Quick facts: Provo, UT

Quick Facts

102.4
Cost of Living
above US average
113,523
Population
15.55
Crime Rate per 1000
below US average
$57,943
Median Income
below US average
$529,900
Median House Price
above US average
$1478.89
Average Rent
above US average
11%
Poverty Rate
above US average
4.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $57,943.

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Income Needed to Buy

βœ— Stretch
$166k/year
Based on $529,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $166k vs median $57,943
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Income Needed to Rent

⚠ Stretch
$63k/year
Based on $1478.89/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $63k vs median $57,943
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Provo, UT

Provo, Utah, is a vibrant city located in Utah County, known for its stunning natural beauty and thriving cultural scene. Situated at the base of the Wasatch Mountains, Provo offers a picturesque backdrop with ample recreational opportunities, including hiking, biking, and skiing nearby. The city is home to Brigham Young University (BYU), a major center of education and research, which contributes to its youthful and dynamic atmosphere. Provo boasts a lively downtown area filled with shops, restaurants, and art galleries, as well as the historic Provo City Center Temple. The city's population is diverse, with a strong emphasis on family and community values. Provo is also recognized for its outdoor festivals, including the popular Provo Freedom Festival and the Rooftop Concert Series, which showcases local talent and fosters community spirit. With a mild climate, friendly residents, and a focus on innovation, Provo has been consistently ranked among the best places to live in the U.S., making it an attractive destination for families and individuals alike.

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