Median Home PriceBETTER
$534,713.76
Median Rent
$1,797.85/mo
Price-to-Rent RatioBETTER
24.8
Property Tax RateTIE
0.63%
Price Change (1Y)BETTER
+2.7%
Price Change (5Y)BETTER
+13.4%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$330,848
Median Home Price
$558,753.78
Median RentBETTER
$1,606.76/mo
Price-to-Rent Ratio
29.0
Property Tax RateTIE
0.63%
Price Change (1Y)
+2.2%
Price Change (5Y)
+10.9%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$423,864
Key Differences
Home Prices
Provo's median home price of $534,713.76 is lower than Salt Lake City's $558,753.78 by 4%.
Monthly Rent
Renting in Provo costs $1,797.85/mo compared to $1,606.76/mo in Salt Lake City—a difference of $191.09/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.