Department of Numbers

This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

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 2013 108.2
September 2013 106.6
June 2013 103.2
March 2013 99.2
December 2012 98.3
September 2012 95.9
June 2012 94.8
March 2012 94.3

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 2013 96.0
September 2013 94.5
June 2013 91.5
March 2013 88.0
December 2012 87.2
September 2012 85.1
June 2012 84.1
March 2012 83.6

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
February 2014 $294,106
January 2014 $289,621
December 2013 $288,601
November 2013 $295,507
October 2013 $297,983
September 2013 $287,586
August 2013 $288,601
July 2013 $291,678
June 2013 $302,299
May 2013 $322,515
April 2013 $326,145
March 2013 $321,318
February 2013 $322,915

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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