$1,300 Per Month
- 2 Beds
- 1 Bath
- 1,000 Sq Ft
- Payson Downstairs Apartment
1324 Bear Hollow Ln Unit Downstairs Apt, Elk Ridge, UT 84651
Frequently Asked Questions
How much does it cost to rent a condo in Elk Ridge, UT?
The median rent for a condo in Elk Ridge, UT is $1,300 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option.
How much do you need to make to afford rent in Elk Ridge, UT?
To comfortably afford the median rent in Elk Ridge, UT, a household needs to earn roughly $52,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,300 per month in Elk Ridge, UT, renters typically need to show $3,900 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Elk Ridge, UT?
In Elk Ridge, UT, the price-to-rent ratio is 80.1, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Elk Ridge, UT are best for renting a condo?
The best neighborhood for renting in Elk Ridge, UT depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include East Hobble Creek, Provost, Franklin, Downtown Provo and Joaquin, each with its own character and price range.
