Rent to own Homes in Provo, UT
Provo, Utah, has received lots of mentions as a great place to live from many publications, including Where to Retire, National Geographic Adventure, and Forbes. Located about 40 miles south of Salt Lake City, Provo lies between Utah Lake and the Wasatch mountain range, and is central to the Provo-Orem metropolitan area, which has a population of more than half a million residents. The city is home to Brigham Young University and also the largest training center for the Church of Jesus Christ of Latter-day Saints missionaries. Provo has been a technology development focus area for the state and is home to Novell, a leading software company, as well as many smaller tech firms.
Provo, UT is a great place for affordable rent-to-own homes! With a median household income of over $50,072 and a median rent of $901, the Provo, UT rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Provo, UT. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Provo, UT Property Resources
Rent to own Homes in Cities Near Provo, UT
- Alpine
- Alta
- American Fork
- Benjamin
- Bluffdale
- Brighton
- Cedar Fort
- Cedar Hills
- Cedar Valley
- Charleston
- Copperton
- Cottonwood Heights
- Draper
- Eagle Mountain
- East Basin
- Emigration Canyon
- Fairfield
- Granite
- Heber
- Heber City
- Herriman
- Highland
- Hobble Creek
- Holladay
- Interlaken
- Kearns
- Lehi
- Lindon
- Midvale
- Millcreek
- Murray
- Orem
- Palmyra
- Park City
- Pleasant Grove
- Provo
- Salt Lake City
- Silver Summit
- Snyderville
- South Salt Lake
- Spanish Fork
- Springville
- Summit Park
- Sundance
- Taylorsville
- Vineyard
- Wallsburg
- West Jordan
- West Mountain
- West Valley City
Neighborhoods in Provo, UT
Carterville rent to own homes Central Business District rent to own homes Dixon rent to own homes East Bay rent to own homes Edgemont rent to own homes Foot Hills rent to own homes Fort Utah rent to own homes Franklin rent to own homes Franklin South rent to own homes Grand View North rent to own homesPopular Zip Codes in Provo, UT
84605 rent to own homes 84606 rent to own homes 84602 rent to own homes 84601 rent to own homesBuying a Home in Provo, UT
Provo, UT is seeing rapid growth and Provo, UT's' housing market remains not optimal with an average home price that is 37% above the 2024 national average. Provo, UT is part of Utah county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Utah is 0.55% which is below the national average, which is 0.99%.
Median Home Price in Provo, UT
Median Rent in Provo, UT
Top Reasons to Live in Provo UT
Housing Statistics As of September, 2013, the average home sales price in Provo was $199,000, and the metro area saw 9,850 sales transactions. There are 30,412 houses in Provo and 29,225 are occupied, giving it a vacancy rate of 4 percent. Renters occupy 57 percent of the homes in Provo, which is consistent with the state average. Rental rates in Provo are almost 15 percent lower than the national average and average apartment rental rates hover around $500 per month for a one to two bedroom apartment. There are typically between 300 and 400 homes for sale at any given time, and a number of rent to own homes are available.
Largest Employers and Industries Brigham Young University employs over 4,000 people in Provo, and the connected missionary training center employs an equal number. NuSkin, a company that makes and markets personal care products and dietary supplements, employs about 3,700 people. The home security and energy conservation company, Vivint, employs 3,000. Other large employers are the Utah Valley Regional Medixal Center, Provo School District, Novell, Utah County, Ancestry.com and the City of Provo. Additionally, there are five companies in Provo that are listed on the Inc. 5000 list of fastest-growing private businesses in the U.S. They include DieCuts With a View, VitalSmarts, and Connect Public Relations.
School Systems The Provo School District runs all of the public schools in the city, with a board comprised of seven members representing districts in the city. There are three high schools, two middle schools and thirteen elementary schools, as well as an e-school for residents. Freedom Academy is an independent school system that currently runs a K-8 program and is planning to add a high school to its northwest Provo campus. Walden School of Liberal Arts is a K-12 Montessori program that blends math, science, language arts, humanities and fine arts with its Montessori curriculum.
Neighborhoods Provo has five general areas divided into 34 smaller, distinct neighborhoods. The Neighborhood Program was designed under the City Council's direction to facilitate communication between local government and citizens. Each of the neighborhoods has a Neighborhood Officer assigned as part of the Community Oriented Policing Program (C.O.P.) to enhance communications. The five areas are described here: