Department of Numbers

Provo, Utah Home Affordability

The data below measures home affordability for the Provo-Orem, Utah metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Provo home affordability to other cities.

Provo, Utah Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Provo HPI series. Median household income data for Provo is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Provo, Utah Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 103.2
September 2011 102.9
June 2011 101.4
March 2011 103.2
December 2010 108.0
September 2010 108.5
June 2010 106.8
March 2010 107.7
December 2009 104.6

Provo, Utah Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Provo median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Provo, Utah Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 90.3
September 2011 90.0
June 2011 88.7
March 2011 90.3
December 2010 94.5
September 2010 94.9
June 2010 93.4
March 2010 94.2
December 2009 94.8

Provo, Utah Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Provo, Utah and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Provo, Utah Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $286,586
December 2011 $285,201
November 2011 $284,168
October 2011 $281,441
September 2011 $280,091
August 2011 $274,790
July 2011 $265,868
June 2011 $267,115
May 2011 $263,092
April 2011 $257,078
March 2011 $257,078
February 2011 $253,859
January 2011 $259,458

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data. ↩

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