Real Estate Investing in Orem, Utah (84097)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 84097 (Orem, UT)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 31.8 — hard to cash-flow at these prices.
What’s happening in Orem, UT (84097)?
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Market Analysis: 84097 Orem
ZIP 84097 inside Utah County looks affordable on the surface — median value of $600K — but the discount exists for reasons that a careful buyer should understand before committing.
On balance, the numbers look inviting — $600K purchase price, 0.0% nominal cap — the work to hit that pro forma in 84097 is substantial and deserves full respect.
Within UT, ZIP 84097 trails on several market indicators that neighboring Utah County submarkets outperform. The gap is real and resilient enough to shape underwriting.
Who lives in 84097 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 84097 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Orem:
Property Strategy for 84097
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $522,054 | $1,960 | 2.7% | +7.1% | $174,018 |
| 4BR | $574,313 | $2,370 | 3.0% | +7.1% | $143,578 |
| 5BR | $685,268 | — | — | +7.4% | $137,054 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 84097 Compare?
| Metric | 84097 | Orem | Provo-Orem, UT | Utah |
|---|---|---|---|---|
| Home Value | $600,096 | $522,307 | N/A | $530,173 |
| 5-Year CAGR | 3.7% | 3.4% | N/A | 7.0% |
| Avg Rent | $1,572 | $1,534 | N/A | - |
| Cap Rate | 2.0% | 2.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 84097 (Orem, UT). Anonymous, moderated, never written by AI.
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Property managers serving Utah County
Manage rentals here? List your business →ICO Property Management constructs and oversees luxury Utah apartment communities, crafting enriching lifestyle experiences for residents across 17 locations along the Wasatch Front. summary from their website
Property Management Inc. offers residential, association, short-term, commercial, and multifamily property management services. summary from their website
Incline Property Management provides reliable property care for homeowners and investors, handling tenant screening, rent collection, maintenance, and delinquency resolution. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $600,096 |
| Monthly Rent | $1,572 |
| Price-to-Rent | 31.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 5.8% |
📈 Home Appreciation
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | +4.5% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 84097
Population: 22,024
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 84097
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Lumen Scholar Institute
Aspen School
Bonneville School
Northridge School
Windsor School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 17,503 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Orem, UT?
Typical homes in Orem, UT go for around $600K. The 5-year CAGR of 0.0% steady price movement.
What investment strategy works best in Orem, UT?
Orem, UT investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($600K prices, $1,572/mo rents) make it a reasonable choice.
Does a duplex house hack pencil in Orem, UT?
The house hack math a challenging in Orem, UT. Owner-occupant buyers benefit from the $1,572/mo rents and $600K home values.
Does Orem, UT favor landlords or tenants?
Landlord-friendliness in Orem, UT is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Are tenants stable in Orem, UT?
Tenant quality in Orem, UT ranks as solid. Landlords generally report even-keeled occupancy at market rents of $1,572/mo.
You know 84097 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 84097 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 84097 ranks in Provo-Orem, UT
Every ZIP in this metro, ranked. Free.
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