As of early 2025, Utah County's rental market presents a dynamic landscape for real estate investors, characterized by steady growth, evolving demographics, and promising investment opportunities.
Rental Market Trends
In January 2025, Utah's median rent price stood at $1,800, reflecting a slight decrease of $39 from the previous year. Notably, Utah County's Fair Market Rent (FMR) for a two-bedroom unit is $1,355, which is 14.2% higher than the state average of $1,187, ranking it as the 10th most expensive county in Utah.
In Orem, a significant city within Utah County, 40% of households are renter-occupied. The distribution of apartment rents is as follows:
$1,001–$1,500: 48%
$1,501–$2,000: 37%
Above $2,000: 15%
This data indicates a substantial demand for mid-range rental properties.
Housing Market Overview
As of December 2024, Utah County experienced a 3.7% year-over-year increase in home prices, with a median sale price of $498,000. Homes typically remained on the market for 48 days, slightly longer than the 46-day average from the previous year. A total of 649 homes were sold in December 2024, up from 592 in December 2023, indicating a robust housing market.
Investment Opportunities
Utah County's rapid growth and strong economy make it a prime location for real estate investments. The area offers a variety of investment properties, including multi-residential units and fully-leased duplexes.
Market Dynamics
The rise of remote work has led many to consider areas previously deemed too far from employment hubs, resulting in increased interest in regions like Utah County. This shift has contributed to the area's growth and presents new opportunities for investors.
Conclusion
Utah County's rental market in 2025 offers a compelling mix of stable rental demand, appreciating property values, and diverse investment opportunities. Investors should conduct thorough market analyses and consider engaging with local real estate professionals to navigate this dynamic market effectively.
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