Orem, UT—84058
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 $481,000, with a year-over-year change of 1.8%. This indicates that home prices in Orem, UT are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $481,000 | 1.8% |
| Single Family | $515,000 | 2.4% |
| Condos | $294,000 | 0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $293,000 | 0.0% |
3 Bed | $455,000 | 2.7% |
4 Bed | $522,000 | 1.4% |
| 5 Bed | $641,000 | 1.7% |
% of Housing Stock
Rental Trends — Orem, UT
As of July '25, Rentcast reports the average rent in Orem, UT is $1,510, with a year-over-year rent change of -3.8%. Per bedroom, the median rent as of July '25 in Orem, UT is studios: $974, 1-bedrooms: $864, 2-bedrooms: $1,320, 3-bedrooms: $1,820, 4-bedrooms: $1,400. The most common rental property sizes in Orem, UT are 2-bedroom and 3-bedroom, accounting for 52.7% and 17.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,510 |
| Studio Rent | $850 | $974 |
| 1 Bed Rent | $799 | $864 |
| 2 Bed Rent | $1,280 | $1,320 |
| 3 Bed Rent | $1,750 | $1,820 |
| 4 Bed Rent | $795 | $1,400 |
% 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 64. This is a increase of 9.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $535,000 | 1.0% |
Listing Count | 81 | 37.0% |
| Listings as % of Homes | 0.4% | 37.0% |
Days on Market | 64 | 9.0% |
Demographics — Orem, UT
As of the latest ACS Survey released in 2023, Orem, UT has a population of 34,700, which has decreased by -10.1% over the past 5 years. Orem, UT is a moderately popular place for families, as children make up 23.4% of the population. The area has a moderately educated workforce, with 41.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,700 | -10.1% |
% Under 18 | 23.4% | -19.9% |
% Seniors | 7.6% | 2.7% |
% WFH | 13.7% | 144.6% |
% w/ College Degree | 41.0% | 2.2% |
As of the latest ACS Survey released in 2023, Orem, UT is a predominantly white area, with 71.6% of the population identifying as white. The white population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in Orem, UT is hispanic, making up 20.0% of the population. Foreign-born residents account for 14.8% of the population in Orem, UT, and this percentage has increased by 22.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 71.6% | -4.8% |
% Black | 1.5% | -6.2% |
% Hispanic | 20.0% | 29.9% |
% Asian | 2.0% | -33.3% |
% Foreign Born | 14.8% | 22.3% |
Mortgage and Risk — Orem, UT
According to HUD data as of 2023, there were 346 mortgage originations in Orem, UT, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Orem, UT. Investor activity is low, as 5.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 346 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 5.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Orem, UT
As of 2024, the percent of homes in Orem, UT under the Section 8 program is 2.2%. 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. In Orem, UT, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 142 |
Total Units Section 8 | 141 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $371 | $799 | $1,170 |
| 2 Bedroom | $70 | $1,280 | $1,350 |
| 3 Bedroom | $140 | $1,750 | $1,890 |
| 4 Bedroom | $1,475 | $795 | $2,270 |
Affordability — Orem, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.7 |
| Median Home Price | $481,000 |
| Median Household Income | $71,500 |