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Investment Properties for Sale in Orem, Utah
Orem sits in the middle of Utah County's population boom, which is the short answer to why investors keep circling back here. Utah Valley University enrolls more than 40,000 students, most of whom need housing within a few miles of the Orem campus, and the city's location between Provo (BYU) and the Silicon Slopes tech corridor in Lehi and Draper means rental demand pulls from students, young families, and tech workers all at once. Median home prices typically run in the $450K–$575K range depending on neighborhood, with older homes near State Street and 800 North often penciling out best for cash flow, while newer builds on the east bench command higher rents but tighter cap rates.
Zoning is the detail most out-of-state investors miss. Orem regulates accessory apartments and short-term rentals more strictly than Provo does, and the city requires owner-occupancy for many ADU permits — worth confirming on any specific address before writing an offer. Single-family homes used as long-term rentals are the cleanest path, with duplexes and legal-nonconforming basement apartments showing up periodically near UVU and along the 400 South corridor. Property taxes sit near 0.55%–0.65% of assessed value, and Utah's landlord-friendly statutes (short eviction timelines, no rent control) make the numbers more predictable than in neighboring states. Browse the active listings below to see what's currently on the market and where the rent-to-price math is working.
May 2026 · Orem market
Live from the Utah MLS — what's actually happening in Orem right now.
Median sale
$544,000
45 closed in May 2026
Median DOM
15 days
listing → contract
Sale-to-list
99.1%
of final list price
Unsold inventory
214
active + pending
57 matching · page 1 of 3
Active listings
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Common questions
About investment properties in Orem.
What makes Orem a strong rental market? ▾
Three demand drivers overlap here: UVU students, families priced out of Lehi and Alpine School District's better elementary schools, and tech workers commuting north to Silicon Slopes. Vacancy rates in Utah County have historically run below 5%, and rents have climbed steadily alongside the tech corridor's growth since roughly 2015.
Are short-term rentals (Airbnb, VRBO) allowed in Orem? ▾
Orem heavily restricts short-term rentals in most residential zones, and enforcement has tightened over the last few years. If STR income is central to your investment thesis, verify the specific address with Orem's planning division before closing — most investors here run long-term or mid-term (30+ day) rentals instead.
What about basement apartments and ADUs? ▾
Orem allows accessory apartments in many zones but generally requires the owner to live on-site, which limits pure-investment ADU plays. Some older homes carry legal-nonconforming basement apartments that were grandfathered in — those are valuable and worth confirming through city records during due diligence.
Which Orem neighborhoods do investors target most? ▾
Areas within walking or short driving distance of UVU (south Orem, near 800 South and 400 West) draw student-oriented rentals. Central Orem near State Street offers older homes at lower price points, while the east bench above 800 East attracts family renters willing to pay more for the Timpanogos views and Alpine School District feeders.
What kind of cap rates are realistic in Orem right now? ▾
Most single-family rentals in Orem pencil in the 4%–5.5% cap rate range at current prices, which is typical for Wasatch Front markets where appreciation has carried more of the return than cash flow. Duplexes and homes with separate basement units can push 6%+ when the numbers line up.
How do Orem property taxes and landlord laws compare to other states? ▾
Utah's effective property tax rate on owner-occupied homes runs around 0.55%, but non-primary residences (rentals) are assessed at 100% rather than 55% of value, which roughly doubles the tax bill — budget accordingly. On the upside, Utah's eviction process is fast (often under 30 days for non-payment) and there's no statewide rent control.