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Homes Under $500,000 in Monroe, Utah
Monroe sits in Sevier County in central Utah, about two and a half hours south of Salt Lake City off I-70, and it's one of the few towns left along the Highway 89 corridor where sub-$500K still buys a real piece of property. The town is best known for Mystic Hot Springs and the surrounding ranch land tucked against the Pavant and Tushar mountains, and most of the housing stock reflects that rural character — older farmhouses on big lots, mid-century brick ramblers near Main Street, and newer builds creeping up toward the bench. At this price point buyers regularly see three- and four-bedroom homes with detached shops, irrigation shares, and enough yard for horses or a serious garden, which is the kind of value that disappeared from the Wasatch Front years ago.
The trade-off is location: Monroe is a 15-minute drive to Richfield for groceries, the regional hospital, and Sevier School District's high school, and the nearest commercial airport is St. George (about 2 hours) or SLC (2.5 hours). Winters are cold with real snow, summers run warm and dry, and elevation sits near 5,400 feet so gardens and lawns need irrigation water — which most older Monroe parcels already carry. Buyers under $500K here are usually retirees, remote workers, second-home owners drawn to the hot springs, or families wanting acreage without Heber or Midway prices. Browse the active listings below to see what's currently on the market under $500K in Monroe.
June 2026 · Monroe market
Live from the Utah MLS — what's actually happening in Monroe right now.
Median sale
$340,486
2 closed in June 2026
Median DOM
135 days
listing → contract
Sale-to-list
101.3%
of final list price
Unsold inventory
25
active + pending
27 matching · page 2 of 2
Active listings
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Common questions
About homes under $500k in Monroe.
What does $500K actually buy in Monroe right now? ▾
At this price range in Monroe you're typically looking at 3-4 bedroom homes on a quarter-acre to a full acre, often with a detached shop or outbuildings. Many listings include irrigation shares from the Monroe Canal Company, which is a meaningful add when summer water bills climb. Newer construction is rarer at this number — most inventory is updated older homes or 1990s-2000s builds.
Are there many homes for sale in Monroe under $500K? ▾
Monroe is a small town (population around 2,500), so active inventory is thin — usually a handful of listings at any given time rather than dozens. Most homes that hit the MLS in town fall under $500K, so the price cap isn't the limiting factor; available supply is. Setting up MLS alerts is the practical move since new listings move quickly to buyers from out of state.
Can I get acreage in Monroe for under $500K? ▾
Yes, though it depends on how much. Half-acre to one-acre parcels with a livable home show up regularly in this range. Larger lots of 2-5 acres with a house occasionally come in just under $500K, especially on the south end of town or out toward Elsinore, but they don't sit long.
What's the property tax situation in Sevier County? ▾
Sevier County's effective property tax rate runs around 0.55-0.65%, which is meaningfully lower than Utah, Salt Lake, or Washington County. On a $450,000 primary residence with the residential exemption, expect annual taxes in the $1,400-$1,700 range. Non-primary residences lose the 45% exemption and pay roughly 1.8x that amount.
Is Monroe a good fit for remote workers? ▾
It can be — fiber internet is available through South Central Communications in much of town, which is faster and more reliable than what some Wasatch Front suburbs get. The trade-offs are limited dining, a small grocery selection (Richfield handles the rest), and longer drives for air travel. Buyers who want quiet, dark skies, and outdoor access tend to make it work.
Do homes in Monroe usually come with water rights or irrigation shares? ▾
Many do, particularly older properties on lots large enough to need them. Shares typically come through the Monroe Irrigation Company or Annabella systems and are assigned per parcel. Always confirm share count and transfer terms in the title work — irrigation water is separate from culinary water and is what keeps pastures and gardens alive through July and August.