Utah County · Utah · West · 97k residents
Orem, UT: economy, jobs & business costs
The site-selection read on Orem: labor costs, talent, corporate tax, energy, and business activity, with the Utah median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,240/wk. Utah's corporate income tax rate is 4.5%. Commercial electricity averages 9.4¢/kWh.
Compare Orem side by side
Avg. weekly wage
$1,240/wk
Corporate income tax
4.5%
Bachelor's degree or higher
43.6%
Commercial electricity
9.4¢/kWh
Economic momentum
How fast Orem's economy is moving, ranked against the US cities we track.
60/100
Steady
Ranks Orem's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $472,300 |
| Price per sq. ft. | $290 |
| Property tax rate | 0.55% |
| 1-bedroom rent | $1,347/mo |
| 2-bedroom rent | $1,287/mo |
| State & local income tax | 4.65% |
| Sales tax | 7.2% |
| Corporate income tax | 4.5% |
| Avg. weekly wage | $1,240/wk |
| Bachelor's degree or higher | 43.6% |
| Commercial electricity | 9.4¢/kWh |
| Businesses per 1k residents | 30.9/1k |
| Wage: Software developer | $131,210 |
| Wage: Registered nurse | $81,780 |
| Wage: General manager | $95,790 |
| Wage: Customer service | $39,560 |
| Wage: Warehouse worker | $37,480 |
| Wage: Heavy truck driver | $59,820 |
| Wage: Electrician | $60,860 |
| Wage: Retail salesperson | $33,120 |
| Cost of living index | 103 |
| Groceries index | 98 |
| Utilities | $135/mo |
| Transit pass | $85/mo |
| Gas price | $3.40/gal |
| Healthcare index | 96 |
| Childcare (per child) | $1,050/mo |
| Median household income | $83,342 |
| Unemployment rate | 3% |
| Population | 97k |
| Crime index | 38/100 |
| School rating | 6.8/10 |
| Walkability | 34/100 |
| Disaster risk | 95/100 |
| Avg. commute | 22 min |
| Sunny days / year | 230 days |
| July high | 93°F |
| January low | 20°F |
| Annual snowfall | — |
| Home price YoY | +3.2% |
| Home price MoM | -0.4% |
| Rent YoY | +4.5% |
| Rent MoM | +0.2% |
| Employment (jobs) YoY | +1.9% |
| Building permits YoY | -35.0% |
| Ocean coast | 574 mi |
| Big lake | 10 mi |
| Mountains | 6 mi |
| Major airport | 36 mi |
| Ski resort | 8 mi |
Popular comparisons
Nearby
- Pleasant Grove, UT · 38k
- Provo, UT · 115k
- American Fork, UT · 37k
- Highland, UT · 20k
- Lehi, UT · 85k
Similar size
- Sandy, UT · 94k
- St. George, UT · 102k
- Ogden, UT · 87k
- Layton, UT · 83k
- South Jordan, UT · 83k
Real listings in Orem
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Orem a good place to run a business?
- Utah's corporate income tax rate is 4.5%; average weekly wages in the surrounding labor market run $1,240/wk; commercial electricity averages 9.4¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Orem, UT?
- Orem indexes at 103 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,287/mo and a acs median home value of $472,300.
- How much does a house cost in Orem?
- The acs median home value in Orem is $472,300 (Census ACS estimate; individual listings vary).
- How much is rent in Orem?
- A two-bedroom in Orem rents for about $1,287/mo.