Orem, Utah Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Orem, Utah rental market.
Orem, Utah
Average Apartment Rent
$1,705
Y-o-Y Change in Average
Apartment Rent
0.4%
As of March 2026
Compared to a year ago, Orem, Utah apartments have recorded a 0.4% rent increase.
Orem, Utah Average apartment rent trend
Orem, Utah Average Apartment Rent
Orem, Utah Apartment rent ranges
At 44.19%, apartments priced $1,000 - $1,500 represent the bulk of Orem, Utah rentals, while condos priced Under $1,000 hold the lowest share of the market – 0.37%.
Orem, Utah Housing tenure**
Renters take up 40% of Orem, Utah real estate, occupying a total of 12,126 units, while homeowners live in 18,113 properties.
Median number of rooms of renter-occupied housing units**
4.1
Renter median household income**
$55,894
Average household size of renter-occupied housing units**
2.64
Rental vacancy rate**
3.6%
Orem, Utah Renter-occupied housing units by no. of bedrooms**
There are 5,887 rentals in Orem, Utah with 2 beds making up the highest share of the market, at 49%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 273 units. Overall, the median number of rooms in Orem, Utah homes for rent is 4.1.
Orem, Utah Renter-occupied units by age of householder**
Most condos for rent in Orem, Utah are occupied by residents in the 25 - 34 years age group (31%), followed by those in the 15 - 24 years age group (31%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Orem, Utah Renter-occupied housing units by family type**
Orem, Utah Renter-occupied housing units by the presence of own children**
A total of 7,862 apartments for rent in Orem, Utah, or 65% of all rentals are family households. Additionally, 30% of rental homes include children under the age of 18 – that’s 3,660 units. All in all, the median size of a renter-occupied household in Orem, Utah is 2.64.
Orem, Utah Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 30% of the rental market. In contrast, residents with less than a high school degree reside in 6% of the homes for rent in Orem, Utah.
Orem, Utah Renter-occupied units by year structure built**
The highest share of Orem, Utah apartment rentals, namely 21% or 2,538 units, were Built 2010 - 2019, followed by those Built 1990 - 1999 (20%, 2,378 units), and the ones Built 1980 - 1989 (16%, 1,890 units).
Orem, Utah Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most Orem, Utah renters (48%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Orem, Utah condos for rent is 2019.
Orem, Utah Renter-occupied housing units by vehicles available**
When it comes to transportation options, 41% of Orem, Utah renters have 2 vehicles available per household, 37% of them have 1 vehicle available, and 11% have 3 vehicles available.
Orem, Utah Means of transportation to work of householders living in renter-occupied housing units**
Orem, Utah Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Orem, Utah apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
