| Index | Orem | Utah | National |
| Cost of living | 115 | 105 | 100 |
| Groceries | 100 | 101 | 100 |
| Health care | 101 | 101 | 100 |
| Housing | 148 | 113 | 100 |
| Transportation | 102 | 101 | 100 |
| Utilities | 100 | 101 | 100 |
| Lifestyle & Entertainment | 102 | 102 | 100 |
| Household Items | 103 | 102 | 100 |
| Education & Childcare | 100 | 105 | 100 |
Getting a feel for the cost of living in Orem is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Orem is 115, which is 15% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
Housing costs make up a big chunk of the cost of living in Orem, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 48.2% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Nobody knows their city better than the people who actually live there. So, we asked 6 local residents how they would rate the cost of living in Orem and this is how they responded. 33% of people said that the cost of living was affordable, with prices decreasing, while 67% of people said that the cost of living was very expensive and prices continue to rise.
Is Orem affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Orem, for instance, where the median home price falls 63.8% higher than the national average, and monthly rent rates are 11.6% higher than usual. Additionally, median income levels contribute to the equation, with Orem flaunting a median household income of $97,324, 19.7% higher than the national norm.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Orem, the utilities index is 0.3% lower than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Orem, the groceries index is 0.4% higher than the national average.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Orem, the housing index is 48.2% higher than the national average.
The Orem cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $123,911 | $10,326 | $2,891 | $3,718 |
| Renters | $68,090 | $5,674 | $1,589 | $2,043 |
| State | General Sales Tax | With Max Surtax |
| Utah | 6.1% | 8.35% |
| State | Income Tax (Low) | Income Tax (High) |
| Utah | 4.85% | 4.85% |
| City | Population | Cost of Living Index | National Avg. |
| Provo, UT | 119,883 | 114 | 13.5% |
| Springville, UT | 34,438 | 114 | 14.2% |
| Spanish Fork, UT | 41,496 | 118 | 17.6% |
| Pleasant Grove, UT | 39,356 | 120 | 20.3% |
| American Fork, UT | 32,330 | 120 | 20.1% |
| Orem, UT | 101,229 | 115 | 15.2% |
| City | Population | Cost of Living Index | National Avg. |
| Lethbridge, AB | 101,384 | n/a | |
| Chico, CA | 100,994 | 133 | 33.1% |
| Beaverton, OR | 100,974 | 134 | 33.8% |
| Kamloops, BC | 101,505 | n/a | |
| Nanaimo, BC | 101,513 | n/a | |
| Orem, UT | 101,229 | 115 | 15.2% |
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