Investment metrics, interactive calculators, and data-driven analysis for Provo rental properties.
Pre-filled with Provo medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Provo.
Provo, UT has a population of 116,288 and has been growing at 1.8% annually — above the national average, suggesting steady demand pressure on housing. The median home price of $420,000 paired with median rents of $1,580/mo produces an estimated cap rate of 2.98%.
Property taxes at 0.56% are well below the national average of ~1.1%, providing a meaningful cash flow advantage many investors overlook. The vacancy rate of 3.8% is impressively low, indicating tight rental supply and strong tenant demand — favorable for landlords.
At a price-to-income ratio of 8.0x, homes cost about 8.0 times the local median income of $52,400. This elevated ratio means homeownership is stretched, supporting rental demand but limiting buyer pools. Home values have appreciated at roughly 2.8% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: At current median prices, Provo is challenging for pure cash flow investing. Consider BRRRR strategies with below-market purchases, or look at neighboring metros with stronger price-to-rent ratios.