The Devon at University Place
845 S 750 E,
Orem, UT 84097
Studio - 3 Beds | $1,189 - $2,179
Rental Market Trends in Provo, UT
What is the average rent in Provo, UT?
$1,198/month
Average Rent
654 Sq Ft
Average Apartment Size
-1.7%
Decrease in the Last Year
As of December 2024, the average rent in Provo, UT is $1,198 per month. This is 23% lower than the national average rent of $1,560/month, making renting in Provo more affordable than most cities in the US. When you rent an apartment in Provo, you can expect to pay about $1,196 per month for a studio, $1,198 for a one-bedroom apartment, and around $1,447 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,946 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Provo, UT?
In the past year, rent has decreased by 1.7%, which averages out to $20 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Provo, UT
Last Updated December 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
12%
Below $700/month
24%
$700 - $1,000/month
39%
$1,001 - $1,500/month
22%
$1,501 - $2,000/month
4%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Provo?
Based on current rent prices, Carterville, Franklin South and Foot Hills are the most affordable neighborhoods in Provo.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Provo?
Based on current rent prices, Maeser, River Bottoms and Riverside are the most expensive neighborhoods in Provo.
Neighborhood
Average Rent
Average Sq Ft
Which Provo neighborhoods have the most rentals available?
The neighborhoods in Provo with the most apartments available are Downtown Provo, Riverside and East Bay .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Provo, UT?
Because the average rent in Provo is $1,198, you’ll want to make about $3,993 per month or $47,916 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Provo, UT compare to other nearby cities and neighborhoods?
Use the tool below to compare Provo, UT to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,174/month
-
One Bedroom
$1,342/month
$806/month
Two Bedroom
$1,262/month
$1,606/month
Three Bedroom
-
-
Nearby City Rent Trends
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AMC
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FPI Management
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596
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Avenue5 Residential
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519
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.