Real Estate Investing in Provo, Utah (84606)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 84606 (Provo, UT)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Provo, UT (84606)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 84606 Provo
The 84606 ZIP covers a section of Provo that demands careful diligence. Prices near $427K look accessible, but the work to make a deal cash flow is real.
From an investor standpoint, the numbers look inviting — $427K purchase price, 0.0% nominal cap — the work to hit that pro forma in 84606 is substantial and deserves full respect.
Within UT, ZIP 84606 trails on several market indicators that neighboring Utah County submarkets outperform. The gap is real and resilient enough to shape underwriting.
Who lives in 84606 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 84606 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Provo:
Property Strategy for 84606
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $350,724 | $1,400 | 2.9% | +6.6% | $175,362 |
| 3BR | $410,865 | $1,950 | 3.4% | +7.0% | $136,955 |
| 4BR | $480,051 | $2,350 | 3.5% | +7.0% | $120,013 |
| 5BR | $591,262 | — | — | +7.5% | $118,252 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 84606 Compare?
| Metric | 84606 | Provo | Provo-Orem, UT | Utah |
|---|---|---|---|---|
| Home Value | $427,156 | $372,336 | N/A | $530,173 |
| 5-Year CAGR | 2.9% | 3.6% | N/A | 7.0% |
| Avg Rent | $1,659 | $1,637 | N/A | - |
| Cap Rate | 3.0% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 84606 (Provo, UT). Anonymous, moderated, never written by AI.
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Property managers serving Utah County
Manage rentals here? List your business →ICO Property Management constructs and oversees luxury Utah apartment communities, crafting enriching lifestyle experiences for residents across 17 locations along the Wasatch Front. summary from their website
Property Management Inc. offers residential, association, short-term, commercial, and multifamily property management services. summary from their website
Incline Property Management provides reliable property care for homeowners and investors, handling tenant screening, rent collection, maintenance, and delinquency resolution. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $427,156 |
| Monthly Rent | $1,659 |
| Price-to-Rent | 21.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | +1.5% ▲ |
| 3-Year CAGR | +1.7% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | +17.5% ▲ |
| 3-Year CAGR | +7.4% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 84606
Population: 35,931
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 84606
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How much is rent in Provo, UT?
Investors in Provo, UT typically see rents near $1,659/mo per month against $427K home values - a solid setup for rental cash flow.
Can owner-occupants cash flow in Provo, UT?
For house hackers, Provo, UT is a challenging. The $1,659/mo rent on a unit helps defray the mortgage on a $427K property.
What is the typical home price in Provo, UT?
Provo, UT median home values land near $427K. That is reasonable territory for investors looking at $1,659/mo-per-month rentals.
Is UT a landlord-friendly state?
Provo, UT falls under UT landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
What type of investing works in Provo, UT?
Provo, UT investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($427K prices, $1,659/mo rents) make it a reasonable choice.
You know 84606 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 84606 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 84606 ranks in Provo-Orem, UT
Every ZIP in this metro, ranked. Free.
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