Cost of Living in Provo, UT

With a cost of living index of 104, Provo, UT is somewhat more expensive than average. Living here is 4% more expensive than the national average and 3% below the Utah state average of 108. As a major city with a population of 114,303, Provo offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Provo's cost of living. The median monthly rent is $1,152 (13% below the US median of $1,319), and the median home value sits at $437,100 (43% above the national median of $304,900). At current prices, the median home costs roughly 7x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Provo is $62,800, which is 16% lower than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Provo-Orem-Lehi, UT (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.