Photo: Ntsimp · Public domainEven on the area’s higher pay, Orem costs more to live in than 55% of U.S. towns
It ranks #41 of 119 in Utah for affordability. Up 2.4% in a year, 6% below the Utah typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Provo-Orem-Lehi, UT metro area ($101K). How TownRatings grades cost of living
The grade measures what housing costs against what households in the area earn. Orem’s area earns well above the typical U.S. town ($101K against $74K), but homes, rent and taxes here run higher still. Owners keep up better than renters: 19% of owners pay 30% or more of income for housing (typical U.S. town: 20%), against 46% of renters.
In dollars
- $500Ktypical home, 6% below the Utah typical homeZillow, September 2026
- $1,440a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 98prices across the Provo metro, where the U.S. is 100 (housing 104)BEA Regional Price Parities, 2024
In paychecks the grade
- 4.7 yrsof area income buys the typical home; the typical U.S. town: 3.3$101K, Provo-area income
- 17%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 46%of renters pay 30%+ of income for housing; across Utah: 47%Census 2020–24
- 19%of owners do; the typical U.S. town: 20%Census 2020–24
Housing in Orem, in brief
2026 has already passed 2025
Through August, Orem had permitted 62 new homes in 2026, more than the 26 in all of 2025. New homes ↓
Most new homes are apartments and condos
Of the 2,980 homes permitted in Orem’s past 10 years, 62% were in buildings with two or more homes, not single-family houses. New homes ↓
A median income doesn’t stretch to the towns next door
At Orem’s median income, the calculator’s budget of about $347K covers neither the typical home here ($500K) nor in any of the three neighboring towns. The least expensive is Provo at $479K. Can I afford it? ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; sales and supply are Redfin’s for September 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Orem’s grade
Measured against what households in the area earn, Orem is more affordable than 45% of U.S. towns, #41 of 119 in Utah. Home prices pull the grade down most; property tax holds it up.
Prices here have kept pace with Utah: up 14.9% in five years, against 12.5% statewide (Zillow).
Up 14.9% in five years
About the same pace as Utah (12.5%).
Show as a table
| January | Orem | Utah |
|---|---|---|
| 2017 | $251,000 | $273,000 |
| 2018 | $273,000 | $298,000 |
| 2019 | $303,000 | $325,000 |
| 2020 | $325,000 | $349,000 |
| 2021 | $372,000 | $399,000 |
| 2022 | $453,000 | $496,000 |
| 2023 | $474,000 | $512,000 |
| 2024 | $477,000 | $513,000 |
| 2025 | $483,000 | $525,000 |
| 2026 | $501,000 | $536,000 |
| September 2026 | $500,000 | $533,000 |
A typical Orem home worth $245K in October 2016 is worth about $500K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A balanced market
About 4.4 months of supply: neither buyers nor sellers have a clear edge.
Under ~4 months of supply favors sellers; over ~6 favors buyers.
Redfin Data Center, all residential sales, September 2026.
A typical home costs 4.7 years of area income
The calculator starts from the area income the grade uses. Switch to Orem’s own median, or type yours.
That’s $78K short of a typical Orem home.
A two-bedroom rents for about $1,440 a month here, $1,350 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Orem’s typical property tax (0.41% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,440
Renters already here pay a median of $1,438.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Provo-Orem-Lehi, UT MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
26 new homes permitted in 2025
Builders were permitted 26 new homes in Orem in 2025, all single-family houses, worth about $20.9 million to build. That's 0.3 per 1,000 residents, slower than across Utah (8.8). Over the past 10 years, Orem has permitted 2,980 homes in all.
Between the 2010 and 2020 censuses, Orem gained 9,801 residents while 4,560 new homes were permitted: about 2.1 new residents per new home, about the same as across Utah (2.7).
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 62 | 42 | 20 | $34.3 million |
| 2025 | 26 | 26 | 0 | $20.9 million |
| 2024 | 40 | 34 | 6 | $25.7 million |
| 2023 | 49 | 45 | 4 | $26.3 million |
| 2022 | 375 | 56 | 319 | $82.5 million |
| 2021 | 269 | 125 | 144 | $59.9 million |
| 2020 | 155 | 143 | 12 | $46.7 million |
| 2019 | 753 | 112 | 641 | $163.2 million |
| 2018 | 545 | 290 | 255 | $106.9 million |
| 2017 | 414 | 186 | 228 | $76.6 million |
| 2016 | 354 | 115 | 239 | $76.4 million |
| 2015 | 937 | 140 | 797 | $133.8 million |
| 2014 | 1,028 | 235 | 793 | $149.9 million |
| 2013 | 109 | 109 | 0 | $29.7 million |
| 2012 | 128 | 128 | 0 | $30.8 million |
| 2011 | 187 | 90 | 97 | $31.4 million |
| 2010 | 105 | 101 | 4 | $23.3 million |
| 2009 | 68 | 56 | 12 | $13.5 million |
| 2008 | 127 | 40 | 87 | $22 million |
| 2007 | 328 | 244 | 84 | $66.3 million |
| 2006 | 454 | 287 | 167 | $100.8 million |
| 2005 | 336 | 336 | 0 | $70.7 million |
| 2004 | 349 | 177 | 172 | $55.2 million |
| 2003 | 339 | 149 | 190 | $41.1 million |
| 2002 | 386 | 86 | 300 | $38.4 million |
| 2001 | 202 | 107 | 95 | $27.7 million |
| 2000 | 364 | 190 | 174 | $38.5 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the Utah norm
The median bill is $1,926 (Utah: $2,525), 0.41% of a home’s value a year, against 0.52% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Orem
Only figures published free for the whole country, each labeled with the area it covers: the Provo-Orem-Lehi, UT metro area, or Utah. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 98 | UT 99 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 96 | UT 96 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 79 | UT 79 | metro | BEA, 2024 |
| Other services U.S. = 100 | 99 | UT 99 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Orem vs. its neighbors
Of the 4 towns here with a Zillow value, Orem has the 2nd-lowest.
Questions about the cost of living in Orem
Is Orem expensive to live in?
Measured against what households in the area earn, Orem costs more than 55% of U.S. towns: a C+ for cost of living, #41 of 119 in Utah. The typical home costs 4.7 years of the median household income of the Provo-Orem-Lehi, UT metro area ($101K).
How much does a house cost in Orem?
About $500K, Zillow’s typical value for September 2026, up 2.4% in a year. The Utah typical home is $533K.
What salary do you need to live in Orem?
To buy the typical home with 20% down at 6.3%, about $120,000 a year, keeping the payment (about $2,790 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $58,000.
How much is rent in Orem?
HUD puts a two-bedroom at about $1,440 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,438 (Census 2020–24).
What are property taxes in Orem?
The median bill is $1,926 a year, 0.41% of the median home value (Utah: $2,525, 0.52%), from the Census 2020–24.
Are home prices in Orem going up?
Yes: up 2.4% in the past year and 14.9% in five years, against 12.5% across Utah (Zillow).
Neighbors talk housing
What Orem buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.