A new ranking for Provo! Consumer advocacy site NerdWallet just released a study on the best places for homeownership. Provo was ranked #3 for the best medium-sized metro area for homeownership in the nation! NerdWallet analyzed the top 100 most populous metro areas to determine which have characteristics that are favorable to homebuyers. Their analysis answers three main questions:
1. Are homes available?
2. Can you afford to live there?
3. Is the area growing?
With a high homeownership rate at 67.8% and monthly homeownership costs at 30.6% of median household income, Provo-Orem is very homebuyer-friendly. The area has also grown faster than the other Utah metro areas on the list — with population growth of 1.6%.
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