The housing market in Salem, MA has been booming over the past year, with the median value of a home at $505,900. This is significantly higher than the US median value of $338,100 and reflects an appreciation rate of 9.17%, which is higher than the national average of 8.27%. Clearly, Salem is a desirable location for those looking to invest in real estate.
The median home cost in Salem is $505,900. Home appreciation the last 10 years has been 95.5%. Home Appreciation in Salem is up 13.0%.
Average Age of Homes
- The median age of Salem real estate is 78 years old
The Rental Market in Salem
- Renters make up 47.3% of the Salem population
- 0.9% 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.