Payson Homes under $500,000

Welcome to Payson, Arizona – a hidden gem nestled in the heart of Gila County! Known for its breathtaking natural beauty and vibrant community spirit, Payson offers a unique blend of small-town charm and outdoor adventure. Surrounded by the majestic Mogollon Rim, this picturesque town is a haven for nature lovers, with endless opportunities for hiking, fishing, and exploring the stunning landscapes of the Tonto National Forest.

Payson boasts a rich history and a warm, welcoming atmosphere, making it an ideal place for families, retirees, and anyone seeking a peaceful lifestyle away from the hustle and bustle of city life. With a population of just over 15,000 residents, you’ll find a close-knit community that hosts various events throughout the year, from the popular Payson Rodeo to art festivals that showcase local talent.

If you're looking to invest in your dream home without breaking the bank, Payson has an impressive selection of homes available for under $500,000. Whether you’re searching for a cozy cabin tucked in the pines, a modern family home with spacious yards, or a charming bungalow with easy access to local amenities, Payson has something for everyone.

With its affordable housing market and stunning surroundings, Payson is not just a destination; it’s a lifestyle. Discover the beauty of this enchanting town and find your perfect home in Payson, where adventure awaits at every turn!

Newest Payson Homes under $500,000

$455,000

3 Beds ⋅ 2 Baths ⋅ 7092804 MLS

Imagine waking up to sweeping views of the Payson Golf Course and Green Valley Park, sipping your morning coffee against a serene backdrop, and enjoying front-row seats to Arizona's best fireworks show right from your own front yard! Welcome to 1302 W. Lake Dr.--a move-in ready 1,591 sq. ft. single-level ranch retreat sitting on a spacious 0.40-acre landscaped lot with NO HOA and additional vehicle or RV parking on the west side of the driveway. Embracing true one-level living with no interior steps, this 3-bedroom, 2-bathroom home features a highly desirable split floor plan that seamlessly balances privacy with connection, complete with fresh 2026 interior paint throughout. Embrace the ultimate in Living the Payson Lifestyle, where everyday convenience meets mountain charm close to local schools, shopping, and dining. Whether you are looking for a primary residence, a relaxing second home, or an investment opportunity as a short- or long-term rental, this property delivers endless possibilities. Inside, a welcoming foyer opens to a cozy living room anchored by a warm propane or woodburning fireplace. The fully equipped kitchen boasts an abundance of cupboards, prep space, and storage, flowing effortlessly into the formal dining area where you can step outside to a private, partially fenced rear patio. Thoughtful additions include a dedicated utility room with included washer and dryer, deep closet space, a clean blend of carpet, vinyl, and durable laminate flooring, plus an attached 2-car garage for all your gear. Book your private tour today!

1302 W Lake Drive, Payson

$240,000

3 Beds ⋅ 2 Baths ⋅ 7091445 MLS

Affordable Payson home with plenty of space and great outdoor living areas! Located on a cul-de-sac, this 3 bedroom, 2 bath home offers approximately 1520 sqft of living space on a .15 acre lot. Originally built in 1972 , the home has been expanded over the years creating spacious floor plan with room for family, hobbies or a home office. The one car garage provides additional storage and offers a space for a small workshop. Step outside to enjoy the fenced yard along with the front, side and back covered porches offering great space for relaxing, entertaining and enjoying outdoor living. This is a great opportunity for someone looking for an affordable home and a chance to add their own personal touches, or an investment property with rental potential.

