Home Insurance in Orem, Utah
The median home value in Orem is $472,300, 12% lower than the Utah County median.
The typical home in Orem was built around 1989. About 9% of homes were built before 1960, in line with Utah County (10%). Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in Orem is 62% single-family homes, 23% apartments in buildings with 5+ units and 2% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 65% of owner-occupied homes in Orem have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 58% of occupied homes in Orem are owner-occupied. The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Orem, 77% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Orem? FEMA's National Risk Index points to wildfire (Relatively High) in Utah County and Utah County had 753 active NFIP flood policies as of September 2026. See the full Utah County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Utah carries a statewide average premium of $1,107 per year.
Key figures
| Median home value | $472,300 |
|---|---|
| Median year built | 1989 |
| Owner-occupied share | 58% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top county hazard | Wildfire (Relatively High) |
| Active NFIP policies in Utah County | 753 |
| Home insurance premium | $1,107 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)