Home / Select Cities  /  2024 Comparing Salem, KY vs. Richmond, KY

2024 Compare Cities Housing:
Salem, KY vs Richmond, KY

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Highlights
- The median age of a home in Salem is 45.1% older than the median age of a home in Richmond.

Housing
 Salem, KYRichmond, KYUnited States
 Median Home Age512842
 Median Home Cost$87,700$249,300$338,100
 Home Appr. Last 12 months15.7%15.5%16.6%
 Home Appr. Last 5 yrs.43.8%49.5%57.0%
 Home Appr. Last 10 yrs.55.6%69.9%101.1%
 Property Tax Rate$6.4$9.0$11.0
 Homes Owned62.7%32.6%57.4%
 Housing Vacant17.5%10.3%11.2%
 Homes Rented19.8%57.0%31.4%
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 Avg Rent For Home Or Apartment
 Salem, KYRichmond, KYUnited States
 Average Rent$810$1,050$1,840
 Studio Apartment$480$640$1,080
 1 Bedroom Home or Apartment$520$650$1,180
 2 Bedroom Home or Apartment$670$790$1,430
 3 Bedroom Home or Apartment$820$1,060$1,860
 4 Bedroom Home or Apartment$900$1,060$2,160
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 Vacant Housing
 Salem, KYRichmond, KYUnited States
 Vacant For Rent0.0%2.9%1.9%
 Vacant Rented1.6%0.6%0.4%
 Vacant For Sale3.9%0.4%0.7%
 Vacant Sold0.0%0.6%0.4%
 Vacant Vacation1.6%0.4%3.6%
 Vacant Other10.4%5.5%4.1%
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 Owner-Occupied Housing Value
 Salem, KYRichmond, KYUnited States
 Less Than $20,0003.6%7.4%2.6%
 $20,000 to $39,9997.3%0.7%2.4%
 $40,000 to $59,99916.6%1.5%2.8%
 $60,000 to $79,99930.1%1.4%3.9%
 $80,000 to $99,99914.0%8.9%4.5%
 $100,000 to $149,99918.7%26.2%11.3%
 $150,000 to $199,9995.2%22.5%13.0%
 $200,000 to $299,9993.1%23.6%20.1%
 $300,000 to $399,9990.0%3.3%13.6%
 $400,000 to $499,9990.0%3.2%8.3%
 $500,000 to $749,9991.6%0.4%9.7%
 $750,000 to $999,9990.0%0.9%3.9%
 $1,000,000 to $1,499,9990.0%0.2%2.2%
 $1,500,000 to $1,999,9990.0%0.0%0.8%
 $2,000,000 and over0.0%0.0%1.1%
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 Housing Units By Year Built
 Salem, KYRichmond, KYUnited States
 2015 and Newer0.0%0.0%0.2%
 2010 to 20146.2%17.0%13.6%
 2000 to 20096.2%17.0%13.6%
 1990 to 199910.1%24.3%13.6%
 1980 to 19897.5%16.2%13.2%
 1970 to 197924.7%9.4%14.8%
 1960 to 196910.1%24.3%13.6%
 1950 to 195912.7%4.7%10.0%
 1940 to 19496.8%1.3%4.7%
 1939 or Earlier11.4%4.0%12.2%

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Reviews for Salem    0 Reviews

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Reviews for Richmond    4 Reviews

Over 6 years ago

Keep this between us... Richmond is a hidden gem. A small university town close to a large city (Lexington is 30 minutes away) and less than two hour from very large  More

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For a smallish town, Richmond offers a convenient location and great small restaurants. Fortunately it is also wedged between Lexington and little Berea, both with more  More

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Over 15 years ago

Major university town of small size (30,000), and conveniently located 30 miles from Lexington,  More

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ZIPS IN SALEM, KENTUCKY
42078
ZIPS IN RICHMOND, KENTUCKY
40475

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