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These days, finding an affordable place to live in the Provo area can be challenging. Home prices in Provo are now at a median cost of $556,531, higher than the Utah average of $525,914.
The average cost of rent is $1,800/mo in Provo, primarily driven by the current value of real estate in the Provo area. In Provo, 31.43% of households rent, and 26.06% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Provo is $9,354 per month. Households that rent pay about 19.25% of their income on rent here. Provo’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Orem, UT: less expensive homes
- Vineyard, UT: equally priced homes
- Palmyra, UT: less expensive homes
- Springville, UT: less expensive homes
- Lindon, UT: higher priced homes
- Mapleton, UT: higher priced homes
- Pleasant Grove, UT: equally priced homes
- Lake Shore, UT: equally priced homes
- Spanish Fork, UT: equally priced homes
- American Fork, UT: equally priced homes
Cities with Similar Populations
- Somerville, MA: higher priced homes
- St. Petersburg, FL: less expensive homes
- Spring, TX: less expensive homes
- St. Peters, MO: less expensive homes
- Snellville, GA: less expensive homes
- Shreveport, LA: less expensive homes
- Silver Spring, MD: equally priced homes
- Simi Valley, CA: higher priced homes
- St. Joseph, MO: less expensive homes
- Sioux Falls, SD: less expensive homes
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