Provo, UT
Utah County · Pop. 117,335
Ranked #177 of 243 cities
32Crisis
Median Home Price
🏠$420K
3.0% YoY
Median Rent
🔑$1,400
2.0% YoY
Median Income
💰$52K
Rent Burden
📊33.5%
% of income to rent
Income to Buy
🏦$121K
annual income needed
Income to Rent
📝$56K
annual income needed
Price-to-Income
⚖️8.1x
Homeownership
🏡42.0%
Rent vs. Buy
Buy
$2,235/mo
Est. mortgage (7%, 20% down)
Need $121K/yr income
Rent
$1,400/mo
Median rent
Need $56K/yr income
How Provo Compares
| Metric | Provo | Utah | National |
|---|---|---|---|
| Home Price | $420K | $518K | $410K |
| Rent | $1,400 | $1,551 | $1,500 |
| Income | $52K | $93K | $75K |
| Rent Burden | 33.5% | 31.0% | 30.0% |
Key Takeaways
- • Home prices in Provo are 2% higher than the national average.
- • Rent is 7% lower than the national average.
- • You need an income of $121K to comfortably buy a home here.
- • The homeownership rate is 42.0%, compared to 65.0% nationally.