The housing market in the Salem, OR Metro Area has shown significant appreciation over the past year. According to recent data, the median value of a house in this region is currently $414,500. This value is significantly higher than the US House Median Value of $338,100. The US 1 year House Appreciation rate was 8.27%, while in Salem it was 10.78%. This indicates that compared to other regions around the country, Salem residents have seen a higher rate of return on their property investments over the past twelve months.
The median home cost in Salem Metro Area is $414,500. Home appreciation the last 10 years has been 144.1%. Home Appreciation in Salem Metro Area is up 14.0%.
Average Age of Homes
- The median age of Salem Metro Area real estate is 39 years old
The Rental Market in Salem Metro Area
- Renters make up 36.8% of the Salem Metro Area population
- 1.9% of houses and apartments in Salem Metro Area, 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.