Cost of Living in Orem, UT
Housing
The housing market plays a significant role in determining the cost of living in Orem, UT.
- Housing Index: 110.0 / 100
- Median Home Price is: $465,000
- Average Rent (2 BR Apartment): $1600 per month
- Average Rent (2 BR House): $1640 per month
In evaluating the housing situation in Orem, UT, the current housing index stands at 110.0. This suggests that housing costs are moderately higher than the national average. The median home price of 465000 reflects a competitive market, while the average rent for a 2-bedroom apartment is set at 1600, with a slight increase for a house at 1640. Consider not only your immediate financial ability but also the potential for property appreciation in such a vibrant market. This insight is crucial for informed decision-making about relocation.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Orem, UT.
- Electricity Price: $11.5 USD (median by state)
- Natural Gas Price: $14 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Orem, UT could entail higher utility costs. Electricity costs sit at $11.5, while natural gas is priced at $14 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Orem is a financially viable option for your relocation.