2,000 sq ft townhome out near Redwood Road because of access to TRAX, downtown jobs, and the restaurant scene. Buyers using FHA or VA financing tend to do well here since many sellers in this range are open to concessions, and condo communities in Central City and the Avenues fringe regularly meet FHA approval. Inventory shifts week to week — pending sales close fast in spring and early summer, then loosen up after Labor Day. Browse the active listings below to see what's currently on the market under $500K in Salt Lake City.
April 2026 · Salt Lake City market
Live from the Utah MLS — what's actually happening in Salt Lake City right now.
Median sale
$575,000
269 closed in April 2026
Median DOM
11 days
listing → contract
Sale-to-list
99.9%
of final list price
Unsold inventory
765
active + pending
342 matching · page 1 of 15
Active listings
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Common questions
About homes under $500k in Salt Lake City.
What kind of home can I actually get under $500K in Salt Lake City? ▾
Most active listings in this range are 2-3 bedroom condos and townhomes, smaller detached bungalows from the 1920s-50s, or updated mobile homes on owned land. Detached single-family homes under $500K usually run 900-1,400 sq ft and sit west of I-15 in neighborhoods like Rose Park, Glendale, and Poplar Grove, or in pockets of South Salt Lake.
Which Salt Lake City neighborhoods have the most inventory under $500K? ▾
Rose Park, Glendale, Poplar Grove, Fairpark, and parts of South Salt Lake consistently carry the most sub-$500K listings. You'll also see condos and townhomes in Sugar House, Central City, downtown high-rises, and along the 9th South corridor. The Avenues and Sugar House proper rarely have detached homes at this price.
Are HOA fees a big factor at this price point? ▾
Yes — a large share of sub-$500K listings are attached product with HOAs running $150-$400/month. Older downtown condo buildings can run higher if they include water, sewer, trash, and exterior maintenance. Always check the HOA's reserve study and any pending special assessments before writing an offer.
Can I use FHA or VA financing on homes in this range? ▾
Absolutely, and many buyers do. The 2024 FHA loan limit for Salt Lake County is well above $500K, so you have room. For condos, confirm the project is FHA- or VA-approved before you fall in love — not every building qualifies, and getting a spot approval added mid-deal slows things down.
How fast do homes under $500K sell in Salt Lake City? ▾
Well-priced, move-in-ready homes in this band routinely go pending in under two weeks, and multiple offers still happen on anything updated near TRAX or the U. Homes needing significant work sit longer and often see price reductions after 30-45 days, which can be opportunities for buyers comfortable with renovation.
Should I expect older homes to need work? ▾
Plan on it. A lot of sub-$500K detached homes in Salt Lake City were built before 1960, which means knob-and-tube wiring in some attics, original sewer laterals, galvanized supply lines, and minimal insulation. A scope (sewer camera) and a thorough inspection are non-negotiable here — the cost of those few hundred dollars saves five-figure surprises later.