Orem, UT—84057
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Orem, UT
As of Oct '25, the median home price in Orem, UT is $466,000, with a year-over-year change of 3.3%. This indicates that home prices in Orem, UT are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $466,000 | 3.3% |
| Single Family | $487,000 | 3.6% |
| Condos | $292,000 | -1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $325,000 | -0.3% |
3 Bed | $443,000 | 3.5% |
4 Bed | $491,000 | 2.3% |
| 5 Bed | $566,000 | 2.5% |
% of Housing Stock
Rental Trends — Orem, UT
As of July '25, Rentcast reports the average rent in Orem, UT is $1,600, with a year-over-year rent change of -1.2%. Per bedroom, the median rent as of July '25 in Orem, UT is 1-bedrooms: $933, 2-bedrooms: $1,360, 3-bedrooms: $1,610, 4-bedrooms: $2,350. The most common rental property sizes in Orem, UT are 2-bedroom and 3-bedroom, accounting for 43.0% and 24.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,440 | $1,600 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $650 | $933 |
| 2 Bed Rent | $1,340 | $1,360 |
| 3 Bed Rent | $1,600 | $1,610 |
| 4 Bed Rent | $2,300 | $2,350 |
% of Rental Stock
Property Listings — Orem, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Orem, UT is 69. This is a increase of 29.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $422,000 | -7.0% |
Listing Count | 95 | 21.0% |
| Listings as % of Homes | 0.4% | 21.0% |
Days on Market | 69 | 29.0% |
Demographics — Orem, UT
As of the latest ACS Survey released in 2023, Orem, UT has a population of 37,600, which has decreased by -6.0% over the past 5 years. Orem, UT is a popular place for families, as children make up 28.9% of the population. The area has a moderately educated workforce, with 38.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,600 | -6.0% |
% Under 18 | 28.9% | -4.6% |
% Seniors | 9.9% | 17.9% |
% WFH | 13.9% | 208.9% |
% w/ College Degree | 38.8% | 12.5% |
As of the latest ACS Survey released in 2023, Orem, UT is a predominantly white area, with 65.8% of the population identifying as white. The white population has shrunk by 7.8% in the last 5 years. The second most common race or ethnicity in Orem, UT is hispanic, making up 25.1% of the population. Foreign-born residents account for 13.4% of the population in Orem, UT, and this percentage has decreased by 5.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 65.8% | -7.8% |
% Black | 0.9% | 0.0% |
% Hispanic | 25.1% | 17.3% |
% Asian | 1.6% | -27.3% |
% Foreign Born | 13.4% | -5.6% |
Mortgage and Risk — Orem, UT
According to HUD data as of 2023, there were 567 mortgage originations in Orem, UT, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Orem, UT. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 567 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Orem, UT
As of 2024, the percent of homes in Orem, UT under the Section 8 program is 4.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Orem, UT, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 195 |
Total Units Section 8 | 195 |
% Rentals under Section 8 | 4.5% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $450 | $650 | $1,100 |
| 2 Bedroom | -$70 | $1,340 | $1,270 |
| 3 Bedroom | $180 | $1,600 | $1,780 |
| 4 Bedroom | -$170 | $2,300 | $2,130 |
Affordability — Orem, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $466,000 |
| Median Household Income | $80,200 |