The story of this market
The typical home in ZIP 84057 sells for about $398,400, or $215 per square foot.
Prices are down 3.4% from a year ago, which gives buyers more room to negotiate. Homes take about 13 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,650 a month.
ZIP 84057 — Orem
The 84057 housing market is experiencing a cooling phase characterized by rising inventory and a slight year-over-year decline in median prices. While demand remains supported by the university and local employment, buyers are exercising more caution, leading to longer listing times and a higher frequency of price reductions compared to previous years.
This ZIP is ideal for families, students, and first-time homebuyers seeking a balance of affordability and access to the educational and employment opportunities of the Provo-Orem corridor.
Median prices moved down 3.4% year over year.
Homes spend a median of 13 days on market with 2.1 months of supply — a fast-moving market.
31% of listings have cut prices · homes sell at 97.6% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.1% · poverty 10.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 84057, Utah County UT
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in Orem are generally lower than the national average, with the city maintaining a reputation as a safe, family-oriented suburb within the Provo-Orem metropolitan area.
Schools in the 84057 area are part of the Alpine School District, which is characterized by high student enrollment and generally stable academic performance ratings.
The area faces low to moderate risk from natural hazards, primarily related to seismic activity common in the Wasatch Front region; flood and wildfire risks are generally localized.
Economic momentum is driven by the proximity to Utah Valley University and a robust mix of retail and service-sector employers along the State Street corridor.
Property taxes are assessed by Utah County based on fair market value, with the effective rate in this ZIP code historically lower than the state average.
Residents benefit from direct access to I-15 and the Utah Valley Express (UVX) bus rapid transit line, providing efficient connectivity to employment hubs in Provo and Lehi.
The area features numerous neighborhood parks, proximity to the Provo River trail system, and easy access to shopping and dining districts along State Street.
The rental market is influenced by a high concentration of students and young professionals, leading to consistent demand and moderate vacancy pressure.
The economy is anchored by Utah Valley University, with a diverse base of retail, healthcare, and technology-related businesses serving the broader Utah County region.
The area is served by the I-15 highway corridor and the UVX bus rapid transit system, facilitating north-south travel.
Development is focused on high-density residential and mixed-use projects near the university and transit corridors.
Parcels are served by the Alpine School District and various municipal utility districts for water and sewer services.
Property insurance premiums are generally stable, though subject to regional adjustments based on wildfire and seismic risk assessments.
Data retrieved from Census Reporter and ZCTA-level ACS tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Major anchor institution and cultural hub.
Large community park with pool and theater.
Primary commercial corridor for the city.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.