Parkway Lofts
1225 W 1000 South,
Orem, UT 84058
Studio - 3 Beds | $1,225 - $2,829
Rental Market Trends in Orem, UT
What is the average rent in Orem, UT?
$1,336/month
Average Rent
744 Sq Ft
Average Apartment Size
-0.1%
Decrease in the Last Year
As of December 2024, the average rent in Orem, UT is $1,336 per month. For comparison, the national average rent price in the US is currently $1,560/month, which means Orem rent prices are 14% lower than the national average. When you rent an apartment in Orem, you can expect to pay about $1,234 per month for a studio, $1,336 for a one-bedroom apartment, and around $1,481 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,810 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Orem, UT?
In the past year, rent has decreased by 0.1%, which averages out to $1 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Orem, UT
Last Updated December 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
12%
$700 - $1,000/month
53%
$1,001 - $1,500/month
31%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Orem?
Based on current rent prices, Lakeview, Orem South and Bonneville are the most affordable neighborhoods in Orem.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Orem?
Based on current rent prices, Orem North, Scera Park South and Sunset Heights are the most expensive neighborhoods in Orem.
Neighborhood
Average Rent
Average Sq Ft
Which Orem neighborhoods have the most rentals available?
The neighborhoods in Orem with the most apartments available are Hillcrest, Scera Park South and Sunset Heights .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Orem, UT?
Because the average rent in Orem is $1,336, you’ll want to make about $4,453 per month or $53,436 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Orem, UT compare to other nearby cities and neighborhoods?
Use the tool below to compare Orem, UT to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
$1,202/month
One Bedroom
$1,252/month
$1,379/month
Two Bedroom
$1,436/month
$1,587/month
Three Bedroom
$1,812/month
$1,904/month
Nearby City Rent Trends
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.