PROVO, Utah (News4Utah) – Being “cost-burdened” as a renter is defined as spending more than 30 percent of your income on rent.
And if you thought that Salt Lake City topped the list of Utah cities – think again.
According to a report by Apartment List, Provo has the highest percentage of cost-burdened renters in the state — even higher than Salt Lake and Ogden metro areas.
“Renting in Provo is pretty brutal right now,” said Christian Petersen.
He says he was renting for a time, but couldn’t afford it — so he moved in back home.
“I’m living with family,” said Petersen.
“But I had to move back, just because the pricing got too much,” added Petersen.
According to Apartment List, 48.1 percent of renters in Provo are cost-burdened.
“There’s going to be 40,000 students at UVU, in a year, and there’s 28,000 at BYU, so that’s 68,000 students that have to find housing that are competing with the average person,” said Pamela Liston with Provo Housing Authority.
She says the growing student population has put pressure on housing supply in a city that is bringing high-tech jobs and becoming more expensive every year.
“This has happened in the last year and a half. I mean, it’s gone crazy,” said Liston.
“We used to see a landlord that would raise it by $25 a year, and now all of a sudden they’re jumping it 150, 250, 300 dollars.”
For context, in Salt Lake, roughly 44 percent of renters are cost burdened.
And in Ogden, 39 percent of renters are cost burdened.