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Cost of Living in Provo

Is it better to rent or buy in Provo? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$72,322
$1,397/mo

Median in area: $1,397

$462,491

Median in area: $462,491

$92,498

If you Rent

🔑
$1,522 /mo
Base Rent$1,397
Est. Utilities$125
% of Income25.3%
Pre-tax Residual$4,505

If you Buy

🏠
$2,794 /mo
P&I (6.827%)$2,419
Taxes & Ins$250
Est. Utilities$125
% of Income46.4%
Pre-tax Residual$3,233

Cost of Living FAQs

Is it cheaper to rent or buy in Provo?›

Based on median housing data, renting is currently more affordable on a monthly basis in Provo. The estimated all-in monthly cost for renting is $1,522, while owning a median-priced home with a 20% down payment is roughly $2,794 per month (a difference of $1,272).

How much do utilities cost in Provo?›

The average monthly utility cost (electricity and natural gas) for a typical home in Provo is approximately $125. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Provo?›

To comfortably afford the median rent and utilities in Provo without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $60,880 per year.