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: $465000
• 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 105.5

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $77568

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Orem, UT, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.