| Index | Provo | Utah | National |
| Cost of living | 114 | 105 | 100 |
| Groceries | 100 | 101 | 100 |
| Health care | 101 | 101 | 100 |
| Housing | 140 | 113 | 100 |
| Transportation | 99 | 101 | 100 |
| Utilities | 105 | 101 | 100 |
| Lifestyle & Entertainment | 104 | 102 | 100 |
| Household Items | 102 | 102 | 100 |
| Education & Childcare | 107 | 105 | 100 |
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 114, which is 14% 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 are a major factor in the Provo cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 40.2% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
The real experts on a city are its residents. That's why we reached out to 16 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. 50% found it budget-friendly with decreasing prices, while 50% said it's simply not affordable as prices have continued to rise.
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 60.6% higher than what most folks pay across the country, and monthly rent prices are 7.4% lower than the usual rates. Income levels in Provo come in at $75,028, which is 7.8% lower than the national average.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Provo, the housing index stands at 40.2% higher than the national average.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Provo, the general sales tax rate starts at 6.1%, and income tax rates begin at 4.85%.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Provo, the groceries index is 0.5% lower than the national average.
The Provo cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $121,358 | $10,113 | $2,831 | $3,641 |
| Renters | $52,814 | $4,401 | $1,232 | $1,585 |
| State | General Sales Tax | With Max Surtax |
| Utah | 6.1% | 8.35% |
| State | Income Tax (Low) | Income Tax (High) |
| Utah | 4.85% | 4.85% |
| City | Population | Cost of Living Index | National Avg. |
| Payson, UT | 20,937 | 111 | 11.0% |
| Springville, UT | 34,438 | 114 | 14.2% |
| Orem, UT | 101,229 | 115 | 15.2% |
| Spanish Fork, UT | 41,496 | 118 | 17.6% |
| Pleasant Grove, UT | 39,356 | 120 | 20.3% |
| Provo, UT | 119,883 | 114 | 13.5% |
| City | Population | Cost of Living Index | National Avg. |
| Beaumont, TX | 120,037 | 91 | 9.0% |
| Brandon, FL | 119,685 | 110 | 10.1% |
| Clearwater, FL | 120,302 | 111 | 11.0% |
| Terrebonne, QC | 119,135 | n/a | |
| Independence, MO | 120,977 | 90 | 9.7% |
| Provo, UT | 119,883 | 114 | 13.5% |
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