Provo, UT Rental Market
Provo is the home of Brigham Young University, which with its 35,000+ students creates one of the youngest median-age populations of any US city and an enormous base of student rental demand. The broader Utah County tech sector — part of Silicon Slopes — includes major operations from Qualtrics (founded in Provo), Vivint, and a growing cluster of SaaS companies, adding high-income professional tenants to the rental market alongside the student population.
Get a rent estimate for an address in ProvoAverage Rent in Provo, UT
$1,380
per month · 2026-06
Market Score
Key Facts — Provo, UT Rental Market
- Average rent in Provo, UT:$1,380/mo
- Median rent:$1,270/mo
- Rent range:$700 – $3,050/mo
- Most common rental (2 bedrooms):$1,200/mo
- Active listings:820
- Avg days to lease:28 days
- Year-over-year change:+3.0%
- Median home value:$370,000
- Est. gross annual yield:4.5%
- Data as of:2026-06
Rent by Bedroom in Provo, UT
Average monthly rent for each bedroom type based on current active listings in Provo.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $1,000/mo |
2 Bedrooms | $1,200/mo |
3 Bedrooms | $1,550/mo |
4 Bedrooms | $1,900/mo |
5 Bedrooms | $2,175/mo |
Provo Rental Market Statistics
Key indicators from the current Provo, UT rental market.
820
Available now in Provo
28
From list to lease
$1.06
Average across listings
1,300 sq ft
Typical rental size
$700 – $3,050
Min to max active listings
+3.0%
Avg rent vs. prior year
Investing in Provo, UT Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$370,000
Typical purchase price in Provo
Est. Gross Annual Yield
4.5%
Before expenses & vacancy
Avg Monthly Income
$1,380
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Provo for a full cash-flow breakdown including all costs.
Provo, UT Rental Market FAQ
Common questions about renting and investing in Provo, UT.
What is the average rent in Provo, UT?
The average rent in Provo, UT is $1,380 per month as of 2026. One-bedroom apartments average $1,000/mo, two-bedrooms average $1,200/mo, and three-bedroom homes average $1,550/mo. The "Raintree" area and neighborhoods immediately adjacent to BYU's campus command strong demand during the academic year, while Riverwoods and south Provo attract tech sector professionals.
Is Provo, UT a good place to invest in rental property?
Provo offers a 4.5% estimated gross yield with steady 3.0% year-over-year rent growth. BYU's 35,000+ students provide consistent base demand for smaller units, while the Silicon Slopes tech sector creates demand for quality 2- and 3-bedroom rentals. Utah County's remarkable population growth — fueled by one of the highest birth rates in the US — ensures a continuous pipeline of new renters entering the market each year.
How competitive is the Provo, UT rental market?
Provo has approximately 820 active listings and averages 28 days on market. The BYU leasing cycle (March–August) creates a predictable surge in student housing demand that active landlords can capitalize on. Properties near campus and along University Avenue lease fastest during peak season. The growing tech sector in north Provo and American Fork creates year-round demand from professional tenants independent of the student cycle.
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