Provo is the third-largest city in Utah, with a population of 116,618 residences as of 2019. Located 43 miles south of Salt Lake City, Provo is home to Brigham Young University (BYU), the third-largest private university in the U.S. The economy of Provo is powered by many businesses and organizations, including over one hundred restaurants, two shopping malls, several small businesses, multiple universities and colleges, and several large international companies. Utah Valley Hospital is also located in Provo and is a Level II Trauma Center. The city also has several natural features, national historic landmarks, and Utah’s second busiest airport. Because Provo offers local job opportunities, proximity to Salt Lake City, local activities, colleges and universities, and affordable home prices, Provo’s need for housing has never been greater.
Although Provo is a thriving city in the Western part of the United States, the number of homeowners delinquent on their mortgages prior to COVID was 1.7% of residents. Utah ranked #27th in the U.S. for most foreclosures, and 1 in every 1,276 homeowners were affected, ultimately impacting the Provo area.