Apartments in Riverbottoms Provo

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18
$2,950
Luxury Riverwoods Townhome
5123 N River Park Provo, UT
3 BR | Available Now
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20
$1,790
Riverwoods 2 Bedroom Condo
5005 Edgewood Dr #207 Provo, UT
2 BR | May. 6, 2024
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Storage
$1,700
664 N. 960 E.
Orem, UT
2 BR | Available Now
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Provo:
April Rent Report

Welcome to the April 2024 Provo Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the April 2024 key findings and figures for the Provo rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Provo and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Provo average rent prices in the chart below.

Monthly Rent Report

$1,400
$1,050
$700
$350
$0
May. 2023
Jun. 2023
Jul. 2023
Aug. 2023
Sep. 2023
Oct. 2023
Nov. 2023
Dec. 2023
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
1 BR       2 BR

Provo Rent Prices Increase From March to April

Provo rent prices increased over the last month. From March to April, the city experienced a 4.35% increase for the price of a one-bedroom apartment. The rent price for a Provo one-bedroom apartments currently stands at $815.0.

When we take a look at the two-bedroom comparison from March to April, Provo experienced a 3.55% increase for the price of a two-bedroom apartment. The rent price for a Provo two-bedroom apartments currently stands at $1,254.0.

April Prices: Provo vs. Surrounding Areas

Rent Prices in Provo and Surrounding Areas

Rent prices have increased in Provo over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Provo suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rents did not increase in any of the Provo suburbs

  • Rents did not decrease in any of the Provo suburbs.

April 2024 Pricing Trends: Provo vs. National Comparisons

New York, NY
San Francisco, CA
Washington, DC
Los Angeles, CA
Chicago, IL
Minneapolis, MN
Columbus, OH
Pittsburgh, PA
$3,994
$3,038
$2,355
$2,347
$1,893
$1,300
$1,264
$1,145
$0
$1,300
$2,600
$3,900
$5,200
Median Rent

Provo Rent Prices More Affordable Than Major Cities

Rent growth in Provo over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Provo average rent prices appear to be relatively affordable for local residents.

The price for a Provo one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Provo and surrounding area rent prices, take a look at the complete data set below.

Data set for Provo and suburbs

1 BR April 1 BR M/M % Change 2 BR April 2 BR M/M % Change

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.