Real Estate Investing in Parowan, Utah (84761)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 84761 (Parowan, UT)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 25.3% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 34.6 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Parowan, UT (84761)?
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Market Analysis: 84761 Parowan
Not every below-median market is a bargain. Parowan's 84761 ZIP clocks in at signals that favor experienced operators who can absorb the risk $419K pricing implies.
Distressed markets are won on execution, not on spreadsheets. ZIP 84761 clocks in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 84761 sits on the difficult end of the UT spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
The 84761 ZIP's population of 3,127 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
Distressed ZIPs reward experience. substantial returns are possible in 84761, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Parowan:
Market Trends
Home Value History (with trend line)
📊 How Does 84761 Compare?
| Metric | 84761 | Parowan | Cedar City, UT | Utah |
|---|---|---|---|---|
| Home Value | $418,915 | $418,915 | N/A | $530,173 |
| 5-Year CAGR | 5.2% | 5.2% | N/A | 7.0% |
| Avg Rent | $1,008 | $1,008 | N/A | - |
| Cap Rate | 1.9% | 1.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 84761 (Parowan, UT). Anonymous, moderated, never written by AI.
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Property managers serving Iron County
Manage rentals here? List your business →Cedar City Property Management provides property management services. summary from their website
Real Property Management Cedar City is a property management company in Cedar City, UT. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $418,915 |
| Monthly Rent | $1,008 |
| Price-to-Rent | 34.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +6.6% ▲ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 10-Year CAGR | +8.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 84761
Population: 3,127
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 84761
Schools in This ZIP Code
About Repit School Scores
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We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What kind of market is Parowan, UT for investors?
With a 3.0/5 investability score, Parowan, UT ranks as a solid market for rental property investors. Median prices of $419K and rents of $1,008/mo drive the underlying numbers.
How much is rent in Parowan, UT?
The typical rental in Parowan, UT commands about $1,008/mo monthly. That rent profile stable cash flow against the $419K purchase basis.
How strict are landlord regulations in Parowan, UT?
UT ranks as a landlord-friendly state for landlord-tenant law. Parowan generally follows the statewide framework, so landlords face reasonable operating rules.
Can I live-in-and-rent in Parowan, UT?
House hacking in Parowan, UT is reasonable to execute. Prices around $419K and rents of $1,008/mo solid owner-occupant economics.
Is vacancy a concern in Parowan, UT?
Parowan, UT sees elevated vacancy, which is reasonable relative to the broader UT rental market.
You know 84761 now. You don’t know where it ranks.
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How 84761 ranks in Cedar City, UT
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