The housing in Salem, NJ is doing well compared to the national average. The median value of a house in Salem, NJ stands at $176,600, while the US House Median Value is $338,100. Not only that, but the US 1 year House Appreciation rate is 8.27%, while the House 1 year appreciation rate in Salem, NJ is 15.62%. This shows that not only are homes in Salem more affordable than many other parts of the country but they are also increasing in value at a greater rate than much of the rest of the nation.
The median home cost in Salem is $176,600. Home appreciation the last 10 years has been 69.6%. Home Appreciation in Salem is up 18.1%.
Average Age of Homes
- The median age of Salem real estate is 65 years old
The Rental Market in Salem
- Renters make up 50.6% of the Salem population
- 6.0% 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.