This research performs a parametric study based on Equivalent Single Degree of Freedom (ESDOF) models for simplified seismic analysis of unreinforced masonry (URM) structures. This is a necessary action due to the fact that it is not affordable to model and analyze populations of masonry buildings by using detailed continuum-based models during regional seismic damage and loss estimation studies. Hence, this study focuses on the sensitivity of major structural parameters of a selected idealized hysteretic model for URM buildings. The numerical models are subjected to region-specific simulated ground motion time histories generated using validated seismological parameters. The variations in dynamic analysis results are evaluated using statistical tools for major structural and seismological parameters. The results reveal that the strength factor is the most influential structural parameter, whereas magnitude and distance have a significant impact on the response of idealized URM models as seismological parameters. Furthermore, the specific seismic performance exhibiting limited ductility capacity and the narrow margin of safety between the initial state of inelastic behavior and the ultimate (collapse) state for URM buildings is verified by the statistical approaches employed in this study.