Orem, UT Real Estate
According to census data in the year 2000 there were 24,164 housing units in Orem.
This represents a 34.5% growth from 17,965 in 1990.
Of those housing units, 24,047 were located in either urbanized areas or urban clusters, and 117 were located in what is classified as a rural area.
Homeownership rate in Orem is about 67%.
Orem's vacancy rate, including seasonal lodging, is about 3.2%.
Average household size is 3.57 people.
The majority of houses, apartments or condos in Orem were built after 1979.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.80% |
| One Bedroom | 6.30% |
| Two Bedrooms | 24.40% |
| Three Bedrooms | 22.60% |
| Four Bedrooms | 21.80% |
| Five Bedrooms or more | 24.10% |
Owned Homes, Apartments and Condos
| Average Household Size | 3.89 |
| Median year structure was built | 1979 |
| Median Value of occupied units | $155,000 |
| Median Price asked for vacant units | $137,500 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.92 |
| Median year structure was built | 1978 |
| Median Monthly Rent asked for vacant units | $656 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.30% |
| Second Mortgage | 11.60% |
| Home Equity Loan | 8.50% |
| Simple Mortgage | 54.80% |
| Debt Free | 24.80% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 18.2% |