905 N William Tell Circle, Payson

$499,000

3 Beds ⋅ 1 Baths ⋅ 7091068 MLS

Step back in time in the heart of Payson with this charming farmhouse situated on over ¾ of an acre in the heart of Payson. Originally built in the late 1940's, in the 1970s, this property was used as a house church, offering additional character and versatility. The main house features 3 bedrooms and 2 bathrooms, along with a large, family-style kitchen that provides plenty of room for gathering, cooking, and entertaining. A wood stove adds warmth and character, while the 16' x 20' loft provides additional flexible space for hobby area, children's play area, sleeping area or whatever suits your needs. Mature pine and oak trees add shade and character to the property. In the spring, a yard filled with beautiful irises creates a wonderful setting for gardening and outdoor projects. The entire property is fenced, making it a great setting for pets and outdoor living. Adding even more potential, the property includes an additional single-wide dwelling, opening the door to a variety of possibilities. Whether you're looking for a permanent residence, long-term rental, or exploring short-term rental opportunities, this property offers flexibility that is increasingly hard to find. The property also offers RV parking and covered wood storage. The existing two-car garage is currently being used as a workshop, but can easily be converted back to a garage if desired. Lightning rods are installed on the roof for added protection. Located in the heart of Payson and zoned R3-MH, this property offers a combination of location, usable acreage, established landscaping, vintage character, and versality that is hard to find. With a bit of updating, its large lot, mature trees, established gardens, multiple living spaces, workshop, RV parking, and numerous possibilities, there is plenty of opportunity to make this property your own. This is a unique property with character, history and potential. Imagine all the possibilities. Property being sold AS IS.

204 W Frontier Street, Payson

$149,900

2 Beds ⋅ 1 Baths ⋅ 7090989 MLS

Affordable FIXER-UPPER opportunity in East Verde Estates, just minutes north of Payson. CASH or Hard Money. Situated on a spacious double lot overlooking the valley, this property is ready for someone with a vision to bring it back to life and create their own mountain getaway. The real draw is the location. East Verde Estates is a unique mountain community surrounded by the Tonto National Forest and offers private resident access to the East Verde River. Enjoy cooler temperatures, mountain views, wildlife and outdoor recreation while still being a short drive from Payson. The home needs work and is priced accordingly, making it a great opportunity for an investor cabin project or buyer looking for an affordable place in the mountains. Opportunities at this price point are hard to come by!

389 N Nellie Drive, Payson

$425,000

4 Beds ⋅ 2 Baths ⋅ 7090981 MLS

Beautiful 4/2 open floor plan, large primary bedroom, screened in back porch/deck. Downstairs cellar. 4 bedroom is smaller, would make a nice nursery room or office. Two great rooms, roof 2023, exterior paint 2023.

705 W Sherwood Drive, Payson

$259,000

2 Beds ⋅ 1 Baths ⋅ 7089785 MLS

Charming Payson bungalow with a convenient in-town location and the beauty of Arizona's Rim Country close at hand. Enjoy an easy walk to restaurants and shopping, plus quick access to the main highways in and out of town. The Mogollon Rim and the mountain communities of Pine and Strawberry are within reach, offering opportunities to enjoy the area's cooler-weather seasons. Whether you're looking for a full-time home, a vacation retreat, or a second home in Arizona's White Mountains region, this 700-square-foot property is a delightful place to start. Set on a 0.16-acre lot, the home features two bedrooms, one full bath, a comfortable living area, and an eat-in kitchen. Recent updates include new hardwood flooring, new cabinetry, and a new tub and surround. Dual driveways provide versati parking, with room to accommodate an RV. An inviting front yard and handy rear storage unit add to the appeal. Ready for its next owner to bring their finishing touches and make it their own.

708 N Manzanita Drive, Payson

$279,000

2 Beds ⋅ 1 Baths ⋅ 7089404 MLS

Rare opportunity to own a home backing directly to National Forest! This 2-bedroom, 1-bath Payson home offers a peaceful setting with the forest right outside your backyard. Features include a walk-in pantry, lower-level laundry and storage area with separate exterior access, replaced exterior stairs, newer storage shed and roof. The home is ready for someone with a vision and is priced with its condition in mind. With some updating and repairs, this property offers great potential as a full-time residence, mountain getaway, or investment. Enjoy privacy, beautiful surroundings, and the outdoor lifestyle of having National Forest as your neighbor!

