B-
12%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
41%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Provo Utah National
Cost of living112104100
Goods & Services102102100
Groceries9899100
Health care9691100
Housing141114100
Transportation107105100
Utilities9195100

An Overview of Cost of Living in Provo, UT

Getting a feel for the cost of living in Provo is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Provo is 112, which is 12% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Housing costs significantly influence the Provo cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 41.4%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

What Do Locals Say About the Cost of Living in Provo?

The real experts on a city are its residents. That's why we reached out to 14 locals to get their views on the cost of living in Provo. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 57% found it budget-friendly with decreasing prices, while 43% said it's simply not affordable as prices have continued to rise.

Is Provo Affordable?

Is Provo an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Provo, the median home price is 61.3% higher than what most folks pay across the country, and monthly rent prices are 5.1% lower than the usual rates. Income levels in Provo come in at $50,072, which is 9.5% lower than the national average.

What Factors can Influence the Cost of Living in Provo?

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Provo, the groceries index is 1.7% lower than the national average.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Provo, the utilities index registers 8.8% lower than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Provo, healthcare costs are 3.9% lower than the national average.

Where is the Data From?

The cost of living in Provo, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Provo is 8% higher than the Utah average
  • The cost of living in Provo is 12% higher than the national average
  • Provo housing is 41% higher than the national average
  • Utah general sales tax is 20% higher than the national average
  • Utah state income tax is 87% higher than the national average

Most Affordable Places to Live in and Around Provo

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Compare Provo, UT Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$80,479$6,707$1,878$2,415
      Renters$35,218$2,935$822$1,057
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Provo, UT, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Provo homeowners, is $80,479. This would allow for a maximum of $1,878 per month to be spent on housing costs. For renters, the median monthly income is $35,218 which would result in a maximum of $822 to be spent on rental costs.

      Utah Sales Tax

      State General Sales Tax With Max Surtax
      Utah 6.1% 8.35%

      Utah Income Tax

      State Income Tax (Low) Income Tax (High)
      Utah 4.85% 4.85%

      Goods & Services

      Item Provo National avg. Difference
      Haircut $20.85$24.2614.1%
      Beauty Salon $48.42$45.566.3%
      Toothpaste $3.58$3.703.4%
      Shampoo $1.18$1.287.6%
      Movie $12.31$12.131.5%
      Bowling $20.93$18.0016.3%

      Groceries

      Item Provo National avg. Difference
      Ground Beef $5.79$5.840.9%
      Fried Chicken $1.39$1.5711.9%
      Milk $4.62$4.671.2%
      Potatoes $4.61$4.936.6%
      Pizza $12.02$12.090.5%
      Beer $10.69$10.412.6%

      Health Care

      Item Provo National avg. Difference
      Optometrist $119.08$125.685.3%
      Doctor $128.07$135.785.7%
      Dentist $99.10$113.2912.5%
      Ibuprofen $10.51$10.651.3%
      Lipitor $546.75$468.6016.7%

      Housing

      Item Provo National avg. Difference
      Home Price $298,000.00$184,700.0061.3%
      Avg. Mortgage Payment $2,790.73$2,346.6918.9%
      Apartment Rent $901.00$949.005.1%

      Transportation

      Item Provo National avg. Difference
      Gasoline $3.58$3.463.4%
      Tire Balancing $69.63$59.9216.2%

      Utilities

      Item Provo National avg. Difference
      All Electricity $165.50$193.9914.7%
      Phone $192.69$192.250.2%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Payson, UT20,1811098.9%
      Orem, UT97,88311413.7%
      Springville, UT33,25111413.9%
      Spanish Fork, UT40,06911515.0%
      Pleasant Grove, UT38,47411818.4%
      Provo, UT116,88611212.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Rochester, MN117,1341044.2%
      Independence, MO117,1398812.1%
      Fairfield, CA116,54415049.7%
      Beaumont, TX117,321927.7%
      Lansing, MI117,4888416.5%
      Provo, UT116,88611212.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.