Orem, UT is an attractive city for those looking to purchase a home. The median value of houses in Orem is $460,500 which is significantly higher than the US median value of $338,100. Additionally, Orem has seen an 8.44% rise in housing prices over the past year which exceeds the US average of 8.27%. This is indicative of the strong demand for housing in Orem and makes it one of the desirable cities to buy a home.
The median home cost in Orem is $460,500. Home appreciation the last 10 years has been 157.2%. Home Appreciation in Orem is up 16.3%.
Average Age of Homes
- The median age of Orem real estate is 35 years old
The Rental Market in Orem
- Renters make up 37.2% of the Orem population
- 1.9% of houses and apartments in Orem, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.