506 N Bobby Jones Drive, Payson

$360,000

3 Beds ⋅ 2 Baths ⋅ 7088207 MLS

Clean all electric 3 bedroom, 2 bath home featuring a desirable split floor plan with comfortable living spaces and plenty of functionality. Step outside to the private backyard, fully fenced with a wood privacy fence and featuring a nice back patio perfect for outdoor dining, relaxing, or entertaining. A gazebo offers another great space to unwind, while three sheds provide ample storage. The property also includes a nice sized workshop, ideal for hobbies, projects, or extra workspace. A carport provides convenient covered parking. This home offers a great combination of comfort, privacy, storage, and outdoor living space.

2003 N Fredanovich Circle, Payson

$265,000

3 Beds ⋅ 2 Baths ⋅ 7088199 MLS

Welcome to comfortable, turn-key living in the highly desirable Woodland Meadows community! Offered fully furnished, this 3-bedroom, 2-bathroom home features a fully turn-key interior--just bring your toothbrush! With a little exterior maintenance and personal touch, this home will shine bright while giving you instant equity in a great neighborhood. Interior Features: Split Floor Plan: Thoughtful layout offering maximum privacy between the primary suite and guest bedrooms. Fully Furnished: Move right in! Beautifully decorated and completely furnished for immediate turn-key comfort. Bright & Functional Living Space: Welcoming main living areas designed for easy everyday living and entertaining. Exterior & Workshop Features: Screened-in Porch: Relax year-round in your priv enclosed porch--ideal for morning coffee or cool mountain breezes. Fenced Yard & Dog Run: A fully fenced backyard complete with a dedicated dog run for your four-legged family members. Extended Garage: A 1-car garage featuring an extended workroom/shop area--perfect for hobbies, tools, and extra storage. Value Potential: Needs just a touch of exterior maintenance/minor deferred upkeep--a fantastic opportunity to build quick sweat equity!

117 N Lakeshore Road, Payson

$390,000

3 Beds ⋅ 2 Baths ⋅ 7087013 MLS ⋅ 1,595 SqFt.

Nice 3-bedroom site-built home located in a lovely, established Payson neighborhood. This home features a split floor plan with an open great room layout and a comfortable, functional design. An additional room off the back of the home provides flexible space that could be used as an enclosed porch, hobby or craft room, or additional sitting area. Enjoy the fenced backyard and private covered patio--perfect for relaxing or entertaining. Home is being offered in its current 'as-is' condition.

606 N Blue Spruce Road N, Payson

$390,000

3 Beds ⋅ 2 Baths ⋅ 7086677 MLS ⋅ 1,664 SqFt.

Beautiful cabin home nestled on desirable private lot in ''Woodland Meadows'' located in Payson, AZ. This home incorporates a subtle balance of contemporary finishes with a modern design. This home offers 3 bedrooms, 2 bath(s), an open concept [1,664 sq ft] floor plan, upgraded kitchen w/ raised panel cabinetry, granite counter tops, well maintained appliances, gas cooking, and pantry. Additional home details will also include upgraded vinyl flooring, a dedicated dining space, great room living room space, modern plumbing/lighting fixtures, ceiling fans, and lots of windows offering great natural light throughout the living spaces. The master retreat boasts a spacious sleeping quarters, dedicated vanity, large step-in shower, and a walk-in closet. Lastly, the home features a large.. mud/laundry rooms, a 2-car garage, covered porch space, and a private back yard offering low-maintenance landscaping--perfect for entertaining family and friends. Woodland Meadows offers residents lots of scenic walking paths, forest views, and is within close proximity to dining, shopping, and entertainment in downtown.

104 N Lakeshore Road, Payson

$285,000

2 Beds ⋅ 2 Baths ⋅ 7086262 MLS ⋅ 1,280 SqFt.

SINGLE-LEVEL PAYSON HOME! This charming 2-bedroom, 2-bath home offers 1,280 square feet of comfortable single-level living. The open floor plan features a spacious living and dining area with a cozy woodstove, plus an open kitchen with plenty of room for everyday living and entertaining. Enjoy the outdoors from the covered side deck or open front deck, with a fenced yard providing a great space for pets, gardening, or relaxing. Additional features include a single carport and a convenient storage room. A great opportunity for a full-time residence, weekend getaway, or investment property in Payson!

607 E Drowsey Circle, Payson

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