Real Estate Investing in Provo, Utah (84604)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 84604 (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.
- Elevated vacancy: 8.8% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 28.3 — hard to cash-flow at these prices.
What’s happening in Provo, UT (84604)?
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Market Analysis: 84604 Provo
ZIP 84604 inside Utah County looks affordable on the surface — median value of $612K — but the discount exists for reasons that a careful buyer should understand before committing.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $612K asset, 84604 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader UT picture, 84604 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 84604 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Experienced landlords with local relationships tend to find 84604 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Provo:
Property Strategy for 84604
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $390,518 | $1,320 | 2.4% | +6.2% | $195,259 |
| 3BR | $479,635 | $1,840 | 2.8% | +6.8% | $159,878 |
| 4BR | $582,333 | $2,210 | 2.7% | +7.6% | $145,583 |
| 5BR | $782,746 | — | — | +8.1% | $156,549 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 84604 Compare?
| Metric | 84604 | Provo | Provo-Orem, UT | Utah |
|---|---|---|---|---|
| Home Value | $611,722 | $372,336 | N/A | $530,173 |
| 5-Year CAGR | 4.5% | 3.6% | N/A | 7.0% |
| Avg Rent | $1,799 | $1,637 | N/A | - |
| Cap Rate | 2.3% | 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 84604 (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 | $611,722 |
| Monthly Rent | $1,799 |
| Price-to-Rent | 28.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.3% |
| 5-Year IRR | 6.8% |
📈 Home Appreciation
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +4.5% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 Rent Trends
| 1-Year | +3.0% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.3%). 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 84604
Population: 43,749
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 84604
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
Investor Insight: With 17,503 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are rents high in Provo, UT?
Average rent in Provo, UT is approximately $1,799/mo per month. Against $612K home values that yields a reasonable rent-to-price ratio.
How strong is the working-renter base in Provo, UT?
Provo, UT offers a even-keeled renter base at the $1,799/mo rent level. Tenant turnover is reasonable for well-managed properties.
What is the typical home price in Provo, UT?
The median home value in Provo, UT is roughly $612K. That puts it reasonable relative to the UT statewide average.
Is rental property easy to operate in Provo, UT?
UT law landlord-friendly for landlords, and Provo inherits those rules. Investors should still review local ordinances for rental licensing.
What is the best play in Provo, UT?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Provo, UT. The numbers - $612K homes against $1,799/mo rents - support that play.
You know 84604 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 84604 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 84604 ranks in Provo-Orem, UT
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