Salem, Oregon is known for its affordable housing market and the median value of homes in the area is $399,000, which is higher than the US House Median Value of $338,100. This shows that homes in Salem are slightly more expensive than the national average. Additionally, in the past year, house appreciation in Salem has been 9.26%, which is higher than the US 1 year House Appreciation rate of 8.27%. This trend indicates that homes in Salem are becoming increasingly valuable over time. Overall, Salem is an attractive place to purchase a home due to its affordability and potential for appreciation.
The median home cost in Salem is $399,000. Home appreciation the last 10 years has been 144.5%. Home Appreciation in Salem is up 14.2%.
Average Age of Homes
- The median age of Salem real estate is 40 years old
The Rental Market in Salem
- Renters make up 43.9% of the Salem population
- 2.7% of houses and apartments in Salem, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.