Markets › Provo
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Provo UT Apartment Market Read
Covers Provo, Orem and Lehi.
Current market read
Balanced market
ConditionBalanced
Balanced on the yearly data, with the monthly figures, asking rents and jobs heating up.
From public data. The situation now, not a forecast.
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The day asking rent growth (now +1.1%) or job growth (now +1.8%) moves half a point, you get an email. Plus two years of history and the report.
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Momentum · which way it's movingRENT + JOBS · UPDATED MONTHLY
Heating
Jobs are growing (September 2026).
Job growthBLS · SEPTEMBER 2026, PRELIMINARY
+1.8%
▲ Hiring, past 12 months
Job growth · 12 months
Oct 2025 to Sep 2026, with Pro
VacancyCENSUS · 2024
Share of rentals sitting empty. A yearly count, last taken 2024, not what sets the condition.
Asking rentZILLOW · MONTHLY
$1,547 a month
September 2026, ▲ up 1.1% on September 2025
Data Provided by Zillow Group
Asking rent · 24 months
Oct 2024 to Sep 2026, with Pro
Census 2024: +3.5% · US avg +4.6%
Median rentCENSUS · 2024
$1,611/mo
Typical rent. A yearly count, last taken 2024
Median rent · 8 yearly counts
2017 to 2025, no 2020, with Pro
In the news · ProvoNEWS · DAILY
Latest local coverage, 3 weeks ago. softer neutral firmer
Provo’s next housing option could be in the backyardDemand vs supplyCENSUS + BLS
Strong demand
DEMAND
Jobs+1.8%
Migration 2025+4.2/1k
SUPPLY
Permits 2025+62%
Vacancy 20243.0%
Rent vs buyWEEKLY RATE · 2024 RENT
+$2,614/mo
Cheaper to rent than buying
rent $1,611 · own $4,225
$1,611RENT
$4,225OWN
Domestic migrationCENSUS · 2025
+4.2/1k
▲ More people moved in from elsewhere in the US than left. A yearly count, last taken 2025.
OUTFLOWINFLOW
Census · BLS · FRED · Zillow · news
For information only. Not investment advice. AI-written summaries can make mistakes.