Utah · Provo-Orem-Lehi, UT metro area

Buying a home in Orem, Utah

In Orem, the median value of owner-occupied homes is $472,300, Utah County's effective property tax rate is 0.44%, a purchase mortgage carried a median $8,784 in total loan costs in 2025, and median gross rent is $1,438 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Orem home costs, fact by fact

About Orem

Orem lies in the Provo-Orem-Lehi, UT metro area, which ranks 81st nationally. Renters pay a median gross rent of $1,438 a month, and HUD's two-bedroom Fair Market Rent is $1,363.

Reading the Orem figures

Orem's estimated median of $472,300 is below the Utah statewide figure of $543,400, and under Salt Lake City's $539,500, St. George's $496,100 and West Jordan's $492,500. Provo reports $467,200, a little lower, and Ogden sits well lower at $355,600. These are owners' estimates, not sale prices, so treat the gaps between cities as indications only.

On rent, Orem tenants pay a median of $1,438 a month, a touch above Salt Lake City's $1,414 and above Provo's $1,193, yet HUD's benchmark for the Provo-Orem-Lehi area is only $1,363, lower than the local median rent. Owners occupy 57.8% of homes, compared with 39.4% in Provo and 77.2% in West Jordan, while Layton reports 72.5% and Salt Lake City a lower 45.8%. Lehi reports $612,100 and Sandy reports $614,100, much higher values.

Utah County's 0.44% levy assessed against $538,700 gives a median annual tax of $2,370. That rate is low beside the figures seen elsewhere in the state's data, and Orem's own estimated value sits under the county median, so a typical bill here could fall below the county number. HMDA data for 2025 show 8,776 mortgages recorded, with closing-loan charges centred on $8,784 and a wide central spread, from $4,631 to $13,884. The metro area has 760,531 residents, and Orem counts 96,646.

Calculate for Utah

If you buy

Utah state transfer tax

Utah has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$543,400
State transfer tax$0
Share of the price—

Default price: the Utah median value of owner-occupied homes, $543,400 (Census ACS 2025). Rule: No tax is calculated on the price. The recording fee is flat per instrument. Who pays: No transfer tax. The recording fee is owed by whoever submits the document; the state purchase contract does not assign recording fees, so closing instructions and the loan decide. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Utah transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Utah state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Orem

How much is property tax in Orem?

Homeowners in Utah County pay a median $2,370 a year in property tax, 0.44% of the county median home value of $538,700 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Orem?

Home-purchase mortgages in Utah County carried median total loan costs of $8,784 in 2025; half of the 8,776 loans fell between $4,631 and $13,884 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Orem?

Utah has no state transfer tax in the official sources read. Recording a deed costs a flat $40 per document under Utah Code 17-71-407, and Utah is a non-disclosure state where deeds do not state the sale price.

Is it cheaper to rent or buy in Orem?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Orem ($472,300) equals 27.4 years of the median gross rent ($1,438 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Utah rules that apply in Orem

Other large cities in Utah

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Sources

Utah · All states · Federal guides