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Homes Under $500,000 in Salt Lake City, Utah
Under $500K in Salt Lake City now buys mostly condos, townhomes, and older single-family homes in need of some work, rather than the move-in-ready detached houses this budget covered five years ago. You'll see the most inventory in Glendale, Rose Park, Poplar Grove, and parts of West Salt Lake, plus condo buildings downtown and near Sugar House. Townhomes in South Salt Lake and Millcreek also land in this range, often built in the last 15 years with HOA dues covering exterior maintenance. Square footage tends to run smaller, commonly 900 to 1,600 square feet, and lots are tighter than in the suburbs, but you're trading space for a shorter commute to downtown, the University of Utah, or the tech offices along the Silicon Slopes corridor to the south.
Interest rates and low inventory have pushed a lot of first-time buyers toward this price bracket, so homes that are priced right and show well tend to move fast, sometimes with multiple offers inside the first week. Older housing stock in these neighborhoods means brick bungalows from the 1920s-1940s sit next to newer infill construction, so condition varies a lot from listing to listing — a home inspection matters more here than in a newer subdivision. Salt Lake's west-side neighborhoods have also seen steady reinvestment over the past decade, with new restaurants and small businesses opening along 900 South and in Poplar Grove. Browse the active listings below to see what's currently on the market.
August 2026 · Salt Lake City market
Live from the Utah MLS — what's actually happening in Salt Lake City right now.
Median sale
$520,000
106 closed in August 2026
Median DOM
20 days
listing → contract
Sale-to-list
97.9%
of final list price
Unsold inventory
809
active + pending
420 matching · page 9 of 18
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.