Provo Home Prices: $490K, Up 3% — 3 ZIPs Analyzed (2026)

$490,003. That’s the typical home price in Provo, UT as of February 2026, up 3.0% from a year ago. Prices have climbed every month since June, marking eight straight gains.

Quick answer: The average home price in Provo, UT is $490,003 as of February 2026, up 3.0% year over year according to Zillow.

Current Home Prices in Provo

Provo sits below the Utah metro average but above most inland markets in the Intermountain West. The gap between the cheapest and most expensive neighborhoods is wide — $173,000 separates the two.

The 3% annual gain sits close to the long-run US average. It’s slower than the double-digit jumps Utah saw in 2021 and 2022, but faster than flat markets like Austin or Tampa this year.

For a buyer putting 20% down on a $490,003 home, the loan would be about $392,000. At a 7% rate on a 30-year fixed mortgage, monthly principal and interest comes to roughly $2,608. Add property taxes (Utah’s effective rate runs around 0.5%) and homeowner’s insurance, and the all-in monthly cost reaches about $2,900.

A year ago, that same home cost about $475,875. A buyer who waited paid an extra $14,000 — plus a year of rent.

Provo Home Prices by Neighborhood

Three ZIP codes cover the city. The spread between them is steep for a market this size.

Most Expensive

• 84604 — $598,350. The priciest ZIP in Provo, sitting 22% above the citywide median. Rents here run $1,819, the highest in the city and a sign that the area attracts higher-income tenants.
• 84601 — $446,317. The middle of the pack, close to the city center. Rent of $1,469 is roughly in line with what a typical Provo renter pays.
• 84606 — $425,343. Still the third slot — with only three ZIPs, it’s also the cheapest. More detail below.

Most Affordable

• 84606 — $425,343. The lowest-priced ZIP in Provo, about 13% under the citywide median. Rent of $1,128 is the cheapest in the city and 38% less than in 84604.
• 84601 — $446,317. The second-cheapest option, offering a middle-ground price without the premium of 84604.
• 84604 — $598,350. Provo’s top of the market, but worth noting for buyers willing to stretch for the higher-rent area.

Rent vs Buy in Provo

Rent data is available for all three Provo ZIPs. The weighted average across neighborhoods is about $1,472 a month.

Renting saves roughly $1,400 a month at current prices and rates. Over a year, that’s $17,000 a renter could keep — or invest.

The math flips only if you stay long enough to build equity and ride price appreciation. At 3% annual growth, a $490,003 home gains about $14,700 in year one. That’s close to what a renter saves, which means breakeven depends heavily on transaction costs, maintenance, and how long you hold the home.

Rent in 84606 is especially low at $1,128. For a renter in that ZIP, buying the median Provo home would cost nearly 2.6x their current rent.

Population Growth and Migration

Provo’s population growth is slow for Utah. The city added just 375 residents between 2020 and 2024 — a 0.3% increase.

The city actually lost residents from 2020 through 2022 before recovering in 2023 and 2024. Provo in 2024 has only slightly more people than it did four years earlier.

That’s a sharp contrast with neighboring Utah cities:

Lehi, 25 miles north, grew more than 70x faster than Provo. Much of the Wasatch Front’s population gain has happened in those newer suburbs, not in the older established cities.

For the Provo housing market, slow population growth means demand pressure is limited. Price increases come from supply constraints and regional spillover, not from a flood of new residents.

Provo Housing Market Trends

Values dipped mid-2025 before recovering. Here’s the 12-month path:

The bottom hit in June 2025 at $474,556. From there, prices rose every single month — eight consecutive gains. The biggest monthly jump was October (+$2,788). The smallest was January 2026 (+$1,732).

Total change over 12 months: +$14,128, or 3.0%.

The last three months added $2,778. That’s a slower pace than the fall of 2025, when prices were climbing $2,500 to $3,000 a month. Momentum is still positive, but the rate of increase is cooling.

Is Provo a Good Place to Buy in 2026?

The data points to a modest seller’s advantage. Prices are rising, inventory pressure is visible in the eight-month streak of gains, and the year-over-year trend is positive.

But this isn’t a market spiking out of reach. A 3% annual gain is normal by historical standards. Rents remain meaningfully below mortgage payments, which means buyers aren’t under cash-flow pressure to buy now to avoid a rent hike.

The weak population growth is the main caution flag. Provo added fewer than 400 residents in four years. Price gains here depend on people moving in from elsewhere in Utah — especially students and young professionals tied to BYU and the Silicon Slopes corridor — not on natural growth.

If you want the cheapest entry point, 84606 at $425,343 is the answer. If you want the neighborhood with the strongest rent support, 84604 at $598,350 pulls $1,819 a month in typical rent.

Provo Housing Market Outlook for 2026-2027

The 3-month trend shows prices adding about $925 a month. If the current pace continues, Provo could reach roughly $495,000 by summer 2026.

Monthly gains have been shrinking. In October, the market added $2,788. In January, just $1,732. That deceleration suggests the pace of 2025’s recovery may not carry through the rest of 2026.

Two things could change the path. A drop in mortgage rates would bring buyers off the sidelines and push prices higher faster. A sharper economic slowdown, or continued flat population growth, would flatten appreciation instead.

For now, the trend points to continued slow price gains into late 2026. Buyers aren’t facing urgency, but they also aren’t seeing prices fall.

Similar Markets in UT

• Orem — Provo’s immediate neighbor, part of the same metro area, and a close comparison for price and rent.
• Salt Lake City — larger and more expensive, the natural next step up for buyers priced out of Provo.
• Sandy — a Salt Lake suburb with stronger population growth than Provo.
• Ogden — typically more affordable than Provo and a common alternative for budget-focused Wasatch Front buyers.
• West Jordan — a mid-priced Salt Lake County market worth comparing on rent.

Frequently Asked Questions

What is the average home price in Provo?

The average home price in Provo, UT is $490,003 as of February 2026. That number is the Zillow Home Value Index across three ZIP codes. It reflects typical homes in the 35th to 65th percentile of the market.

Are home prices going up or down in Provo?

Prices are up 3.0% year over year. The typical home has gained about $14,000 since March 2025, with eight straight monthly increases following a dip that bottomed in June 2025.

Is it cheaper to rent or buy in Provo?

Renting is cheaper at current prices and rates. The average rent across Provo ZIPs is about $1,472, while a mortgage on the $490,003 median home with taxes and insurance runs closer to $2,900. That’s a $1,400 monthly gap in favor of renting.

What is the most affordable neighborhood in Provo?

ZIP 84606 is the cheapest at $425,343 — about 13% below the citywide median. Rent there averages $1,128, the lowest in the city.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.