The housing market in Salem, VA is thriving. The median value of homes in Salem is $260,300, compared to the US house median value of $338,100. Additionally, Salem has seen an impressive 15.80% appreciation in home values over the past year - nearly double the 8.27% increase seen nationwide. It's clear that Salem is becoming a popular area for homeowners looking for quality real estate at a competitive price.
The median home cost in Salem is $260,300. Home appreciation the last 10 years has been 55.9%. Home Appreciation in Salem is up 15.8%.
Average Age of Homes
- The median age of Salem real estate is 47 years old
The Rental Market in Salem
- Renters make up 29.9% of the Salem population
- 3.0% 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.